Adjusted earnings reached $1.05 a share, comfortably clearing the $1.01 estimate set by analysts. While new-equipment sales grew 3% to $1.3 billion—buoyed by orders across the Americas, Europe, and the Middle East—the company faced a distinct contraction in China. This regional weakness was effectively masked by the service unit, where revenue climbed 8% to $2.62 billion, driven by higher volume and pricing strategies despite mounting labor costs.
In section Market Quotes
Otis Profit Climbs as Service Contracts Offset China Slump
A 6% rise in quarterly sales to $3.91 billion has bolstered Otis Worldwide, as the elevator manufacturer leans on robust service contracts to navigate a cooling Chinese market. The Farmington-based firm outperformed Wall Street expectations, reporting net income of $414 million, or $1.08 a share, for the third quarter.
Looking toward 2026, the company reaffirmed its financial roadmap, projecting adjusted earnings between $4.01 and $4.05 a share. Management expects total sales to reach a range of $15.1 billion to $15.3 billion, an increase from the $14.4 billion anticipated for 2025. These figures align closely with current analyst consensus, suggesting stability even as the company manages shifting global demand patterns.
Comments (0)
No comments yet. Be the first!