FARMINGTON, Conn. (AP) — FARMINGTON, Conn. (AP) — Otis Worldwide Corporation (OTIS) on Wednesday reported fourth-quarter profit of $323 million.
The Farmington, Connecticut-based company said it had net income of 79 cents per share. Earnings, adjusted for one-time gains and costs, were 87 cents per share.
The results topped Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 85 cents per share.
The company posted revenue of $3.62 billion in the period.
For the year, the company reported profit of $1.41 billion, or $3.39 per share. Revenue was reported as $14.21 billion.
Otis Worldwide expects full-year earnings in the range of $3.80 to $3.90 per share, with revenue in the range of $14.5 billion to $14.8 billion.
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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on OTIS at https://www.zacks.com/ap/OTIS