earnings
Otis Faces Below-Expected 3Q Earnings, Cuts 2024 Projection
The Dow Jones reports that Otis posted third-quarter (3Q) earnings of US$540 million, or US$1.34 a share, up from US$376 million, or US$.91 a share, a year earlier. Excluding certain...
European Lift Makers 2Q Order Intake Above Expectations
Schindler and KONE posted second-quarter order intake above expectations, but warned China's construction slowdown was weighing on new installations, Reuters reports. Schindler's order intake was down 0.4% from a year...
Otis Cuts Sales View With Slowdown in China and U.S.
Otis Worldwide lowered its 2024 net sales forecast on July 24 on softening demand for its new equipment from North America and China, Reuters reports. The company expects its full-year...
A Look at Schindler’s 2024 Sales Targets
Schindler reiterated its full-year revenue guidance for low single-digit percentage growth, cutting expectations for new installations in China, Reuters reports. Chinese installations outpaced the rest of the Asia-Pacific in units...
Order, Revenue Growth in 2023 Buoy Schindler’s 2024 Outlook
A continuing "trajectory of enhanced profitability and sustainable growth" in 2023 despite challenging market conditions, as well as a revamped business strategy focused on customer service, have Swiss OEM Schindler...
KONE Expects Stable or Slightly Higher Sales This Year
KONE expects 2024 sales to remain stable or grow slightly in 2024 as weak consumer sentiment continues to hinder sales in China — representing about a third of the company's...
Otis Hosting Q4 and Full-Year Earnings Results Call
Otis Worldwide Corp. will host a conference call on January 31, at 8:30 a.m. eastern standard time during which Otis Chair, CEO and President Judy Marks and Executive Vice President...
Otis To Provide 15 Elevators for New Burnaby Master-Planned Community
Otis President and CEO Judy Marks announced during a third quarter 2023 earnings call on October 25 that the company has been contracted to provide seven SkyRise® and eight Gen3TM...
KONE Reports Boost in Q3 Orders from China
KONE reported better than expected new orders for the third quarter, boosted by strong momentum in Chinese orders, Reuters reports. The company, which makes around a third of its sales...
Schindler Raises 2023 Revenue and Net Profit Forecast
Swiss elevator maker Schindler lifted its 2023 revenue and net profit forecast on October 19, saying its services business continued to grow while new installations declined less than the market,...
