Otis Worldwde Stock Price, News & Analysis

Otis Worldwide (NYSE:OTIS) proudly announces that two of its colleagues, Florence Caperaa and Joanne Tetsill, have been named 2024 Women on the Rise award recipients by Paradigm for Parity. This annual award, released on Women's Equality Day, celebrates women who inspire, support others, and promote gender parity.

Otis, the global leader in elevator and escalator manufacturing, installation, and service, joined the Paradigm for Parity coalition in 2020, pledging to achieve gender parity in executive ranks by 2030. As of 2023, Otis reported 38.3% female executive representation, a 2.3 percentage point increase from 2021.

The company moves 2.3 billion people daily and maintains approximately 2.3 million customer units worldwide. Otis employs 71,000 people, including 42,000 field professionals, serving customers in over 200 countries and territories.

Otis, a leading elevator company, highlights the success of its mentorship programs in nurturing talent and fostering career growth. The press release showcases stories from various global locations, including Hong Kong, France, Brazil, and China, where mentees have benefited from guidance in technical skills, safety practices, and company values. Notable programs include the Chantier École in France and Rota Escola in Brazil, which have received industry recognition. Otis emphasizes the mutual benefits of mentorship for both mentors and mentees, and its commitment to impacting 15,000 students globally through STEM-focused programs and vocational training by 2030. The company views these initiatives as important for attracting and retaining key talent, as well as meeting its community engagement goals.

Otis Worldwide (NYSE: OTIS), the world's leading elevator and escalator company, has declared a quarterly dividend of $0.39 per share of common stock. The dividend will be payable on September 6, 2024, to shareholders of record at the close of business on August 16, 2024.

Otis moves 2.3 billion people daily and maintains approximately 2.3 million customer units worldwide, boasting the industry's largest Service portfolio. With 71,000 employees, including 42,000 field professionals, Otis operates in over 200 countries and territories, serving diverse customer needs.

Otis Worldwide (NYSE:OTIS) reported strong second quarter 2024 results, with GAAP EPS up 13.3% to $1.02 and adjusted EPS up 15.2% to $1.06. The company's performance was driven by robust Service segment growth, with Service net sales up 3.0% and organic sales up 5.1%. Key highlights include:

- Maintenance portfolio units increased 4.2%
- Mod orders up 14%, backlog up 15%
- GAAP operating profit margin expanded 20 basis points to 15.8%
- Adjusted operating profit margin expanded 110 basis points to 17.0%
- Share repurchases of $300 million

Based on this performance, Otis has updated its full-year outlook, increasing adjusted EPS guidance to $3.85 to $3.90.

Otis Brazil's factory in São Bernardo do Campo has achieved ISO 45001 certification, demonstrating its commitment to occupational health and safety management. This certification brings the total number of Otis factories with ISO 45001 to 13 out of 17 globally. The standard aims to reduce workplace accidents and illnesses while promoting continuous improvement in safety performance.

Adriana Gonsalves, Senior Manager of EH&S at Otis for Latin America, emphasized that safety is an Otis Absolute, alongside ethics and quality. The São Bernardo do Campo factory previously received ISO 14001 certification in 2021, aligning with Otis' ESG goal of certifying all factories by 2025 - a target achieved four years early. Otis (NYSE:OTIS) maintains management systems based on ISO 14001, 50001, and 45001 standards, showcasing its dedication to environmental and safety excellence in its operations.

Otis Worldwide (NYSE: OTIS) has appointed Cristina Méndez as Executive Vice President & Chief Financial Officer, effective August 23, 2024. Méndez, currently Senior VP of Finance EMEA & Transformation, will succeed Anurag Maheshwari, who is leaving Otis. She brings extensive experience in financial management and transformation, having previously held senior roles at Telefonica Group.

CEO Judy Marks praised Méndez's expertise and understanding of Otis' strategy. The company, a global leader in elevator and escalator services, moves 2.3 billion people daily and maintains about 2.3 million customer units worldwide. Otis plans to release its Q2 earnings on July 24, with both Maheshwari and Méndez joining Marks on the call.

FARMINGTON, Conn., July 10, 2024 – Otis Worldwide (NYSE: OTIS) announces a conference call on July 24, 2024, at 8:30 a.m. ET to discuss second quarter results and the 2024 outlook. CEO Judy Marks and CFO Anurag Maheshwari will lead the call. A webcast, presentation, and news release will be available on Otis's website before the call, with a recording accessible later. For alternative dial-in information, contact Otis investor relations. Otis, a leader in elevator and escalator manufacturing, moves 2.3 billion people daily and maintains 2.3 million units globally.

Otis Worldwide (NYSE: OTIS) has published its 2023 ESG Report, detailing its Environmental, Social, and Governance (ESG) strategy and progress on 13 ESG goals. The strategy emphasizes Health & Safety, Environment & Impact, People & Communities, and Governance & Accountability. Key achievements include hosting over 200,000 safety education engagements, reducing scope 1 and 2 emissions by 12%, and serving more than 2,400 students through STEM initiatives. CEO Judy Marks highlighted the importance of ESG pillars in driving business growth and integrity. The report underscores Otis's commitment to sustainability and ethical business practices.

Otis Worldwide (NYSE: OTIS), a leader in elevator and escalator manufacturing and service, has been honored as a 'Noteworthy Company' by Fair360 for the fourth year in a row. This recognition, which began in 2021, highlights Otis' commitment to an inclusive and equitable workplace culture. The designation is based on survey responses from U.S. employers with at least 750 employees and evaluates Leadership Accountability, Human Capital Diversity Metrics, Talent Programs, Workforce Practices, Supplier Diversity, and Philanthropy. Alecia Smith, Otis Senior Director of Diversity, Equity & Inclusion, emphasized the importance of diverse voices in driving innovation and achieving business goals. This recognition coincides with Otis' 'We Are Many Voices Week,' celebrating global employee contributions. For more details on Otis' inclusive initiatives and awards, visit their website.