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Editorial Advisory Board

  • Professor Andrea M. Armani, University of Southern California
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  • Mohan Wang, Ph.D., University of Oxford
  • Professor Xuchen Wang, Harbin Engineering University
  • Professor Stefan Witte, Delft University of Technology

Otis (OTIS) Reports Q3: Everything You Need To Know Ahead Of Earnings

OTIS Cover Image

Elevator manufacturer Otis (NYSE: OTIS) will be reporting results tomorrow before the bell. Here’s what to look for.

Otis missed analysts’ revenue expectations by 3.4% last quarter, reporting revenues of $3.60 billion, down 3.2% year on year. It was a slower quarter for the company, with a miss of analysts’ organic revenue estimates. In addition, full-year revenue guidance fell below consensus expectations.

Is Otis a buy or sell going into earnings? Read our full analysis here, it’s free.

This quarter, analysts are expecting Otis’s revenue to grow 1.5% year on year to $3.57 billion, slowing from the 5.9% increase it recorded in the same quarter last year. Adjusted earnings are expected to come in at $0.97 per share.

Otis Total Revenue

Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. Otis has missed Wall Street’s revenue estimates four times over the last two years.

Looking at Otis’s peers in the general industrial machinery segment, some have already reported their Q3 results, giving us a hint as to what we can expect. Crane delivered year-on-year revenue growth of 12.7%, meeting analysts’ expectations, and John Bean reported revenues up 12.4%, topping estimates by 2.6%. John Bean traded up 17.8% following the results.

Read our full analysis of Crane’s results here and John Bean’s results here.

Investors in the general industrial machinery segment have had steady hands going into earnings, with share prices flat over the last month. Otis is down 2.4% during the same time and is heading into earnings with an average analyst price target of $100.51 (compared to the current share price of $101.45).

Here at StockStory, we certainly understand the potential of thematic investing. Diverse winners from Microsoft (MSFT) to Alphabet (GOOG), Coca-Cola (KO) to Monster Beverage (MNST) could all have been identified as promising growth stories with a megatrend driving the growth. So, in that spirit, we’ve identified a relatively under-the-radar profitable growth stock benefitting from the rise of AI, available to you FREE via this link.

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