Quarterly ResultJul 22, 2026, 06:11 AM
Otis Q2 Net Sales $3.9B, GAAP EPS $1.12, Adjusted EPS $1.01
AI Summary
Otis Worldwide Corporation reported second quarter 2026 net sales of $3.9 billion, a 7% increase year-over-year, with organic sales up 6%. GAAP earnings per share increased 13% to $1.12, while adjusted EPS decreased 4% to $1.01. The company saw strong performance in its Service segment, with net sales up 11% and organic sales up 9%, driven by double-digit growth in modernization and repair. New Equipment net sales were flat, improving sequentially, but operating profit declined. Otis also revised its full-year outlook, projecting net sales of $15.1 to $15.3 billion and adjusted EPS of $4.01 to $4.05.
Key Highlights
- Q2 Net Sales increased 7% to $3.9 billion; organic sales up 6%.
- Q2 GAAP EPS rose 13% to $1.12; Adjusted EPS decreased 4% to $1.01.
- Service net sales grew 11% to $2.6 billion; organic sales up 9%.
- New Equipment net sales were flat at $1.3 billion; organic sales down 1%.
- Modernization orders increased 9% at constant currency; backlog up 26%.
- Operating cash flow was $267 million; adjusted free cash flow $290 million.
- Repurchased approximately $400 million in shares during Q2.
- Revised full-year net sales outlook to $15.1-$15.3 billion.
Price Impact
More from OTIS