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 (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.
Bookmark this page for streamlined access to OTIS developments impacting the vertical transportation sector. Combine historical context with real-time updates to inform your analysis of this NYSE-listed industry pioneer.
Otis Worldwide Corp. (NYSE: OTIS) announced the appointment of Abbe Luersman as Executive Vice President and Chief People Officer, effective July 26. Luersman has extensive experience in human resources, previously serving as CHRO at Ahold Delhaize, leading enterprise-wide people strategies, and shaping company culture. Otis President Judy Marks expressed confidence in Luersman's ability to impact the company positively, which employs 69,000 people globally. Otis specializes in elevator and escalator manufacturing, maintaining 2 million customer units worldwide.
Otis Worldwide Corporation (NYSE: OTIS) President & CEO Judy Marks will present at the Bernstein 37th Annual Strategic Decisions Virtual Conference on June 3, 2021, at 10:00 a.m. EDT. This event will be broadcast live on www.otis.com. Otis is a global leader in elevator and escalator manufacturing, maintaining over 2 million customer units worldwide and moving 2 billion people daily. The company operates in more than 200 countries, employing around 69,000 professionals.
Otis Worldwide Corporation (OTIS) reported strong first quarter 2021 results, with net sales of $3.4 billion, a 14.9% increase year-over-year, driven by 10.3% organic growth. GAAP diluted EPS soared 86.8% to $0.71. The company also highlighted a robust operating profit of $509 million, up 180 million from the previous year. Otis plans to return value to shareholders by raising dividends by 20% and increasing share repurchases to $500 million. The full-year outlook is optimistic, predicting net sales of $13.6 to $13.9 billion and adjusted EPS of $2.78 to $2.84.
Otis Worldwide Corporation (NYSE: OTIS) has declared a quarterly dividend of $0.24 per share, reflecting a 20% increase from the previous quarter. This dividend is scheduled for payment on June 10, 2021, to shareholders on record as of May 21, 2021. President and CEO Judy Marks stated that this increase demonstrates the company's confidence in generating strong free cash flow and delivering value to shareholders. Otis, a leader in elevator and escalator manufacturing, maintains over 2 million units worldwide.
On April 12, 2021, Otis Worldwide Corporation announced the successful completion of the inaugural Made to Move Communities global student challenge, engaging 14 schools across nine countries. The initiative aimed to enhance STEM education by pairing students with Otis mentors to develop real-world mobility solutions. Winning teams included Bloomfield High School (USA) and Romain Rolland Gymnasium (Germany). Otis plans to expand this program in 2022, highlighting its commitment to community engagement and sustainable development.
Otis Worldwide Corporation (NYSE: OTIS) will host a conference call on April 26, 2021, at 8:30 a.m. EDT to discuss its first quarter results and provide an outlook for 2021. Otis President and CEO Judy Marks and Executive VP and CFO Rahul Ghai will lead the discussion. Interested participants can join via webcast or by phone. Additional materials will be available on their website prior to the call, with a recording accessible later in the day.
Otis has been awarded contracts to supply hundreds of elevators and escalators for six transit projects in Canada, particularly in Toronto, Montreal, and Ottawa. Notable projects include nearly 100 units for Ottawa's Stage 2 LRT extensions and the provision of 111 escalators for Toronto's Eglinton Crosstown Line. These projects aim to enhance urban mobility and reduce congestion. Completion of construction for some projects is expected by July 2023, emphasizing Otis's role in supporting critical transportation infrastructure across Canada.
Otis Worldwide Corporation (NYSE: OTIS) announced a quarterly dividend of $0.20 per share on February 4, 2021. The dividend will be paid on March 10, 2021, to shareholders on record by February 12, 2021. As a leader in the elevator and escalator industry, Otis operates globally with over 69,000 employees and maintains more than 2 million customer units. This announcement reflects the company's commitment to returning value to shareholders, despite uncertainties including economic conditions and impacts from the ongoing pandemic.
Otis Worldwide Corporation (NYSE:OTIS) reported a strong fourth quarter for 2020 with net sales of $3.5 billion, reflecting a 1.3% increase in organic sales. GAAP diluted EPS rose by 16% to $0.58, while adjusted diluted EPS soared by 40% to $0.66. However, full-year net sales declined 2.1% to $12.8 billion, with GAAP diluted EPS decreasing by 19.4% to $2.08. Looking ahead, Otis forecasts 2021 organic sales growth of 2% to 4% and adjusted EPS growth of high single digits, showcasing resilience in its business model amidst challenging conditions.
FAQ
What is the current stock price of Otis Worldwde (OTIS)?
What is the market cap of Otis Worldwde (OTIS)?
