On October 28, 2026, Otis Worldwide Corporation reported its third quarter 2026 results, filing an 8-K with the SEC that included a press release as an exhibit. The company reported net sales of $3.9 billion for the quarter, representing a 6% increase compared to the prior year. Organic sales, which exclude the impact of foreign currency translation, acquisitions, and divestitures, also grew by 6%.
Revenue growth was driven by the Service segment, which posted net sales of $2.6 billion, an 8% increase versus the prior year. Within Service, organic maintenance and repair sales increased 4%, while organic modernization sales grew 20%. The New Equipment segment reported net sales of $1.3 billion, up 3% year-over-year, with growth in the Americas, EMEA, and Asia Pacific partially offset by a decline in China.
Regarding profitability, Otis reported GAAP operating profit of $620 million for the quarter, an increase of $34 million compared to the prior year. However, adjusted operating profit decreased by $6 million at actual currency. The Service segment operating profit margin improved sequentially by 100 basis points to 24.2%. In contrast, the New Equipment segment operating profit margin contracted by 150 basis points to 3.2%.
For the first nine months of 2026, Otis reported net sales of $11.3 billion, up 7% year-over-year. The company generated $337 million in operating cash flow and $272 million in adjusted free cash flow for the third quarter. During the nine-month period, Otis returned approximately $1.3 billion to shareholders through share repurchases of about $800 million and dividends of about $500 million.
Looking ahead, Otis is maintaining its full year 2026 outlook, projecting net sales between $15.1 billion and $15.3 billion, adjusted operating profit of approximately $2.4 billion, and adjusted EPS of $4.01 to $4.05. The company also revised its adjusted free cash flow guidance to a range of approximately $1.5 billion.
