Otis Worldwide Opens 2021 on a Confident Note

Following its spinoff from Raytheon Technologies on April 3, 2020, global escalator and elevator manufacturer and servicer Otis Worldwide (NYSE: OTIS) found quick favor in the U.S. markets. Shares of Otis soared nearly 55% last year in part because the company suffered only a slight decline in organic revenue growth during a pandemic-impacted year.

The company's fourth-quarter 2020 report, issued on Monday, showed incremental improvement at year end. Management also issued a full-year 2021 forecast, which in itself is a mark of confidence given uncertainty around the lingering global impact of COVID-19. Below, we'll review highlights from the earnings filing and look ahead to management's expectations for the rest of this year.

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Source Fool.com