NYSE$OTIS
Otis Worldwide Corp · Q2 2021 earnings
Q2 2021 earnings · · Investor relations
Briefing
Delivered strong second quarter results with sales growth and margin expansion in both segments and double-digit New Equipment orders growth; improved 2021 outlook
Otis Worldwide Corporation reported strong second quarter 2021 results, with net sales of $3.7 billion, a 22.2% increase compared to the prior year, and organic sales up 15.4%. GAAP EPS increased 46.2% to $0.76, and adjusted EPS increased 41.1% to $0.79. The company improved its full-year outlook, raising the share repurchase target to $750 million.
- Net sales increased by 22.2%, with organic sales up 15.4%.
- GAAP EPS increased by 46.2%, and adjusted EPS increased by 41.1%.
- New Equipment orders increased by 23.9%, and backlog increased by 10%.
- GAAP cash flow from operations was $533 million, and free cash flow was $493 million, representing 151% of net income.
Headline financials
Revenue & EPS history
Otis · Revenue · Quarterly
$3.7B
Revenue by segment
Otis · $3.7B total across 2 segments · Q2 2021
- Service$1.97B—53.3%
- New Equipment$1.73B+33.5%46.7%
Forward guidance
Otis is improving its full year outlook:
Tailwinds
- Net sales of $14.1 to $14.2 billion, up 10.5 to 11%
- Organic sales up 7.5 to 8%
- Organic New Equipment sales up 12 to 13%
- Organic Service sales up 4 to 4.5%
- Adjusted operating profit of $2.16 to $2.18 billion, up $240 to $260 million at actual currency; up $170 to $190 million at constant currency
Headwinds
- Adjusted EPS of $2.89 to $2.93, up 15 to 16%; adjusted effective tax rate of approximately 29.0%
- Free cash flow of $1.45 to $1.5 billion with conversion of approximately 120% of GAAP net income
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 20 quarterly earnings reports · overlaid with Q2 2021
-0.1%
Avg return
Earnings day
-0.6%
Avg return
5 days after
+4.0%
Avg return
30 days after
30%
9 / 30 earnings
Positive
+10.8%
Q1 2021
Best reaction
-6.7%
Q1 2025
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q1 2026 | -2.5% | -1.8% | -7.7% | |
| Q4 2025 | -1.9% | -4.9% | +2.2% | |
| Q3 2025 | +2.3% | -1.2% | -2.7% | |
| Q2 2025 | -1.9% | -0.7% | -0.2% | |
| Q1 2025 | -6.7% | -5.4% | -2.2% | |
| Q4 2024 | -1.3% | -1.4% | +4.1% | |
| Q3 2024 | -3.1% | -1.9% | +1.6% | |
| Q2 2024 | -5.4% | -5.4% | -4.2% | |
| Q1 2024 | -4.6% | -4.2% | +0.1% | |
| Q4 2023 | -0.5% | +1.0% | +6.3% | |
| Q3 2023 | -2.3% | -0.9% | +10.1% | |
| Q2 2023 | +2.4% | +3.9% | -4.2% | |
| Q1 2023 | +3.9% | +4.0% | -1.0% | |
| Q4 2022 | +2.0% | +1.8% | +5.7% | |
| Q3 2022 | +1.7% | +2.6% | +14.3% | |
| Q2 2022 | +5.7% | +7.6% | +3.5% | |
| Q1 2022 | -1.4% | -0.8% | +0.1% | |
| Q4 2021 | +1.0% | -0.4% | -4.8% | |
| Q3 2021 | -6.3% | -6.2% | -1.4% | |
| Q2 2021 | -0.3% | +1.2% | +2.9% | |
| Q1 2021 | +10.8% | +9.2% | +9.1% | |
| Q4 2020 | -0.0% | -1.1% | +3.6% | |
| Q3 2019 | -1.9% | +0.3% | +8.7% | |
| Q3 2020 | -2.3% | -3.4% | +6.2% | |
| Q2 2019 | -0.3% | -0.5% | +0.3% | |
| Q2 2020 | +10.3% | +7.6% | +8.4% | |
| Q1 2019 | +0.0% | -6.9% | +13.0% | |
| Q1 2020 | +0.0% | -6.9% | +13.0% | |
| Q4 2019 | +0.0% | -6.9% | +13.0% | |
| Q4 2018 | +0.0% | +2.9% | +21.2% |
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