WASHINGTON (dpa-AFX) - Otis Worldwide Corp. (OTIS) reported Wednesday that net income attributable to Otis for the fourth quarter grew to $374 million or $0.95 per share from $337 million or $0.84 per share in the prior-year quarter.
Excluding items, adjusted earnings for the quarter was $1.03 per share, compared to $0.93 per share in the year-ago quarter.
Net sales for the quarter increased 3 percent to $3.80 billion from $3.68 billion in the same quarter last year. Organic sales growth was 1 percent.
On average, analysts polled were expecting the company to report earnings of $1.03 per share in revenues of $3.87 billion for the quarter. Analysts typically exclude one-time items.
Looking ahead to fiscal 2026, the company now projects adjusted earnings growth in the mid to high single digits on net sales between $15.0 billion to $15.3 billion, with organic sales growth in the low to mid-single digits. The Street is looking $4.45 per share on net sales of $15.26 billion for the year.
In Wednesday's pre-market trading, OTIS is trading on the NYSE at $89.94, down $0.61 or 0.68 percent.
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