Otis slips after co forecasts lower-than-expected 2025 profit

Otis Worldwide

29/01/2025 12:04

** Shares of elevator-maker Otis Worldwide  OTIS.N  fall
3.1% to $92.90 premarket
    ** Co sees 2025 adjusted profit below estimates 
    ** Q4 adjusted profit misses expectations on sustained
weakness in demand for new equipment in China
    ** Expects 2025 adjusted EPS between $4.00 and $4.10,
missing analysts' estimates of $4.14 per share - LSEG compiled
data
    ** FY net sales outlook of $14.1 bln to $14.4 bln also below
estimates of $14.6 bln
    ** But co posts Q4 total net sales of $3.68 bln, slightly
above analysts' estimates of $3.64 bln
    ** Stock rose 3.5% in 2024




 (Reporting by Rupali Chaudhary in Bengaluru)
 ((Rupali.Chaudhary@thomsonreuters.com))