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Compared to Estimates, Otis Worldwide (OTIS) Q2 Earnings: A Look at Key Metrics
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Otis Worldwide (OTIS - Free Report) reported $3.6 billion in revenue for the quarter ended June 2024, representing a year-over-year decline of 3.2%. EPS of $1.06 for the same period compares to $0.92 a year ago.
The reported revenue represents a surprise of -3.50% over the Zacks Consensus Estimate of $3.73 billion. With the consensus EPS estimate being $1.03, the EPS surprise was +2.91%.
While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.
As these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock's price performance more accurately.
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: $2.18 billion versus the two-analyst average estimate of $2.23 billion. The reported number represents a year-over-year change of +3%.
Net Sales- New Equipment: $1.42 billion versus the two-analyst average estimate of $1.50 billion. The reported number represents a year-over-year change of -11.4%.
Adjusted Operating Profit- New Equipment: $113 million versus $103.85 million estimated by two analysts on average.
Operating Profit- General corporate expenses and other: -$78 million versus -$33.77 million estimated by two analysts on average.
Adjusted Operating Profit- Service: $550 million compared to the $542.39 million average estimate based on two analysts.
Shares of Otis Worldwide have returned +2.8% over the past month versus the Zacks S&P 500 composite's +1.8% 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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Compared to Estimates, Otis Worldwide (OTIS) Q2 Earnings: A Look at Key Metrics
Otis Worldwide (OTIS - Free Report) reported $3.6 billion in revenue for the quarter ended June 2024, representing a year-over-year decline of 3.2%. EPS of $1.06 for the same period compares to $0.92 a year ago.
The reported revenue represents a surprise of -3.50% over the Zacks Consensus Estimate of $3.73 billion. With the consensus EPS estimate being $1.03, the EPS surprise was +2.91%.
While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.
As these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock's price performance more accurately.
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: $2.18 billion versus the two-analyst average estimate of $2.23 billion. The reported number represents a year-over-year change of +3%.
- Net Sales- New Equipment: $1.42 billion versus the two-analyst average estimate of $1.50 billion. The reported number represents a year-over-year change of -11.4%.
- Adjusted Operating Profit- New Equipment: $113 million versus $103.85 million estimated by two analysts on average.
- Operating Profit- General corporate expenses and other: -$78 million versus -$33.77 million estimated by two analysts on average.
- Adjusted Operating Profit- Service: $550 million compared to the $542.39 million average estimate based on two analysts.
View all Key Company Metrics for Otis Worldwide here>>>Shares of Otis Worldwide have returned +2.8% over the past month versus the Zacks S&P 500 composite's +1.8% 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.