Otis Worldwide (OTIS) Q1 Earnings: How Key Metrics Compare to Wall Street Estimates
Otis Worldwide (OTIS) reported $3.44 billion in revenue for the quarter ended March 2024, representing a year-over-year increase of 2.7%. EPS of $0.88 for the same period compares to $0.80 a year ago.
The reported revenue compares to the Zacks Consensus Estimate of $3.44 billion, representing a surprise of -0.18%. The company delivered an EPS surprise of +1.15%, with the consensus EPS estimate being $0.87.
While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine their next move, some key metrics always offer a more accurate picture of a company's financial health.
Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.
Here is how Otis Worldwide performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
Net Sales- Service: $2.16 billion compared to the $2.16 billion average estimate based on two analysts. The reported number represents a change of +5.8% year over year.
Net Sales- New Equipment: $1.28 billion versus $1.28 billion estimated by two analysts on average. Compared to the year-ago quarter, this number represents a -2.1% change.
Operating Profit- General corporate expenses and other: -$50 million versus the two-analyst average estimate of -$31.58 million.
View all Key Company Metrics for Otis Worldwide here>>>
Shares of Otis Worldwide have returned -1.2% over the past month versus the Zacks S&P 500 composite's -3% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.
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Otis Worldwide Corporation (OTIS) : Free Stock Analysis Report
