Otis falls on FY sales forecast cut, Q3 profit estimate miss

Otis Worldwide

30/10/2024 14:08

** Shares of elevator maker Otis  OTIS.N  fall nearly 3% at
$98
    ** Company cuts FY sales forecast and marginally misses Q3
estimates on Wednesday, as it navigates a challenging Chinese
property market
    ** Expects annual sales to be about $14.2 bln, below its
prior expectation of between $14.3 bln and $14.5 bln 
    ** Co posts Q3 adj. profit of 96 cents/shr below analysts'
estimates of 97 cents/shr - LSEG    
    ** Up to last close, stock up 13% YTD

 (Reporting by Anshuman Tripathy in Bengaluru)
 ((Anshuman.Tripathy@thomsonreuters.com;))