| Metric | Value ($ M) | Q1 FY26 | Q2 FY25 |
|---|---|---|---|
| Revenue | 3.9K | 8.2% | 7.3% |
| Total Income | 3.9K | 8.2% | 7.3% |
| Expenditure | 3.3K | 8.3% | 7.8% |
| PBT | 547.00 | 14.0% | 5.0% |
| Net Profit | 428.00 | 25.9% | 8.9% |
| OPM | 14.90% | 0.21pp | 0.32pp |
| NPM | 11.09% | 1.56pp | 0.16pp |
| EPS | 1.12 | 27.3% | 12.0% |
Otis Worldwide Corporation Reports Q2 2026 Results
22 Jul 2026 · 22 Jul, 3:41 pm
Summary
Otis Worldwide Corporation announced second quarter 2026 net sales of $3.9 billion, a 7% increase year-over-year, driven by strong performance in its Service segment. Organic sales grew by 6%, with Service organic sales up 9% due to double-digit growth in modernization and repair. While GAAP operating profit rose to $575 million and GAAP EPS increased 13% to $1.12, adjusted operating profit and adjusted EPS saw declines due to investments in growth initiatives and other corporate adjustments. Management expressed confidence in the Service-led growth model and the strong backlog, supporting expectations for continued growth.
Key Highlights
- 1
Otis reported second quarter 2026 net sales of $3.9 billion, an increase of 7% versus the prior year.
- 2
Organic sales for the second quarter of 2026 were up 6% compared to the prior year.
- 3
Service net sales increased 11% in the second quarter of 2026, with organic sales up 9%.
- 4
New Equipment net sales were flat in the second quarter of 2026, with organic sales down 1%, showing sequential improvement.
- 5
Second quarter GAAP operating profit increased by $28 million to $575 million.
- 6
Second quarter GAAP EPS increased 13% to $1.12, while adjusted EPS decreased 4% to $1.01.
- 7
Modernization orders were up 9% at constant currency, with backlog increasing 24%.
Management Comments
Judy Marks
Otis delivered a solid quarter, with net sales up 7%, supported by growth across all Service lines and sequential improvement in New Equipment trends. Our strategy, actions and investments in service quality are gaining traction as evidenced by double-digit growth in both modernization and repair sales with maintenance growth also accelerating, contributing to Service sales growth that matched the highest level achieved since spin. Strong backlog in both modernization and New Equipment provides good visibility and supports our expectation for continued growth in the quarters ahead. We remain confident in the long-term growth opportunities across our Service portfolio. An aging installed base and our customers’ increasing focus on reliability, uptime and Service quality are driving favorable demand in both modernization and repair, contributing to drive sustained growth and value creation. As we look to the second half of the year and take a measured approach to our outlook, we remain confident in the durability of our Service-led growth model. We are continuing to invest in our strategic priorities including Service quality, pricing initiatives, and the application of digital technology with a focus on front-line operating excellence and strong execution across the globe. This Service-driven strategy reinforces our conviction in the long-term growth potential of the business and our ability to deliver sustainable value creation for shareholders over time.
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