Otis cuts annual sales view on slowdown in construction activity in China, US

By Yahoo! Finance | Jul 24, 2024 at 08:07 AM EST

Otis Worldwide has reduced its 2024 net sales outlook due to weaker demand in North America and China for new equipment. Quarterly net sales for new equipment dropped 11.4%, but services segment sales increased. Adjusted profit per share also improved in the second quarter.

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