Otis: raises FY 2021 targets

(CercleFinance.com) - At its quarterly trading update, lift maker Otis is raising its FY target ranges, now aiming for adjusted EPS of 2.
78 to 2.84 dollars, as well as organic sales growth of between 4% and 6%.

The company has published Q1 2021 adjusted EPS that is up 20% at 72 cents, above the consensus, and a 40-bp rise in its adjusted operating margin to 15.6%.

At 3.4 billion dollars, sales increased by 14.9%, including organic growth of 10.3%, which is driven by both new equipment installations and by services.



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