Otis Worldwide Reports Strong Service Growth in Q1 2025

Otis Worldwide Corporation ( (OTIS) ) has released its Q1 earnings. Here is a breakdown of the information Otis Worldwide Corporation presented to its investors.

Otis Worldwide Corporation is a leading global manufacturer and service provider of elevators and escalators, known for its extensive service portfolio and commitment to innovation in the vertical transportation industry.

In its first quarter of 2025, Otis Worldwide Corporation reported net sales of $3.3 billion, with a notable performance in its Service segment driving organic sales growth and operating profit margin expansion. Despite a decline in GAAP earnings per share, the company achieved a 5% increase in adjusted EPS, reflecting strong operational performance.

Key financial highlights include a 4% increase in organic service sales and a 12% rise in modernization orders, contributing to a 14% growth in backlog at constant currency. The company also reported a decrease in GAAP operating profit due to transformation costs and other non-recurring items, while adjusted operating profit remained stable. Additionally, Otis executed share repurchases totaling approximately $250 million.

Looking ahead, Otis is optimistic about its strategic initiatives, projecting net sales growth of 3% to 4% for the full year 2025. The company anticipates continued strength in its Service segment, with organic sales expected to rise between 5% and 7%, supporting its commitment to shareholder value through consistent dividend increases.