Otis Worldwide Corp Q3 Profit Decreases, But Beats Estimates

(RTTNews) - Otis Worldwide Corp (OTIS) released a profit for third quarter that Decreased from last year but beat the Street estimates.

The company's earnings came in at $374 million, or $0.95 per share. This compares with $540 million, or $1.34 per share, last year.

Excluding items, Otis Worldwide Corp reported adjusted earnings of $411 million or $1.05 per share for the period.

Analysts on average had expected the company to earn $1.00 per share. Analysts' estimates typically exclude special items.

The company's revenue for the period rose 4.0% to $3.690 billion from $3.548 billion last year.

Otis Worldwide Corp earnings at a glance (GAAP) :

-Earnings: $374 Mln. vs. $540 Mln. last year. -EPS: $0.95 vs. $1.34 last year. -Revenue: $3.690 Bln vs. $3.548 Bln last year.

-Guidance: Full year EPS guidance: $4.04 to $4.08 Full year revenue guidance: $14.5 to $14.6 Bln