NYSE$OTIS
Otis Worldwide Corp · Q3 2021 earnings
Q3 2021 earnings · · Investor relations
Briefing
Delivered strong third quarter results with sales growth and margin expansion in both segments and improved 2021 outlook.
Otis Worldwide Corporation reported strong third quarter results with net sales of $3.6 billion, a 10.8% increase, and organic sales up by 8.1%. GAAP EPS increased by 26.2% and adjusted EPS increased by 11.6%. The company has improved its full-year outlook with organic sales expected to increase by 8.5 to 9.0% and adjusted EPS of approximately $2.95.
- 3Q Net sales up 10.8%; organic sales up 8.1%
- 3Q GAAP EPS up 26.2%; adjusted EPS up 11.6%
- 3Q New Equipment orders up 3.8%; backlog up 4%, 1% at constant currency
- Improved outlook for full-year with organic sales up 8.5 to 9.0%, adjusted earnings per share of ~$2.95 and free cash flow of ~$1.5 to $1.55 billion
Headline financials
Revenue & EPS history
Otis · Revenue · Quarterly
$3.62B
Revenue by segment
Otis · $3.62B total across 2 segments · Q3 2021
- Service$1.94B—53.6%
- New Equipment$1.68B+18.1%46.4%
Forward guidance
Otis is improving its full year outlook:
Tailwinds
- Net sales of ~$14.3 billion, up 11.8 to 12.3%
- Organic sales up 8.5 to 9.0%
- Organic New Equipment sales up 15.0 to 15.5%
- Organic Service sales up ~4.0%
- Adjusted operating profit of $2.18 to $2.19 billion, up $260 to $270 million at actual currency; up $195 to $205 million at constant currency
Headwinds
- Adjusted EPS of ~$2.95, up ~17%; adjusted effective tax rate in a range of 28.5 to 29.0%
- Free cash flow of $1.5 to $1.55 billion with conversion of approximately 125% 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 Q3 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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