Otis: Q3 2024 Results (Quick Take)

Company Update (OTIS US) (Buy): The New Equipment market in China has deteriorated again; but Otis’s main structural drivers are intact.

(We are experimenting with an abbreviated format for some results updates to speed up publication; we will continue to publish in-depth reviews in the existing format.)

Introduction

Otis released Q3 2024 results this morning (October 30); shares were down ~6% in pre-market trading but have recovered to be down just ~2% as of 12:30 EST. Otis has been a mid-sized position in our “Select 15” model portfolio.

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