WASHINGTON (dpa-AFX) - While reporting financial results for the fourth quarter on Wednesday, Otis Worldwide Corp. (OTIS) initiated adjusted earnings and net sales guidance for the full-year 2025, below analysts' expectations.
For fiscal 2025, the company now projects adjusted earnings in a range of $4.00 to $4.10 per share on net sales between $14.1 billion to $14.4 billion, with organic sales growth of 2 to 4 percent. The Street is looking $4.12 per share on net sales of $14.55 billion for the year.
On average, analysts polled expect the company to report earnings of $4.12 per share on net sales of $14.55 billion for the year. Analysts typically exclude one-time items.
Otis said it continues its strong execution on UpLift program and is increasing expected run-rate savings to $200 million by the second half of 2025.
Otis also launches China transformation program to adjust its operating model to adapt to changing market conditions, with expected run-rate savings of $30 million by year-end 2025.
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