Otis Worldwide Corp Q4 Profit Increases, But Misses Estimates

Otis Worldwide Corporation Registered Shs When Issued

95.92 EUR 1.20%

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(RTTNews) - Otis Worldwide Corp (OTIS) reported earnings for its fourth quarter that increased from last year but missed the Street estimates.

The company's earnings totaled $337 million, or $0.84 per share. This compares with $323 million, or $0.79 per share, last year.

Excluding items, Otis Worldwide Corp reported adjusted earnings of $374 million or $0.93 per share for the period.

Analysts on average had expected the company to earn $0.96 per share. Analysts' estimates typically exclude special items.

The company's revenue for the period rose 1.5% to $3.675 billion from $3.620 billion last year.

Otis Worldwide Corp earnings at a glance (GAAP) :

-Earnings: $337 Mln. vs. $323 Mln. last year. -EPS: $0.84 vs. $0.79 last year. -Revenue: $3.675 Bln vs. $3.620 Bln last year.