Shares of Otis Worldwide OTIS remained unaffected after the company reported Q2 results.
Quarterly Results
Earnings per share increased 41.07% over the past year to $0.79, which beat the estimate of $0.71.
Revenue of $3,701,000,000 rose by 22.19% from the same period last year, which beat the estimate of $3,450,000,000.
Guidance
The upcoming fiscal year's EPS expected to be between $2.89 and $2.93.
The upcoming fiscal year's revenue expected to be between $14,100,000,000 and $14,200,000,000.
Details Of The Call
Date: Jul 26, 2021
Time: 08:30 AM
ET Webcast URL: https://edge.media-server.com/mmc/p/youppvgb
Technicals
Company's 52-week high was at $88.82
52-week low: $57.60
Price action over last quarter: Up 12.05%
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.
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