Otis Worldwide Corporation · NYSE:OTIS
Otis Worldwide — Q3 2026 Earnings Presentation
26 slides from Otis Worldwide's earnings presentation, Oct 28, 2026
Slide 1: Q3 2026 Earnings Call
Q3 2026 Earnings Call October 28, 2026 © 2026 OTIS WORLDWIDE CORPORATION.
Slide 2: Forward-Looking Statements
Forward-Looking Statements Note: All results and expectations in this presentation reflect continuing operations unless otherwise noted. This communication contains statements which, to the extent they are not statements of historical or present fact, constitute "forward-looking statements" under th
Slide 3: Q3 2026 highlights
Q3 2026 highlights YTD 2026 Strong Service momentum and growth in New Equipment drive third quarter results... 7% • Organic1 sales up 6%… Service up 7% Service organic1 sales growth • Maintenance & repair organic1 sales up 4% • Modernization organic1 sales up 20% • New Equipment organic1 sales up 3%
Slide 4: Q3 2026 orders
Q3 2026 orders Q3 2026 highlights (Y/Y) Orders1 Otis Total Otis ex-China New Equipment 1% 5% Modernization 10% 8% Total 4% 6% Rutgers University Wuhan Metro New Jersey, USA Wuhan, China Backlog1 Otis Total Otis ex-China New Equipment 4% 8% Modernization 20% 19% Total 7% 10% 99 City Road UOB Plaza Lo
Slide 5: Q3 2026 results
Q3 2026 results ($ millions, except per share amounts) Sales Operating profit Diluted earnings per share GAAP 586 620 GAAP $0.95 $1.08 3,914 Adjusted1 632 626 3,690 Adjusted1 $1.05 $1.05 Adjusted 17.1% 16.0% margin1 Q3 2025 Q3 2026 Q3 2025 Q3 2026 Q3 2025 Q3 2026 Organic1 6% Adjusted operating profi
Slide 6: Q3 2026 Service segment results
Q3 2026 Service segment results Service 94% ($ millions) Segment Operating Profit Sales Operating Profit Y/Y Y/Y 2,616 2,433 8% 633 2% 621 Organic1 25.5% Operating 24.2% profit margin New Equipment 7% (130) bps Q3 2025 Q3 2026 Q3 2025 Q3 2026 Organic1 sales up 7% Operating profit up $20M at constant
Slide 7: Q3 2026 New Equipment segment results
Q3 2026 New Equipment segment results New Equipment 6% ($ millions) Segment Operating Profit Sales Operating Profit Y/Y Y/Y 1,257 1,298 3% (29%) 59 42 Operating Organic1 4.7% profit margin 3.2% 3% (150) bps Q3 2025 Q3 2026 Q3 2025 Q3 2026 Service Organic1 sales up 3% Operating profit down $22M at co
Slide 8: 2026 outlook
2026 outlook Sales Profit, free cash flow and EPS Actual currency adj. Organic1 Service sales up mid to high single digits down $30M to ~flat operating profit1 Organic1 New Equipment down low single digits to Constant currency adj. down $45M to $15M sales flat operating profit1 Organic1 sales up low
Slide 9: © 2026 OTIS WORLDWIDE CORPORATION.
© 2026 OTIS WORLDWIDE CORPORATION. 9
Slide 10: Appendix
Appendix © 2026 OTIS WORLDWIDE CORPORATION. 10
Slide 11: Backlog and orders
Appendix Backlog and orders ($ billions, at constant currency1) Modernization orders Remaining performance obligation Q3 2026 Y/Y YTD 2026 Y/Y Y/Y Total Otis 10% 10% 4% 19.7 19.5 Otis ex-China 8% 4% 18.7 Modernization 20% Maintenance New Equipment orders 1% & repair Q3 2026 Y/Y YTD 2026 Y/Y Total Ot
Slide 12: Q3 2026 adjusted operating profit drivers
Appendix Q3 2026 adjusted operating profit1 drivers Actual currency ($17M) +$12M ($1M) ($6M) ($3M) at constant currency1 ($1M) ($3M) $632M ($22M) $20M $626M + Productivity + Volume + + - -- Volume Pricing Price & mix Labor, net of one time benefits - Investments & productivity Mix Q3 2025 adjusted 1
Slide 13: YTD 2026 results
Appendix YTD 2026 results ($ millions, except per share amounts) Sales Operating profit Diluted earnings per share GAAP $1,544 $1,734 GAAP $2.55 $3.07 11,339 Adjusted1 1,804 1,763 Adjusted1 $3.02 10,635 $2.96 17.0% Adjusted 15.5% margin1 YTD 2025 YTD 2026 YTD 2025 YTD 2026 YTD 2025 YTD 2026 Organic1
Slide 14: YTD 2026 Service segment results
Appendix YTD 2026 Service segment results Service 94% ($ millions) Segment Operating Profit Sales Operating Profit Y/Y Y/Y 7,613 10% 3% 6,939 1,788 1,736 Organic1 Operating 25.0% profit margin New 23.5% Equipment 7% (150) bps YTD 2025 YTD 2026 YTD 2025 YTD 2026 Organic1 sales up 7% Operating profit
Slide 15: YTD 2026 New Equipment segment results
