Otis Worldwide Reports Q3 2026 Financial Results with 6% Net Sales Growth

Executive Summary

On October 28, 2026, Otis Worldwide Corporation (NYSE: OTIS) filed a Form 8-K under Item 2.02 (Results of Operations and Financial Condition) announcing its financial results for the third quarter ended September 30, 2026.

Key Financial Highlights

Third Quarter 2026 Performance

• Net Sales: $3,914 million, up 6% year-over-year (+6% organic sales growth), compared to $3,690 million in Q3 2025.
  • Service Segment: Net sales rose 8% to $2,616 million (+7% organic), driven by growth across all lines.
  • New Equipment Segment: Net sales increased 3% (+3% organic), with gains in Americas, EMEA, and Asia Pacific partially offset by lower volumes in China.
• Operating Profit:
  • GAAP Operating Profit: $620 million (15.8% margin), up $34 million from $586 million in Q3 2025, supported by the absence of prior-year transformation and separation expenses.
  • Adjusted Operating Profit: $626 million (16.0% margin), down $6 million compared to $632 million in Q3 2025.
  • Service Operating Profit Margin: Reached 24.2%, up 100 basis points sequentially.
• Earnings Per Share (EPS):
  • GAAP EPS: $1.08, an increase of 14% compared to $0.95 in Q3 2025.
  • Adjusted EPS: $1.05, flat compared to $1.05 in Q3 2025.
• Cash Flow & Capital Allocation:
  • Operating cash flow of $337 million; adjusted free cash flow of $272 million.
  • Year-to-date share repurchases totaled ~$800 million and dividends totaled ~$500 million, returning ~$1.3 billion to shareholders.

Outlook & Commentary

Otis broadly maintained its full-year 2026 outlook. Management noted sustained momentum in its modernization backlog (up 20% at actual and constant currency) and double-digit modernization order growth, reinforcing the company's Service flywheel strategy.