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Otis Worldwide 8-K Report, Financial Results (Oct 28, 2026)

Reports
Earnings & Results·Exhibits & Filings
Filing Date
Filed October 28, 2026
Period End
October 28, 2026
Security
OTIS
In the record · 2020–202610-K610-Q218-K63

OTIS filed 6 annual reports (10-K), 21 quarterly reports (10-Q) and 63 current reports (8-K) between 2020 and 2026.

  1. Leadership change8-K · Apr ’20Apr ’20
  2. Material agreement8-K · Nov ’21Nov ’21
  3. Material agreement8-K · Mar ’23Mar ’23
  4. Leadership change8-K · Jan ’26Jan ’26

01—Abstract

Summary

Summary of the 8-K filed October 28, 2026. Cited figures are marked; the original filing is the authoritative source.

Otis Worldwide Corporation (NYSE: OTIS) reported third quarter 2026 results on October 28, 2026, with net sales of $3.9 billiona ($3,914 million), up 6% versus the prior year, and organic sales also up 6%.

Service net sales grew 8% to $2.6 billionb, with organic Service sales up 7%, while New Equipment net sales rose 3% to $1.3 billion, with organic sales up 3%. GAAP operating profit increased $34 million to $620 million, but adjusted operating profit declined $6 million to $626 million, and the adjusted operating profit margin fell 110 basis points to 16.0%. GAAP diluted EPS rose 14% to $1.08, while adjusted EPS was flat at $1.05.

Segment profitability was mixed. Service segment operating profit margin contracted 130 basis points to 24.2% year over year but improved 100 basis points sequentially, while New Equipment segment operating profit fell $17 million to $42 millionc, with its margin down 150 basis points to 3.2%, driven by unfavorable price and mix and a decline in China. Modernization orders rose 10% at constant currency and backlog rose 20%.

Management maintained its full-year 2026 outlook, including net sales of $15.1 to $15.3 billiond and adjusted EPS of $4.01 to $4.05. Cash generation and shareholder returns were also highlighted. Third-quarter operating cash flow was $337 million and adjusted free cash flow was $272 million.

Year to date, Otis generated $1.0 billion in operating cash flow and $834 million in adjusted free cash flow, and returned approximately $1.3 billion to shareholders through roughly $800 million of share repurchases and approximately $500 million of dividends. The filing furnishes the press release as Exhibit 99 and it is not deemed filed under Section 18 of the Exchange Act.

02—Key points

Key Highlights

  1. Third-quarter net sales of $3.9 billion rose 6%, with organic sales also up 6%, led by Service growth of 8%.
  2. GAAP diluted EPS increased 14% to $1.08, primarily due to the absence of prior-year UpLift transformation costs, separation-related adjustments and other non-recurring items; adjusted EPS was flat at $1.05.
  3. Adjusted operating profit fell $6 million to $626 million, and the adjusted operating profit margin declined 110 basis points to 16.0%, reflecting a decline in New Equipment that offset Service growth.
  4. Service segment operating profit margin was 24.2%, down 130 basis points year over year but up 100 basis points sequentially; modernization sales rose 20%.
  5. New Equipment segment operating profit fell $17 million to $42 million, with the margin contracting 150 basis points to 3.2% on unfavorable price and mix and a greater than 20% decline in China.
  6. Modernization orders rose 10% at constant currency and backlog rose 20%; New Equipment backlog increased 4%.
  7. The 2026 outlook was maintained, with net sales of $15.1 to $15.3 billion, adjusted operating profit of approximately $2.4 billion and adjusted EPS of $4.01 to $4.05; adjusted free cash flow guidance is approximately $1.5 billion.

03—Questions

Frequently Asked Questions

  1. How did Otis perform in the third quarter of 2026?

    Net sales were $3.9 billion, up 6% with organic sales also up 6%. Service net sales rose 8% to $2.6 billion and New Equipment net sales rose 3% to $1.3 billion. GAAP EPS was $1.08, up 14%, and adjusted EPS was $1.05, flat year over year.

  2. Why did GAAP earnings rise while adjusted earnings were flat?

    The filing attributes the GAAP increase primarily to the absence of UpLift transformation costs, separation-related adjustments and other non-recurring items recorded in the prior year. Adjusted EPS was flat as lower share count and minority interest benefits were offset by a higher tax rate, higher interest expense and unfavorable FX rates.

  3. How are the Service and New Equipment segments performing on profitability?

    Service segment operating profit rose $12 million to $633 million, but its margin fell 130 basis points to 24.2%, though it improved 100 basis points sequentially. New Equipment segment operating profit fell $17 million to $42 million, with its margin at 3.2%, down 150 basis points, due to unfavorable price and mix and a decline in China.

  4. What is the outlook for 2026?

    Otis is maintaining its full-year 2026 outlook: net sales of $15.1 to $15.3 billion, organic sales up low to mid-single digits, adjusted operating profit of approximately $2.4 billion, adjusted EPS of $4.01 to $4.05, and adjusted free cash flow of approximately $1.5 billion.

  5. How much cash did Otis generate and return to shareholders?

    Year to date, operating cash flow was $1.0 billion and adjusted free cash flow was $834 million. Otis repurchased approximately $800 million of shares and paid approximately $500 million in dividends, returning approximately $1.3 billion to shareholders.

04—Continue

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