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 Corporation (NYSE:OTIS) reported first-quarter 2023 net sales of $3.3 billion, marking a 2.0% decline compared to the prior year, despite a 3.6% increase in organic sales. GAAP diluted earnings per share (EPS) rose 8.2% to $0.79, with adjusted EPS up 5.3% to $0.80. The company experienced robust performance in New Equipment orders, increasing 7.4%, while the backlog grew 3% overall. Notably, cash flow from operations dropped to $278 million, a decrease of $226 million. For the full year, Otis expects sales to rise by 2.5% to 4.5%, with adjusted EPS projected at $3.40 to $3.50 and free cash flow anticipated between $1.5 and $1.55 billion.
On April 25, 2023, Otis Worldwide Corporation (NYSE: OTIS) declared a quarterly dividend of $0.34 per share, marking a significant 17.2% increase. The dividend is scheduled for payment on June 9, 2023, to shareholders on record by May 19, 2023.
CEO Judy Marks emphasized that this increase reflects confidence in their Service-driven strategy that supports consistent cash flow generation. The move demonstrates Otis's commitment to disciplined capital allocation and stakeholder interests.
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