Form 10-Q · Quarterly report
Otis Worldwide 10-Q, filed Jul 23, 2026
- Filed
- CIK
- 0001781335
- Accession no.
- 0001781335-26-000113
Summary
Otis Worldwide reported second-quarter 2026 net sales of $3,859 million, up 7% year over year, as 9% organic growth in Service was partly offset by a 1% organic decline in New Equipment. Gross margin narrowed to 29.4% from 30.3%, and the company estimated a remaining $55 million payable to RTX tied to German tax litigation while citing about $200 million in run-rate savings from its UpLift restructuring program.
Key points
- Second-quarter 2026 net sales rose 7% year over year to $3,859 million, with six-month net sales up 7% to $7,425 million.
- Service organic volume increased 9% in the quarter, while New Equipment organic volume decreased 1%.
- Gross margin was 29.4% in the quarter, down from 30.3% a year earlier.
- Otis estimated a remaining $55 million payable to RTX from German tax litigation and said UpLift had generated about $200 million in run-rate savings.
Written by an AI model from the filing text. It can be incomplete or wrong; the filing on SEC.gov is the record.
From the filing
Item 2. Management's Discussion BUSINESS OVERVIEW Business Summary We are the world’s leading elevator and escalator manufacturing, installation, service and modernization company. Our Company is organized into two segments, New Equipment and Service. Through our New Equipment segment, we design, manufacture, sell and install a wide range of passenger and freight elevators, as well as escalators and moving walkways for residential and commercial buildings and infrastructure projects. Our New Equipment customers include real-estate and building developers and general contractors who develop and/or design buildings for residential, commercial, retail or mixed-use activity. …
An excerpt of the text as filed with the SEC, cut for length.
Readster writes AI-generated summaries of public filings for research purposes only. Summaries can be incomplete or wrong — check the original filing on SEC.gov before relying on it. Nothing here is investment, legal or medical advice.