Quarterly ResultJul 23, 2026, 04:17 PM
Otis Q2 Net Sales $3.86B, EPS $1.12; Acquires French Company
AI Summary
Otis Worldwide Corporation reported strong financial results for the second quarter and first six months of 2026. Net sales increased to $3.86 billion for the quarter and $7.43 billion for the six months, driven by growth in service sales. Diluted earnings per share also saw significant increases, reaching $1.12 for the quarter and $1.99 for the six months. The company expanded its Service segment with a $170 million acquisition of a French elevator maintenance provider and returned capital to shareholders through $807 million in share repurchases.
Key Highlights
- Q2 2026 net sales increased 7.3% to $3.86 billion, up from $3.60 billion in Q2 2025.
- Q2 2026 diluted EPS rose 13.1% to $1.12, compared to $0.99 in Q2 2025.
- Six months 2026 net sales grew 6.9% to $7.43 billion, up from $6.95 billion in six months 2025.
- Six months 2026 diluted EPS increased 24.4% to $1.99, compared to $1.60 in six months 2025.
- Acquired majority ownership of a French elevator maintenance company for $170 million in April 2026.
- Net cash flows from operating activities for six months 2026 were $680 million, up from $405 million.
- Repurchased $807 million of common stock (9.6 million shares) during the first six months of 2026.
- Issued $700 million unsecured three-year notes due May 7, 2029, with a 4.488% interest rate.
Price Impact
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