Otis Worldwide Q4 Profit Tops Estimates; Organic Sales Up 2.8%

(RTTNews) - Otis Worldwide Corp. (OTIS) reported fourth-quarter adjusted profit per share of $0.72 compared to $0.66, prior year. On average, nine analysts polled by Thomson Reuters expected the company to report profit per share of $0.68, for the quarter. Analysts' estimates typically exclude special items.

Net profit was $281 million or $0.65 per share compared to $251 million or $0.58 per share. Sales increased to $3.57 billion from $3.49 billion, a year ago. Analysts on average had estimated $3.58 billion in revenue. Organic sales were up 2.8%, for the quarter.

For 2022, the company estimates: net sales of $14.4 to $14.7 billion, up 1 to 3%; organic sales up 2.5 to 4.5%; and adjusted EPS of $3.20 to $3.30, up 6 to 10%. Analysts expect the company to report profit per share of $3.29 on revenue of $14.75 billion.