Otis Worldwide Corporation ( (OTIS) ) has released its Q2 earnings. Here is a breakdown of the information Otis Worldwide Corporation presented to its investors.
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Otis Worldwide Corporation is a leading global manufacturer and service provider of elevators and escalators, headquartered in Connecticut, USA. The company operates in over 200 countries and territories, maintaining the largest service portfolio in the industry.
In the second quarter of 2025, Otis reported net sales of $3.6 billion, with a slight decline in organic sales by 2% compared to the previous year. Despite a decrease in GAAP earnings per share by 3%, the company highlighted strong performance in its Service segment, which saw a 6% increase in net sales and a 20 basis point expansion in operating profit margin.
Key financial metrics for the quarter included a 4% increase in the maintenance portfolio units and a 22% rise in modernization orders. However, new equipment orders experienced a 1% decline at constant currency, although they grew by 11% when excluding China. The company also executed share repurchases amounting to approximately $550 million.
Looking ahead, Otis reconfirmed its 2025 EPS outlook, driven by its service-driven strategy and continued growth in modernization and repair businesses. The company anticipates net sales to rise by 1 to 2% for the full year, with adjusted EPS expected to increase by 4 to 7%.
Otis remains focused on executing its UpLift program and China transformation initiatives, projecting significant savings by the end of 2025. The company is poised to maintain its growth trajectory through strategic investments and operational efficiencies.