WASHINGTON (dpa-AFX) - (Adds Outlook)
For the full year, Otis Worldwide Corp (OTIS) cut its sales outlook to $14.3 billion- $14.5 billion from $14.5 billion-$14.8 billion guided earlier.
The company also revised its adjusted EPS outlook to $3.85 - $3.90 compared with the previous outlook of $3.83 to $3.90.
Analysts expect the company to report earnings of $3.87 per share on revenue of $14.62 billion for the year.
Q2 Results:
Otis reported a profit for its second quarter that increased from the same period last year and beat the Street estimates.
The company's bottom line totaled $415 million, or $1.02 per share. This compares with $376 million, or $0.90 per share, in last year's second quarter.
Excluding items, Otis Worldwide Corp reported adjusted earnings of $428 million or $1.06 per share for the period.
Analysts on average had expected the company to earn $1.03 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.
The company's revenue for the quarter fell 3.2% to $3.60 billion from $3.72 billion last year.
Otis Worldwide Corp earnings at a glance (GAAP) :
-Earnings (Q2): $415 Mln. vs. $376 Mln. last year. -EPS (Q2): $1.02 vs. $0.90 last year. -Revenue (Q2): $3.60 Bln vs. $3.72 Bln last year.
-Guidance: Full year EPS guidance: $3.85 - $3.90 Full year revenue guidance: $14.3 - $14.5 Bln
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