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Income Statement (USD)
| Q2 '24 | QoQ | |
|---|---|---|
| Revenue | 3.6B | 6.1% |
| Gross Profit | 3.13B | 8% |
| Cost of Revenue | 474M | 4.6% |
| Operating expense | 514M | 4.6% |
| Net Income | 415M | 17.6% |
| EBITDA | 567M | 5.6% |
Balance Sheet (USD)
| Q2 '24 | QoQ | |
|---|---|---|
| Total Assets | 9.86B | 0.7% |
| Total Liabilities | 14.7B | 0.9% |
| Shares Outstanding | 403M | 0.6% |
Cash Flow (USD)
| Q2 '24 | QoQ | |
|---|---|---|
| Cash from operations | 308M | 80.1% |
| Cash from investing | -18M | 77.2% |
| Cash from financing | -212M | 54.6% |
EPS
Financial Highlights for Otis Worldwide in Q2 '24
Otis Worldwide reported a revenue of 3.6B, which is a 6.1% change from the previous quarter. An increase in revenue typically indicates growing demand for the company's products or services. This positive change in revenue is a good sign, suggesting that the company's sales are moving in the right direction.
Gross Profit stood at 3.13B, marking a 8% change since the last quarter. Gross profit showcases the efficiency in production and sales processes.
Cost of Revenue was 474M, a -4.6% difference from the previous quarter. A rising cost of revenue may suggest increased production or sales costs, which can impact margins. However, if accompanied by a proportionate rise in revenue, it could indicate scaling operations.
Operating Expenses for this period were 514M, showing a -4.6% change from the last quarter. Operating expenses cover the costs of running daily business operations. A significant increase might indicate inefficiencies or investments in growth, while a decrease could suggest cost-saving measures or potential underinvestment in key areas.
Net Income for the quarter was 415M, showing a 17.6% change from the prior quarter. Net income provides a clear picture of the company's profitability after all expenses. An increase suggests the company is becoming more profitable, while a decrease may raise concerns about the company's financial health, unless there are specific one-time costs or investments.
The company's EBITDA for the quarter was 567M, showing a 5.6% change from the previous period. EBITDA gives insight into the company's operational profitability, excluding non-operating expenses like interest and taxes. A rising EBITDA indicates strong operational performance, while a declining EBITDA may signal operational challenges or increased costs.
It was a positive quarter for Otis Worldwide with growth in revenue, gross profit, and net income.
