OTIS - Otis Worldwide Corporation (OTIS) Q1 2024 Earnings Call Transcript

2024-04-24 11:25:30 ET

Otis Worldwide Corporation (OTIS)

Q1 2024 Earnings Conference Call

April 24, 2024 08:30 AM ET

Company Participants

Michael Rednor - Senior Director, IR

Judy Marks - Chair, CEO and President

Anurag Maheshwari - EVP and CFO

Conference Call Participants

Rob Wertheimer - Melius Research

Julian Mitchell - Barclays

Nigel Coe - Wolfe Research

Steve Tusa - JPMorgan

Joseph O'Dea - Wells Fargo

Nick Housden - RBC Capital Markets

Miguel Borrega - Exane BNP Paribas

Gautam Khanna - TD Cowen

Presentation

Operator

Good morning and welcome to Otis' First Quarter 2024 Earnings Conference Call. This call is being carried live on the internet and recorded for replay. Presentation materials are available for download from Otis' website at www.otis.com .

I'll now turn it over to Michael Rednor, Vice President of Investor Relations. Please go ahead.

Michael Rednor

Thank you, Sarah. Welcome to Otis' First Quarter 2024 Earnings Conference Call. On the call with me today are Judy Marks, Chair, CEO, and President; and Anurag Maheshwari, Executive Vice President and CFO.

Please note, except where otherwise noted, the company will speak to results from continuing operations excluding restructuring and significant non-recurring items. A reconciliation of these measures can be found in the appendix of the webcast. We also remind listeners that the presentation contains forward-looking statements which are subject to risks and uncertainties. Otis' SEC filings, including our Form 10-K and Quarterly Reports on Form 10-Q, provide details on important factors that could cause actual results to differ materially.

Now I'd like to turn the call over to Judy.

Judy Marks

Thank you, Mike, and good morning, afternoon, and evening, everyone. Thank you for joining us. Starting on slide 3, Otis started the year off with a solid first quarter, again confirming and demonstrating the continued strength of our service-driven business model, as we outlined during our Investor Day in February. Through the hard work and commitment of our colleagues across the globe, we achieved mid-single-digit organic sales growth driven by our Service business....

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