Earnings Releases·Oct 28, 2026, 6:04 AM ET

Otis Worldwide — Third Quarter 2026 Earnings Summary

Net sales reached $3.9 billion for the quarter, up 6% year-over-year, while GAAP operating profit rose 6% to $620 million; however, adjusted operating profit declined $6 million year-over-year to $626 million, and adjusted EPS remained flat at $1.05.
The company maintained its full-year 2026 net sales guidance of $15.1 to $15.3 billion but revised full-year adjusted free cash flow guidance down to approximately $1.5 billion from a prior range of $1.50 to $1.55 billion.
Service segment performance drove growth with an 8% year-over-year sales increase and a 100 basis point sequential margin improvement to 24.2%, whereas New Equipment sales grew 3% but faced margin contraction due to unfavorable mix and pricing.
Capital return totaled approximately $1.3 billion year-to-date, comprising $800 million in share repurchases and $500 million in dividends, while New Equipment backlog increased 4% and modernization backlog surged 20%.