Yahoo Finance Otis Worldwide First Quarter 2024 Earnings: In Line With Expectations
Otis Worldwide (NYSE:OTIS) First Quarter 2024 Results
Key Financial Results
Revenue: US$3.44b (up 2.7% from 1Q 2023).
Net income: US$353.0m (up 6.6% from 1Q 2023).
Profit margin: 10% (in line with 1Q 2023).
EPS: US$0.87 (up from US$0.80 in 1Q 2023).
All figures shown in the chart above are for the trailing 12 month (TTM) period
Otis Worldwide Meets Expectations
Revenue was in line with analyst estimates. Earnings per share (EPS) was also in line with analyst expectations.
Looking ahead, revenue is forecast to grow 3.3% p.a. on average during the next 3 years, compared to a 3.5% growth forecast for the Machinery industry in the US.
Performance of the American Machinery industry.
The company's shares are down 3.1% from a week ago.
Risk Analysis
It's necessary to consider the ever-present spectre of investment risk. We've identified 3 warning signs with Otis Worldwide (at least 1 which doesn't sit too well with us), and understanding them should be part of your investment process.
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