Otis is announcing its full year outlook:
- Net sales of $13.8 to $14.1 billion vs $14.02B consensus, up 1.5 to 4%
- Organic sales up 4 to 6%
- Organic New Equipment sales up 3 to 5%
- Organic Service sales up 5 to 7%
- Adjusted operating profit of $2.20 to $2.25 billion, up $130 to $175 million at constant currency; up $70 to $130 million at actual currency
- Adjusted EPS of $3.35 to $3.50 vs $3.45 consensus, up 6 to 10%; adjusted effective tax rate between 26.0% and 26.5%
- Free cash flow of $1.5 to $1.55 billion with conversion of 105 to 115% of GAAP net income
