6 days ago
- Business
- Wall Street Journal
Otis Lowers Sales Outlook on Continued Challenges in China
Otis OTIS -10.21%decrease; red down pointing triangle Worldwide posted a larger-than-expected drop in new-equipment sales during the recent quarter, prompting the elevator maker to lower its full-year sales forecast.
New-equipment sales declined 10% to $1.28 billion in the second quarter. Chief Executive Judy Marks attributed the drop mainly to challenges in China, where sales fell more than 20%.
