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AI brief of an SEC Form 8-K · Otis Worldwide (OTIS)

Otis raises 2024 adjusted EPS outlook to $3.85-$3.90 as Q2 net sales fall 3.2%

Mixed Impact 4 of 5 earnings Written later

Otis reported second quarter 2024 net sales of $3.6 billion, down 3.2% from a year earlier, while GAAP EPS rose 13.3% to $1.02 and adjusted EPS rose 15.2% to $1.06. The company raised its full-year adjusted EPS outlook to $3.85 to $3.90, up 9% to 10%, though organic sales for the full year are now expected to rise only 1% to 3%.

Key points

  • Q2 2024 net sales were $3.6 billion, down 3.2%; organic sales fell 1.2%, with New Equipment sales down 11.4% and Service sales up 3.0%.
  • GAAP EPS was $1.02 (up 13.3%) and adjusted EPS was $1.06 (up 15.2%); GAAP operating profit was $570 million.
  • Full-year 2024 outlook: net sales of $14.3 billion to $14.5 billion and adjusted EPS of $3.85 to $3.90.
  • Otis repurchased $300 million of shares in the second quarter and $600 million in the first half of 2024.

The filing

CompanyOtis Worldwide (OTIS)
Form8-K, current report
Filed with the SECJul 24, 2024, 6:03 AM ET
Accession number0001781335-24-000036

Items reported: 2.02 Results of Operations

Read the filing on SEC.gov ↗

Written by AI on Nov 8, 2026, 1:10 AM ET, from this filing only. Written later: this filing was briefed after the fact, when past filings were added to the site, so the brief may be read with hindsight; the filing itself is the record of what was known on July 24, 2024.

Briefs are written by AI from the filing text and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the AI's reading of the filing for shareholders, not a price forecast. Not investment advice.