NYSE$OTIS
Otis Worldwide Corp · Q2 2024 earnings
Q2 2024 earnings · · Investor relations
Briefing
Otis demonstrated strong service performance, leading to mid-teens EPS growth.
Otis reported solid quarterly performance driven by the strength in the Service segment. The company's overall performance delivered mid-teens EPS growth and, based on this performance, Otis is raising its EPS outlook.
- GAAP EPS up 13.3% and adjusted EPS up 15.2% with continued margin expansion
- Service net sales up 3.0% and Service organic sales up 5.1%
- Mod orders up 14%, backlog up 15%, up 17% at constant currency
- Maintenance portfolio units increased 4.2%
Headline financials
Revenue & EPS history
Otis · Revenue · Quarterly
$3.6B
Revenue by segment
Otis · $3.52B total across 2 segments · Q3 2023
- Service$2.09B+10.1%59.3%
- New Equipment$1.44B-0.8%40.7%
Forward guidance
Otis is revising its full year outlook, increasing adjusted EPS to $3.85 to $3.90.
Tailwinds
- Net sales of $14.3 billion to $14.5 billion
- Organic sales up 1% to 3%
- Organic Service sales up 6% to 7%
- Adjusted operating profit of $2.40 billion to $2.45 billion, up $160 million to $190 million at constant currency; up $135 million to $175 million at actual currency
- Adjusted EPS of $3.85 to $3.90, up 9% to 10%; adjusted effective tax rate of approximately 25.25%
Headwinds
- Organic New Equipment sales down mid-single digits
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 2024
-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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