Otis is publishing its full-year outlook:
- Net sales of $13.8 to $14.1 billion vs. consensus $14.02 billion, up 1.5 to 4%
- Organic sales up 4 to 6%
- Organic new device sales increase by 3 to 5%
- Organic service sales up 5 to 7%
- Adjusted operating profit from $2.20 to $2.25 billion, up $130 to $175 million in constant currency; up to $70 to $130 million in actual currency
- Adjusted EPS from $3.35 to $3.50 versus $3.45 consensus, up 6 to 10%; adjusted effective tax rate from 26.0% to 26.5%
- Free cash flow of $1.5 to $1.55 billion with a conversion rate of 105 to 115% of GAAP net income
