Otis Worldwide stock holds outlook after strong Q3 service growth

Otis Worldwide reported third-quarter 2026 results on October 28, with sales growth led by its Service business. According to the Otis investor release, net sales increased 6 percent year over year to USD 3.914 billion, while organic sales also rose 6 percent.

Service sales grew 8 percent to USD 2.616 billion, with organic growth of 7 percent. Maintenance and repair sales increased 4 percent organically, while modernization sales advanced 20 percent. Modernization backlog rose 20 percent year over year, pointing to continued demand for upgrades and replacements.

New Equipment sales increased 3 percent to USD 1.298 billion, helped by growth in the Americas, EMEA and Asia Pacific. China remained a drag, with the company reporting a decline of more than 20 percent in that market. New Equipment operating profit fell to USD 42 million, and its operating margin declined to 3.2 percent.

Margins remain the central issue

Otis reported GAAP earnings per share of USD 1.08, up 14 percent from the prior-year quarter. Adjusted earnings per share were USD 1.05, unchanged from a year earlier. Adjusted operating profit fell USD 6 million to USD 626 million, while the adjusted operating margin contracted to 16.0 percent from 17.1 percent.

The Service operating margin declined year over year to 24.2 percent but improved sequentially by 100 basis points. Otis attributed the quarter's operating development to volume, pricing, labor costs, productivity initiatives and business mix.

Otis Worldwide stock at Lang and Schwarz

Otis Worldwide stock traded at 69.87 euros on Lang & Schwarz at 23:00 CET on Wednesday, November 11, 2026. The quote provides the latest evening market reference for investors following the company after its quarterly report.

Otis maintained its 2026 outlook for net sales of USD 15.1 billion to USD 15.3 billion, organic sales growth in the low-to-mid-single-digit range and adjusted earnings per share of USD 4.01 to USD 4.05. The company expects Service sales to grow in the mid-to-high-single-digit range, while New Equipment sales are forecast to decline by low single digits to remain flat.

Elevators, escalators and services

Otis manufactures, installs, services and modernizes elevators and escalators. Its business is organized around Service and New Equipment, with modernization and maintenance supporting its installed-base activities.

Headquartered in Connecticut, United States, the company serves customers in more than 200 countries and territories. Otis says it maintains approximately 2.5 million customer units and employs 72,000 people worldwide.

The broader US equity market remains relevant for investors through the S&P 500.

More news and analyses on Otis Worldwide stock.