Otis Worldwide Corporation reports developments in its global elevator and escalator business, including manufacturing, installation, service and modernization activity. Company updates commonly cover service growth, repair and modernization demand, new equipment orders, backlog trends, cash flow, share repurchases and dividend actions.
News from Otis also includes product and technology initiatives such as the Otis Robust heavy-duty elevator range for data centers and mission-critical infrastructure, service-technology investments, executive conference participation and corporate responsibility programs tied to mobility, STEM and emerging technologies.
Otis Worldwide (NYSE: OTIS) declared a quarterly cash dividend of $0.44 per share on its common stock. The dividend will be payable on December 11, 2026, to shareholders of record at the close of business on November 13, 2026.
Otis Worldwide (OTIS) reported third-quarter 2026 net sales of $3.9 billion, with growth in both Service and New Equipment. Sales rose 6% year over year, including 6% organic growth, which excludes currency effects, acquisitions and certain other items. GAAP earnings per share rose 14% to $1.08; adjusted earnings per share were flat at $1.05.
Service sales increased 8%, while New Equipment sales rose 3%. Service operating margin reached 24.2%, up 100 basis points sequentially but down 130 basis points year over year. Adjusted operating profit fell $6 million to $626 million. Modernization orders rose 10% excluding currency effects. Operating cash flow declined to $337 million from $374 million. Otis maintained its full-year sales outlook of $15.1–$15.3 billion and adjusted earnings-per-share outlook of $4.01–$4.05, but revised expected adjusted free cash flow to approximately $1.5 billion from $1.50–$1.55 billion.
Otis Worldwide (NYSE: OTIS) will host its third-quarter earnings conference call on October 28, 2026, at 8:30 a.m. ET.
Chair, CEO and President Judy Marks and CFO Cristina Mendez will discuss third-quarter results and the 2026 outlook. A presentation and news release will be available on www.otis.com before the call, with a recording posted later that day.
Otis Worldwide (OTIS) announced that Chair, CEO and President Judy Marks will retire following the appointment of her successor, which is expected in the first half of 2027.
The board has begun a comprehensive CEO search, supported by Spencer Stuart, considering internal and external candidates under the oversight of a committee of independent directors. Marks will remain in her current roles through July 31, 2027 and, if a new CEO is appointed earlier, will serve as senior advisor until that date to support the transition.
Since Otis’ separation in April 2020, the company has returned $8.4 billion to shareholders, including $3.4 billion in dividends and $5 billion in share buybacks, and delivered a 77% total shareholder return. Under Marks, Otis shifted investment toward its higher-margin Service business, expanded its service portfolio by about 25% to approximately 2.5 million units and invested in modernization, AI-enabled systems and its 72,000-person workforce.
Otis (NYSE: OTIS) announced that Chair, CEO & President Judy Marks will take part in a fireside chat at Morgan Stanley’s 14th annual Laguna conference on September 17, 2026, at 12:20 p.m. PT (3:20 p.m. ET). The session will be broadcast live via a webcast accessible at www.otis.com.
Otis (NYSE: OTIS) has been chosen as the sole provider of the integrated vertical transportation solution for Tianjin 117 Tower, a nearly 600-meter, 117-floor supertall project set to become China’s third-tallest building with its highest occupied floor above 584 meters.
Otis will supply and modernize a total of 251 elevators and escalators, including Otis SkyRise single, double and super double-deck elevators, digitally native Gen3 elevators, and Otis Link and Public escalators. The project will feature record-setting systems such as hoistways over 597 meters, double-deck elevators reaching 463 meters, and speeds up to 12 meters per second, supported by ReGen drives, Panorama 3 management and Otis ONE IoT service for energy-efficient, connected, high-rise mobility.
Otis (NYSE: OTIS) announced that its Board of Directors declared a quarterly dividend of $0.44 per share on its common stock. The dividend is payable on September 11, 2026, to shareholders of record as of the close of business on August 14, 2026.
Otis (NYSE:OTIS) reported second quarter 2026 net sales of $3.9 billion, up 7% year over year with organic sales up 6%, driven by Service net sales growth of 11% (9% organic) and flat New Equipment net sales with organic sales down 1%.
GAAP operating profit rose to $575 million (+$28 million) while adjusted operating profit declined to $587 million (down $25 million) and adjusted operating margin fell 180 bps to 15.2%. GAAP EPS increased 13% to $1.12, but adjusted EPS decreased 4% to $1.01. Service delivered 9% organic sales growth, including 24% organic modernization growth and 6% maintenance and repair growth, though segment margin contracted 170 bps to 23.2%. New Equipment profit fell to $40 million with margin down 220 bps to 3.1% and orders down 5% at constant currency.
Operating cash flow was $267 million and adjusted free cash flow $290 million, alongside approximately $400 million of share repurchases in the quarter. For full-year 2026, Otis now guides net sales of $15.1–$15.3 billion, adjusted operating profit of about $2.4 billion, adjusted EPS of $4.01–$4.05, and adjusted free cash flow of $1.50–$1.55 billion.
Otis (NYSE: OTIS) announced that Otis Brazil has completed a comprehensive modernization of three Gen2 elevators serving visitors traveling via the Corcovado Train to Christ the Redeemer in Rio de Janeiro. The project includes new machinery, controls, signage and fixtures to enhance performance and visitor experience.
Otis will also install four new outdoor-ready Public Escalators and two customized inclined elevators to improve accessibility, especially for people with limited mobility. The work is part of a revitalization plan led by ICMBio and commissioned by concessionaire Trem do Corcovado, coinciding with the 120th anniversary of Otis in Brazil.
Otis (NYSE: OTIS) will host a conference call on July 22, 2026 at 8:30 a.m. ET to discuss second quarter 2026 results and the 2026 outlook. The call will feature Chair, CEO & President Judy Marks and EVP & CFO Cristina Mendez. A webcast, presentation, news release and replay will be available on the Otis website.