Otis Worldwide Corporation reports developments in its global elevator and escalator business, including manufacturing, installation, service and modernization activity. Company updates commonly cover service growth, repair and modernization demand, new equipment orders, backlog trends, cash flow, share repurchases and dividend actions.
News from Otis also includes product and technology initiatives such as the Otis Robust heavy-duty elevator range for data centers and mission-critical infrastructure, service-technology investments, executive conference participation and corporate responsibility programs tied to mobility, STEM and emerging technologies.
Otis Worldwide Corporation (NYSE: OTIS) is set to host a conference call on October 25, 2021, at 8:30 a.m. EDT, to discuss its third quarter results and 2021 outlook. The call will feature President & CEO Judy Marks and CFO Rahul Ghai. Participants can join via webcast or by phone at +1-877-735-3703. Additional materials will be available on the company's website prior to the call, and a recording will be posted later in the day. Otis maintains a global service portfolio with approximately 2.1 million customer units worldwide.
Otis Worldwide Corporation (NYSE: OTIS) announced a tender offer to acquire all remaining shares of Zardoya Otis, S.A. at €7.00 per share, a 28.9% premium over its recent market valuation, totaling €3.3 billion. The acquisition aims to simplify Otis' structure and enhance operational efficiencies. Zardoya Otis reported €801 million in revenue and €223 million in EBITDA for the year ending May 31, 2021. The transaction, expected to close in Q2 2022, is projected to add 3 to 5 cents per share to Otis' EPS in 2022, contributing to mid-single-digit EPS accretion starting in 2023.
Otis Worldwide Corporation (NYSE: OTIS) President & CEO Judy Marks will present at the Morgan Stanley 9th Annual Laguna Conference on September 14, 2021, at 10:30 a.m. EDT. The event will be live-streamed on www.otis.com. Otis is the global leader in elevator and escalator manufacturing, maintaining about 2.1 million customer units and serving 2 billion people daily. Headquartered in Connecticut, Otis employs 69,000 individuals worldwide, including 40,000 field professionals, dedicated to meeting diverse customer needs.
Otis Worldwide Corporation (NYSE: OTIS) announced a quarterly dividend of $0.24 per share, payable on September 10, 2021, to shareholders of record by August 20, 2021. Otis is a leader in elevator and escalator manufacturing and service, moving 2 billion people daily with a service portfolio maintaining approximately 2.1 million customer units globally. The company emphasizes its commitment to operational excellence while cautioning that future dividends may vary due to various market and economic conditions.
Otis Worldwide Corporation (OTIS) reported impressive second quarter results for 2021, with net sales reaching $3.7 billion, a 22.2% year-over-year increase, driven by 15.4% organic growth. GAAP operating profit rose $145 million to $561 million, expanding operating margins to 15.2%. Earnings per share (EPS) increased by 46.2% to $0.76. The company launched new platforms, boosting New Equipment orders by 24%. Otis raised its 2021 outlook for net sales to $14.1 to $14.2 billion, reinforcing investor confidence.
Otis Worldwide Corporation (NYSE: OTIS) will hold a conference call on July 26, 2021, at 8:30 a.m. EDT to discuss its second-quarter results and outlook for 2021. The call will feature Judy Marks, President & CEO, and Rahul Ghai, Executive VP & CFO. Participants can join via webcast or by phone. A presentation and additional materials will be available on Otis' website prior to the call. Otis is a global leader in elevator and escalator manufacturing, maintaining approximately 2.1 million customer units worldwide.
Otis Worldwide Corp. (NYSE: OTIS) unveiled its Gen3 and Gen360 digital elevator platforms during the global virtual event 'Welcome to Tomorrow.' These platforms are designed for modern connectivity and innovation, featuring the Otis ONE IoT digital platform for real-time monitoring and predictive insights. The Gen3 elevator builds on Otis' Gen2 technology, enhancing energy efficiency and passenger experience. The Gen360 redefines design aesthetics, allowing for more flexible building structures. Both products are aimed at elevating operational efficiency in a growing smart building ecosystem.
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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.