BUZZ-Otis slips after co forecasts lower-than-expected 2025 profit

Reuters
29 Jan
BUZZ-Otis slips after co forecasts lower-than-expected 2025 profit

** Shares of elevator-maker Otis Worldwide OTIS.N fall 3.1% to $92.90 premarket

** Co sees 2025 adjusted profit below estimates

** Q4 adjusted profit misses expectations on sustained weakness in demand for new equipment in China

** Expects 2025 adjusted EPS between $4.00 and $4.10, missing analysts' estimates of $4.14 per share - LSEG compiled data

** FY net sales outlook of $14.1 bln to $14.4 bln also below estimates of $14.6 bln

** But co posts Q4 total net sales of $3.68 bln, slightly above analysts' estimates of $3.64 bln

** Stock rose 3.5% in 2024

(Reporting by Rupali Chaudhary in Bengaluru)

((Rupali.Chaudhary@thomsonreuters.com))

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