Otis slides after cutting FY revenue forecast

Otis Worldwide

23/07/2025 11:44

** Shares of elevator-maker Otis Worldwide OTIS.N slump 7.9% to $93 in premarket trading

** Co trims annual revenue forecast to $14.5-$14.6 bln from $14.6-$14.8 bln

** Mid-point of new forecast now below analysts expectations of $14.7 bln - data compiled by LSEG

** Q2 sales of $3.6 bln also below analysts estimates of $3.71 bln, though adj. EPS beats estimates

** Average rating of 16 analysts is a "hod", median PT at $103 - LSEG

** OTIS stock up about 9% YTD, till last close

 (Reporting by Purvi Agarwal in Bengaluru)

 ((Purvi.Agarwal@thomsonreuters.com;))