Appendix YTD 2026 New Equipment segment results New Equipment 6% ($ millions) Segment Operating Profit Sales Operating Profit Y/Y Y/Y 3,696 3,726 193 1% (38%) 120 Organic1 Operating profit margin 5.2% (1%) 3.2% (200) bps YTD 2025 YTD 2026 YTD 2025 YTD 2026 Service Organic1 sales down 1% Operating pr
Slide 16: YTD 2026 adjusted operating profit drivers
Appendix YTD 2026 adjusted operating profit1 drivers Actual currency ($73M) +52 ($20M) ($41M) ($73M) at constant currency1 $1,804M ($79M) $26M ($20M) $32M $1,763M + + -- Productivity Volume + -- Volume Pricing Price & mix Labor, net of one time benefits - Investments and productivity Mix YTD 2025 ad
Slide 17: Use and Definitions of Non-GAAP Financial Measures
Appendix Use and Definitions of Non-GAAP Financial Measures Otis Worldwide Corporation (“Otis”) reports its financial results in accordance with accounting principles generally accepted in the United States ("GAAP"). We supplement the reporting of our financial information determined under GAAP with
Slide 18: Additional information
Appendix Additional information Actuals FY26 outlook 1Q26 2Q26 3Q26 YTD26 Prior Current UpLift and other restructuring expense $7M $11M $5M $23M ~$80M ~$40M Non-service pension cost (benefit) $0M $2M $0M $2M ~$5M ~$5M Adjusted net interest expense $59M $68M $69M $196M ~$265M ~$270M Adjusted effectiv
Slide 19: 2026 GAAP to adjusted financials reconciliation
Appendix 2026 GAAP to adjusted financials reconciliation ($ millions) Income 1Q26 2Q26 3Q26 Net income attributable to Otis 340 428 414 Noncontrolling interest in subsidiaries’ earnings 13 21 12 Income tax expense (benefit) 127 98 126 Net interest expense 59 26 68 Non-service pension benefit (expens
Slide 20: 2025 GAAP to adjusted financials reconciliation
Appendix 2025 GAAP to adjusted financials reconciliation ($ millions) Income 1Q25 2Q25 3Q25 4Q25 FY 2025 Net income attributable to Otis 243 393 374 374 1,384 Noncontrolling interest in subsidiaries’ earnings 13 30 18 10 71 Income tax expense (benefit) 110 98 129 142 479 Net interest expense 45 26 6
Slide 21: Organic sales reconciliation
Appendix Organic sales reconciliation Maintenance & Q3 2026 Y/Y Total Otis New Equipment Service Modernization repair Organic 6% 3% 7% 4% 20% FX 0% 0% (1%) (1%) 0% Acquisitions / divestitures, net and other1 0% 0% 2% 1% 0% Total net sales growth 6% 3% 8% 4% 20% Maintenance & YTD 2026 Y/Y Total Otis
Slide 22: Segment and total adjusted operating profit at constant currency reconciliations
Appendix Segment and total adjusted operating profit at constant currency reconciliations ($ millions) Q3 2025 Q3 2026 Y/Y YTD 2025 YTD 2026 Y/Y New Equipment Operating profit 59 42 (17) 193 120 (73) Impact of foreign exchange 0 (5) (5) 0 (6) (6) Operating profit at constant currency 59 37 (22) 193
Slide 23: SG&A reconciliation
Appendix SG&A reconciliation ($ millions) Q3 2025 Q3 2026 YTD 2025 YTD 2026 Net sales 3,690 3,914 10,635 11,339 SG&A expense 504 489 1,467 1,519 UpLift restructuring (21) 0 (59) 0 Other restructuring (1) (3) (15) (15) Other 0 (1) 0 (1) Adjusted SG&A expense 482 485 1,393 1,503 Adjusted SG&A % of sal
Slide 24: Diluted EPS and Tax reconciliations
Appendix Diluted EPS and Tax reconciliations Q3 2025 Q3 2026 YTD 2025 YTD 2026 GAAP diluted earnings per share $0.95 $1.08 $2.55 $3.07 Impact of non-recurring items on diluted earnings per share $0.10 ($0.03) $0.47 ($0.11) Adjusted earnings per share $1.05 $1.05 $3.02 $2.96 Q3 2025 Q3 2026 YTD 2025
Slide 25: Adjusted free cash flow reconciliation
Appendix Adjusted free cash flow reconciliation ($ millions) Q3 2025 Q3 2026 YTD 2025 YTD 2026 Operating cash flow 374 337 779 1,017 Capital expenditures (37) (39) (107) (116) Free cash flow 337 298 672 901 UpLift restructuring payments 9 3 28 17 UpLift transformation payments 16 3 49 14 Separation-
Slide 26: Other reconciliations
Appendix Other reconciliations Remaining performance obligation (RPO) ($ billions) Q3 2025 Q2 2026 Q3 2026 RPO at actual currency (GAAP measure) 19.0 19.7 19.6 FX / Other1 (0.3) 0.0 (0.1) RPO at constant currency 18.7 19.7 19.5 Backlog New Maintenance Q3 2026 Y/Y Growth Modernization Equipment & rep