Recap: Otis Worldwide Q4 Earnings

Shares of Otis Worldwide OTIS moved higher by 1.3% in pre-market trading after the company reported Q4 results.

Quarterly Results

Earnings per share rose 40.43% over the past year to $0.66, which beat the estimate of $0.59.

Revenue of $3,493,000,000 rose by 4.18% from the same period last year, which beat the estimate of $3,360,000,000.

Outlook

The upcoming fiscal year's EPS expected to be between $2.67 and $2.77.

The upcoming fiscal year's revenue expected to be between $13,300,000,000 and $13,600,000,000.

Price Action

Company's 52-week high was at $68.21

52-week low: $41.26

Price action over last quarter: Up 5.71%

Company Profile

Otis is the largest global elevator and escalator supplier by revenue. In 1854 Otis' founder and namesake, Elisha Graves Otis, invented a safety mechanism that prevented elevators from falling if the hoisting cable failed. As the largest global OEM, over decades Otis has built a base of 2 million elevators under service. Its business model is much the same as that of its competitors Kone, Schindler, and Thyssenkrupp. Otis operates a razor and blade model where it manufactures and installs elevators at a low profit to build an installed base that will provide high profits from service in the years thereafter.