Otis Worldwide Reports Q3 Earnings Beat on Strong Revenue Growth
Otis Worldwide (NYSE: OTIS) reported third-quarter financial results that exceeded analyst expectations for both earnings and revenue. The company posted a Non-GAAP earnings per share (EPS) of $1.05, surpassing estimates by $0.04, while total revenue reached $3.91 billion, beating projections by $50 million. The growth was primarily driven by a 6% year-over-year increase in both net sales and organic sales. A key contributor to this performance was the Service segment, which saw net sales rise by 8% with an organic growth rate of 7%, signaling strong demand within its recurring revenue streams.
Tickers: $OTIS
Topics: earnings beat revenue growth service segment performance
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