Otis Worldwide dips as Q1 net sales misses estimate

Otis Worldwide

23/04/2025 14:46

Updates shares

** Shares of elevator company Otis Worldwide OTIS.K down 7% at $92 in early trading after Q1 results

** Reports 2.5% drop in Q1 net sales to $3.30 bln, missing Wall St estimate of $3.37 bln, according to data compiled by LSEG

** The Connecticut-based company also expects tariff impact of $45 mln-$75 mln on operating profit

** Co posts Q1 adj. EPS of 92 cents vs analysts' estimate of 91 cents

** Co raises FY25 revenue forecast to between $14.6 bln and $14.8 bln from $14.1 bln-$14.4 bln

** Raises quarterly dividend by 8% to 42 cents per share

** As of last close, OTIS up 6.9% YTD

(Reporting by Twesha Dikshit)

((Twesha.Dikshit@thomsonreuters.com))