Otis Worldwide (OTIS) : 5-year performance

Otis Worldwide Corporation engages in manufacturing, installation, and servicing of elevators and escalators.

The company was acquired by United Technologies in 1976. 

In April 2020, Otis Elevators (OTIS) and Carrier Global (CARR) were spun off from United Technologies (UTX) to be independent companies.

United Technologies (UTX) merged with the Raytheon Company to form Raytheon Technologies, later renamed RTX Corporation. 

• Sector: Industrials
• Industry: Specialty Industrial Machinery
• Full Time Employees: 71,000
• Founded in 1853 
• Headquartered in Farmington, Connecticut
• https://www.otis.com

 

Carrier Global (CARR) reported earnings on Thur 24 Oct 24 (b/o)

It was a noisy third quarter for Carrier as it reclassified its fire and security segment to discontinued operations. The businesses in this segment should all be sold by year-end. Adjusted for this change, organic revenue increased 4%, but adjusted operating margin slipped 40 basis points to 17.4%.

• Carrier Global (CARR) went public on April 3, 2020, when it opened at $12.98.

** charts after earnings **

 

 

 

• Fire & Security segment now reported as discontinued operations making prior guidance not comparable
• Net sales of $6.0 billion up 21% versus third quarter 2023; organic sales up 4%
• GAAP EPS from continuing operations of $0.62 and adjusted EPS from continuing operations of $0.77
• Total GAAP EPS of $0.49 and adjusted EPS of $0.83
• Final business exit on-track to close around year end
• Board increases remaining share repurchase authorization to $4.7 billion