Flash FinanceUS
Market closed S&P 5007,376.86+0.31% Nasdaq24,579.42+1.09% Dow 3051,285.73-0.46% Russell 20002,754.11+0.89% Nasdaq-10026,989.99+1.35% MidCap 4003,602.50+0.56% SmallCap 6001,673.98+0.05% VIX25.64-9.01% 10Y Yield4.86+0.45% Close of Nov 06, 2026
AI brief of an SEC Form 8-K · Otis Worldwide (OTIS)

Otis Q3 net sales rise 0.7% to $3.5 billion; GAAP EPS up 47.3% on tax benefit

Positive Impact 4 of 5 earnings Written later

Otis reported third quarter 2024 results on October 30, 2024. Net sales rose 0.7% to $3.5 billion, driven by Service, while New Equipment sales fell 8.8%, and the company updated its full-year outlook to adjusted EPS of about $3.85, up about 9%. GAAP EPS rose 47.3% to $1.34 mainly because of a non-recurring tax benefit, while GAAP operating profit fell $208 million to $363 million.

Key points

  • Third quarter net sales of $3.5 billion, up 0.7%; Service sales up 7.2% and New Equipment sales down 8.8%
  • GAAP EPS of $1.34, up 47.3%, driven by a non-recurring tax benefit; adjusted EPS of $0.96, up 1.1%
  • GAAP operating profit of $363 million, down $208 million, mainly due to separation-related adjustments
  • Full-year outlook: adjusted EPS of about $3.85 and adjusted free cash flow of $1.4 billion to $1.5 billion

The filing

CompanyOtis Worldwide (OTIS)
Form8-K, current report
Filed with the SECOct 30, 2024, 6:06 AM ET
Accession number0001781335-24-000054

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 October 30, 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.