Otis Worldwide: Fourth Quarter Earnings Overview

Otis Worldwide Reports Fourth-Quarter Financial Results

Otis Worldwide Corporation, headquartered in Farmington, Connecticut, announced a net income of $374 million for the fourth quarter.

The company’s earnings translated to $0.95 per share. After accounting for restructuring and one-time expenses, adjusted earnings reached $1.03 per share.

These adjusted results were in line with analysts’ expectations, as five experts polled by Zacks Investment Research had also projected earnings of $1.03 per share.

During the quarter, Otis generated $3.8 billion in revenue, which fell short of the $3.9 billion anticipated by analysts surveyed by Zacks.

For the full year, Otis reported a total profit of $1.38 billion, or $3.50 per share, with annual revenue amounting to $14.43 billion.

Looking ahead, the company forecasts its revenue for the coming year to be between $15 billion and $15.3 billion.