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 (NYSE: OTIS) President & CEO Judy Marks will participate in the 8th annual Laguna conference hosted by Morgan Stanley on September 15, 2020, at 3:45 p.m. EDT. The presentation will be live-streamed on Otis's website. As the leading elevator and escalator company, Otis moves 2 billion people daily and maintains over 2 million units globally, the largest maintenance portfolio in the industry. With a workforce of 69,000, including 40,000 field professionals, Otis serves customers across 200+ countries.
Otis Worldwide Corporation (NYSE: OTIS) has initiated a study focusing on elevator airflow and its role in COVID-19 transmission risks among passengers. The research, led by Dr. Qingyan Chen from Purdue University, aims to develop safety protocols to mitigate these risks. The study will scientifically validate methods to enhance passenger safety in various environments, including elevators compared to places like grocery stores. This initiative highlights Otis's commitment to customer safety and innovative solutions during the pandemic.
Otis Worldwide Corporation (NYSE: OTIS) will host a conference call on September 3, 2020, at 10:00 a.m. EDT. President & CEO Judy Marks and Executive VP & CFO Rahul Ghai will participate in this event, which can be accessed live via www.otis.com. Otis is the leading manufacturer, installer, and service provider of elevators and escalators globally, moving 2 billion people daily and managing over 2 million customer units.
On August 17, 2020, Otis Worldwide Corporation (NYSE: OTIS) announced the acquisition of Bay State Elevator, which will enhance its service offerings in Massachusetts, Connecticut, Vermont, and upstate New York. This strategic move aims to solidify Otis's presence in the Northeast and accelerate its service portfolio growth. The acquisition is expected to provide existing Bay State customers access to Otis's comprehensive range of products and services.
Otis Worldwide Corporation (NYSE: OTIS) reported Q2 2020 net sales of $3.0 billion, a 6.5% organic decline year-over-year, driven by COVID-19 impacts. Adjusted EPS was $0.56, down 5.1%.
Despite challenges, Otis experienced improved liquidity and strong free cash flow of $628 million. The company anticipates 2020 sales to decrease 4.5% to 6.5%, with enhanced operational outlook due to first-half performance.
On July 27, 2020, Otis Worldwide Corporation announced a quarterly dividend of $0.20 per share for its common stock. This dividend will be payable on September 10, 2020, to shareholders of record as of the close of business on August 21, 2020. Otis, the leading manufacturer and service provider in the elevator and escalator industry, serves over 2 billion people daily and maintains an extensive portfolio of customer units globally.
Otis Worldwide Corporation (NYSE: OTIS) announced its commitment to achieving gender parity in global leadership by 2030, making it the first in the vertical transportation industry to join the Paradigm for Parity coalition. Currently, women hold over one-third of Otis executive positions globally and 40% in the U.S. Otis aims for 50% representation by 2030 through a 5-point Action Plan targeting bias reduction, career advancement based on performance, and accountability measures. The initiative highlights a correlation between gender-balanced leadership and improved financial performance.
Otis Worldwide Corporation (NYSE: OTIS) is innovating to ensure safe building operations during reopening phases. The company is introducing touchless technologies like the eCall™ app and enhancements to elevator traffic management to promote social distancing. Otis is also offering germicidal purification products, including UV-C light sanitizers and predictive maintenance services through its Otis ONE™ IoT platform. The demand for these solutions is increasing globally, with notable collaborations, such as with RMZ Corp in India and Ted Stevens Anchorage International Airport, to enhance hygiene and safety.
Otis Worldwide Corporation (NYSE: OTIS) will hold a conference call on July 28, 2020, at 10:00 a.m. EDT to discuss its second quarter results and financial outlook. President & CEO Judy Marks and CFO Rahul Ghai will lead the call. Interested participants can listen via webcast on www.otis.com or by phone at +1-877-735-3703. A presentation and news release will be available prior to the call, and a recording will be accessible later on the website. With a strong global presence, Otis maintains over 2 million customer units and moves approximately 2 billion people daily.
Otis Worldwide Corporation (NYSE: OTIS) has appointed Jim Cramer as the new President of Otis Americas, effective immediately. Cramer, who has a 34-year tenure with Otis, was previously the interim president since February, stepping in after Tom Vining left the company. Under his leadership, Otis aims to enhance operational excellence, safety, and quality across its Americas operations, which currently employ around 15,000 staff across 14 countries.
This strategic move aligns with Otis's commitment to solidify its market leadership in the elevator and escalator industry.
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