Otis Worldwide Corp. OTIS posted stronger-than-expected fourth-quarter earnings on Wednesday, despite macro challenges it says are pressuring its business. The elevator and escalator manufacturer posted net income of $297 million, or 71 cents a share, for the quarter, up from $281 million, or 65 cents a share, in the year-earlier period. Adjusted per-share earnings came to 75 cents, ahead of the 73 cent FactSet consensus. Sales fell to $3.439 billion from $3.569 billion, but were also ahead of the $3.356 billion FactSet consensus. The company is now expecting full-year adjusted EPS of $3.35 to $3.50, which compares with a FactSet consensus of $3.43. It expects sales of $13.8 billion to $14.1 billion, compared with a FactSet consensus of $13.7 billion. The stock is down 1.6% in the last 12 months, outperforming the S&P 500 SPX which is down 10%.
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