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Otis Worldwide Corporation (OTIS), the global leader in vertical transportation systems, provides essential hub for investors and industry professionals tracking its developments. This page aggregates official press releases, financial results, and strategic announcements directly from the company and verified sources.
Access curated updates spanning earnings reports, product innovations, sustainability initiatives, and partnership announcements. Our repository ensures efficient tracking of Otis' maintenance portfolio growth, modernization projects, and technological advancements in elevator/escalator systems.
Key content categories include quarterly financial disclosures, safety certification updates, global contract awards, and leadership changes. All materials maintain factual accuracy while highlighting Otis' role in shaping urban mobility through its 160+ years of engineering expertise.
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On October 27, 2022, Otis Worldwide Corporation (NYSE: OTIS) announced a quarterly dividend of $0.29 per share for its common stock. The dividend will be distributed on December 10, 2022, to shareholders on record as of November 18, 2022. Otis is a global leader in the manufacturing and servicing of elevators and escalators, moving over 2 billion people daily and managing more than 2.1 million customer units globally.
Otis Worldwide Corporation (OTIS) reported Q3 2022 net sales of $3.3 billion, down 7.6% year-over-year, with organic sales growth of 0.8%. GAAP EPS remained flat at $0.77, while adjusted EPS increased by 5.3% to $0.80. The New Equipment orders dipped by 0.8%, but adjusted backlog rose by 12%. For the year, Otis revised its guidance, projecting organic sales growth between 2.0% and 2.5% and free cash flow of $1.5 to $1.6 billion. The service segment showed strength with a 3.8% growth in maintenance portfolio units.
Otis Worldwide has appointed Nelda Connors to its Board of Directors, effective October 28, 2022. Connors brings extensive leadership experience from roles in various industrial sectors, including her position as CEO of Pine Grove Holdings. With a focus on enhancing Board diversity, she joins a team where six out of ten directors are women or racially/ethnically diverse. Connors will also serve on the Audit and Compensation Committees, contributing her expertise to oversee Otis' long-term strategy. This appointment reflects Otis' commitment to inclusive leadership.
Otis Worldwide Corporation (NYSE: OTIS) will host a conference call on October 26, 2022, at 8:30 a.m. EDT to discuss its third-quarter results and 2022 outlook. CEO Judy Marks and CFO Anurag Maheshwari will present. Online registration is available, and a presentation along with a news release will be posted on www.otis.com prior to the call. Otis, headquartered in Connecticut, is the global leader in elevator and escalator manufacturing, servicing over 2.1 million customer units worldwide.
Otis Worldwide Corporation announced that its Chair, CEO, and President, Judy Marks, will participate in a fireside chat at the 10th annual Laguna conference hosted by Morgan Stanley on September 16, 2022, at 9:20 a.m. PDT (12:20 p.m. ET). The discussion will be streamed live on the Otis website. Headquartered in Farmington, Connecticut, Otis is the leading global manufacturer and service provider of elevators and escalators, serving over 2 billion people daily with a workforce of 70,000 across more than 200 countries.
The Board of Otis Worldwide Corporation (NYSE: OTIS) has declared a quarterly dividend of $0.29 per share. This dividend will be payable on September 10, 2022, to shareholders on record as of August 19, 2022. Otis, the global leader in elevator and escalator manufacturing and services, operates with a strong workforce of 70,000 across over 200 countries. However, future dividends may be affected by various risks including economic conditions, market demand, and geopolitical factors.
Otis Worldwide reported Q2 2022 net sales of $3.5 billion, down 5.8% year-over-year, but achieved 0.4% organic sales growth. Adjusted EPS increased 11.7% to $0.86, driven by strong Service segment performance and operational improvements. Despite a 5.3% foreign exchange headwind, new equipment orders grew 16.5%, with an adjusted backlog up 10%. Otis revised its full-year outlook, anticipating organic sales growth of 2.5% to 3.5% and free cash flow of approximately $1.6 billion.
Otis Worldwide Corporation (NYSE: OTIS) will host a conference call on July 27, 2022, at 8:30 a.m. EDT to discuss its second quarter results and outlook for 2022. Executives Judy Marks, Rahul Ghai, and Anurag Maheshwari will lead the discussion. The event can be registered for online, with a presentation and news release available before the call. Otis is a leading elevator and escalator manufacturer, maintaining over 2.1 million customer units globally and moving 2 billion people daily.
Otis Worldwide Corporation (NYSE: OTIS) has appointed Anurag Maheshwari as the new Executive Vice President & Chief Financial Officer, effective August 12. He takes over from Rahul Ghai, who is moving to a new opportunity. Judy Marks, Otis Chair, CEO & President, praised Maheshwari for his experience, particularly in the Asia Pacific region, where he led finance teams and strategic initiatives. Otis plans to release its second quarter earnings in late July, and both Maheshwari and Ghai will participate in the earnings call.
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