Welcome to our dedicated page for Otis Worldwde news (Ticker: OTIS), a resource for investors and traders seeking the latest updates and insights on Otis Worldwde stock.
Otis Worldwide Corporation (NYSE: OTIS) is a global elevator and escalator manufacturing, installation and service company whose activities generate a steady flow of news across infrastructure, product development, financial performance and community engagement. The company reports that it moves about 2.4 billion people a day and maintains approximately 2.4 million customer units worldwide, giving context to the scale of its announcements.
On this page, readers can find coverage of Otis news such as contracts for major transit systems, like its work on the Réseau Express Métropolitain light metro in Montréal and a large escalator service and modernization program across the London Underground network. These stories highlight how Otis equipment and service support safe, reliable passenger movement in complex public transportation environments.
Product-focused news includes updates on offerings like the Gen3 Core elevator for low-rise buildings in the U.S. and Canada and Arise MOD Prime and Arise MOD Plus modernization packages in Europe. Such releases describe new capacities, digital connectivity through the Otis ONE IoT platform, energy efficiency features and modernization options for aging elevator systems.
Investors and analysts will also find earnings advisories, quarterly results and dividend declarations, which Otis announces through press releases and related SEC filings. These communications provide context on sales trends, service portfolio growth and other financial metrics.
Otis news additionally covers social impact initiatives, including the Little Engineers STEM education program and the Made to Move Communities program, which illustrate how the company engages with students and communities around the world. For anyone tracking OTIS, this news feed offers a consolidated view of operational milestones, product developments, large project wins and corporate updates.
Otis Worldwide Corporation (OTIS) announced the results of its voluntary public tender offer to acquire the remaining 49.98% interest in Zardoya Otis, S.A. The Spanish National Securities Exchange Commission confirmed acceptances of 214,017,076 shares, equating to 45.49% of outstanding shares, increasing Otis's ownership to 95.51%. The deal is set to settle on April 12, 2022, followed by a squeeze-out of remaining shares, leading to Zardoya Otis's delisting from Spanish stock exchanges. This acquisition is expected to be EPS accretive and supports Otis's strategy to streamline its operations.
Otis Worldwide Corp (OTIS) has released its inaugural Environmental, Social, and Governance (ESG) Report, outlining progress on 13 ESG targets aligned with United Nations Sustainable Development Goals. Highlights include a 7% reduction in Scope 1 and 2 emissions since 2019, achieving ISO 14001 certification at all global factories, and increasing diversity with 36% of executives being women. The report emphasizes Otis's commitment to making a positive impact through sustainability initiatives, targeting gender parity by 2030, and expanding its support programs.
Otis Worldwide Corp. (NYSE: OTIS) announced its acquisition of the remaining 49.98% interest in Zardoya Otis, S.A. (ZOSA) for 7.07 euros per share in cash, approved by the Spanish National Securities Exchange Commission (CNMV). The acceptance period for the tender offer begins on March 2 and ends on April 1. This all-cash transaction aims to delist ZOSA from the Madrid, Barcelona, Bilbao, and Valencia Stock exchanges. The offer is detailed in the prospectus available on the CNMV's website.
Otis Worldwide Corporation announced its participation in the Barclays 39th Annual Industrial Select Conference on February 23, 2022. Chair & CEO Judy Marks and CFO Rahul Ghai will address investors, sharing insights and responding to recent inquiries. A comprehensive presentation is accessible at www.otisinvestors.com. As the leading company in elevator and escalator manufacturing, Otis operates globally, moving 2 billion people daily and maintaining over 2.1 million customer units worldwide.
On February 15, 2022, Otis Worldwide Corporation (NYSE: OTIS) hosted its 2022 Investor Day, highlighting its long-term growth strategy and financial goals. The company reported a 2-point gain in New Equipment market share, a 5% growth in Service portfolio, and a 35% increase in adjusted EPS from 2019 to 2021. Otis aims for organic sales growth in the low to mid-single digits, with an annual adjusted operating profit margin expansion of approximately 40 basis points, and an adjusted EPS CAGR of over 10%. The press release emphasizes the company's robust free cash flow and commitment to shareholder returns.
On February 3, 2022, Otis Worldwide Corporation (NYSE: OTIS) announced a quarterly dividend of $0.24 per share for its common stock. The dividend is scheduled for payment on March 10, 2022, and will be distributed to shareholders recorded by February 18, 2022. Otis is a global leader in elevator and escalator manufacturing and service, maintaining around 2.1 million customer units worldwide. The company employs 70,000 people across over 200 countries, highlighting its expansive reach and operational capabilities.
Otis Worldwide Corporation (NYSE:OTIS) reported 2021 net sales of $14.3 billion, achieving 8.9% organic growth. GAAP diluted EPS grew 38.9% to $2.89, while adjusted EPS rose 19.4% to $3.01. The company saw fourth-quarter sales of $3.6 billion, a 2.2% increase year-over-year. Operating profit margins improved, leading to increased net income. For 2022, Otis forecasts a modest sales increase of 1% to 3% and expects adjusted EPS of $3.20 to $3.30.
Otis Worldwide Corporation (NYSE: OTIS) has scheduled a conference call for January 31, 2022, at 8:30 a.m. EST, to discuss its fourth quarter and full-year results for 2021 along with the outlook for 2022. President & CEO Judy Marks and Executive VP & CFO Rahul Ghai will lead the discussion. Investors can listen via webcast on the company's website or join by phone. Additional materials will be available ahead of the call, and a recording will be accessible later that day.
Otis Worldwide Corporation (NYSE: OTIS) is set to host its 2022 Investor Day as a live virtual webcast on February 15, 2022, from 9:00 to 11:00 a.m. EST. President & CEO Judy Marks and the leadership team will present the company's strategic initiatives and multi-year financial outlook. The meeting will be accessible on www.otis.com, where the related presentation will also be available beforehand. Otis is recognized globally for its elevator and escalator manufacturing, servicing about 2.1 million customer units worldwide.
Otis Worldwide Corporation (NYSE: OTIS) has appointed Bryant Henson as Executive Vice President, Global Strategy & Business Development, effective January 10. Henson, who previously led sectors at L3Harris Technologies, will report to Judy Marks, President & CEO. His role includes developing long-term strategic plans and identifying growth opportunities. Otis is recognized as a global leader in elevator and escalator manufacturing, servicing around 2 billion people daily worldwide.