Yahoo Finance What To Expect From Otis's (OTIS) Q2 Earnings
Elevator manufacturer Otis (NYSE:OTIS) will be reporting earnings tomorrow morning. Here's what to expect.
Otis met analysts' revenue expectations last quarter, reporting revenues of $3.44 billion, up 2.7% year on year. It was a weaker quarter for the company, with underwhelming earnings guidance for the full year 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 be flat year on year at $3.73 billion, slowing from the 7.7% increase it recorded in the same quarter last year. Adjusted earnings are expected to come in at $1.03 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, only Worthington has reported results so far. It missed analysts' revenue estimates by 9.6%, posting year-on-year sales declines of 13.6%. The stock was down 3.4% on the results.
Read our full analysis of Worthington's earnings results here.
There has been positive sentiment among investors in the industrial machinery segment, with share prices up 6.5% on average over the last month. Otis is up 2.7% during the same time and is heading into earnings with an average analyst price target of $100 (compared to the current share price of $99.47).
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