Elevator manufacturer Otis (NYSE:OTIS) will be reporting results tomorrow before market hours. Here’s what investors should know.
Otis beat analysts’ revenue expectations by 1% last quarter, reporting revenues of $3.68 billion, up 1.5% year on year. It was a slower quarter for the company, with a miss of analysts’ adjusted operating income estimates and full-year revenue guidance missing analysts’ expectations.
Is Otis a buy or sell going into earnings? Read our full analysis here, it’s free.
This quarter, analysts are expecting Otis’s revenue to decline 2.4% year on year to $3.35 billion, a reversal from the 2.7% increase it recorded in the same quarter last year. Adjusted earnings are expected to come in at $0.91 per share.
Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. Otis has missed Wall Street’s revenue estimates four times over the last two years.
Looking at Otis’s peers in the industrial machinery segment, some have already reported their Q1 results, giving us a hint as to what we can expect. GE Aerospace posted flat year-on-year revenue, missing analysts’ expectations by 7.9%, and 3M reported a revenue decline of 25.6%, topping estimates by 4.6%.
Read our full analysis of GE Aerospace’s results here and 3M’s results here.
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