earnings
Schindler: Local Sourcing Means No U.S. Steel Tariff Hit
Paolo Compagna, CEO of Switzerland-based Schindler, told Reuters in February that most of what the company manufactures at its plants in North Carolina and Pennsylvania uses materials that are sourced and produced...
Otis Lowers Earnings Expectations on Continued Weak Demand in China
Otis expects full-year net sales of US$14.1 billion-US$14.4 billion, below estimates of US$14.6 billion as the Chinese property market crisis continues to weaken demand for new equipment, Reuters is among outlets to...
KONE’s 4Q 2024 Earnings Beat Estimate
Finnish OEM KONE posted 4th Quarter (4Q) 2024 earnings on January 30 that were above estimates and expects its adjusted profit margin to improve in 2025 and its sales to grow...
TKE Reports Financial Results With Sales Gains Driven by EOX
TK Elevator (TKE) reported record financial results for fiscal year (FY) 2023/24 with EUR9.3 billion (US$9.6 billion) in sales and EUR1.5 billion (US$1.55 billion) adjusted EBITDA (earnings before interest, taxes,...
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...
