Otis Worldwide backs FY24 adjusted EPS view up 7%-10%, consensus $3.84

Backs FY24 organic sales up 3%-5%. Backs FY24 adjusted free cash flow $1.6B. “We have executed our strategy while creating long-term value. Between 2019 and 2023, we gained 3.5 points of New Equipment share, accelerated our Service portfolio growth to 4.2%, expanded adjusted operating profit margins by 170 basis points and drove 13% adjusted EPS CAGR. We leveraged our strong adjusted free cash flow to return approximately $4 billion to shareholders through dividends and share repurchases, and completed over $200 million in bolt-on M&A, while demonstrating our commitment to reduce our environmental impact,” said Chair, CEO & President Judy Marks. “On the back of our Service business and with our focus on operational excellence we are confident in our ability to continue to deliver value to our customers, passengers and shareholders as we capitalize on opportunities to drive strong financial performance and return capital to our shareholders.”