Otis Worldwide Cuts Annual Outlook Below Estimates, Stock Down In Pre-Market

(RTTNews) - Otis Worldwide Corp. (OTIS), a maker of elevators, escalators, and moving walkways, on Wednesday revised down its annual guidance below Street view.

For the full year, the company now expects adjusted income per share of around $3.85, compared with the prior outlook of $3.85 to $3.90 per share.

Annual sales are now projected to be at around $14.2 billion, compared with earlier guidance of $14.3 billion to $14.5 billion.

On average, analysts polled by Thomson Reuters expect the firm to earn $3.87 per share, on revenue of $14.42 billion, for the year.

OTIS was down by 3.32 percent at $98 in the pre-market trade on the New York Stock Exchange.