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Otis Worldwide: Q1 Earnings Snapshot

FARMINGTON, Conn. (AP) — FARMINGTON, Conn. (AP) — Otis Worldwide Corporation (OTIS) on Wednesday reported first-quarter net income of $340 million.

The Farmington, Connecticut-based company said it had profit of 87 cents per share. Earnings, adjusted for one-time gains and costs, came to 89 cents per share.

The results fell short of Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of 91 cents per share.

The company posted revenue of $3.57 billion in the period, which topped Street forecasts. Five analysts surveyed by Zacks expected $3.5 billion.

Otis Worldwide expects full-year earnings in the range of $4.20 to $4.24 per share, with revenue in the range of $15.1 billion to $15.3 billion.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on OTIS at https://www.zacks.com/ap/OTIS

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