OTIS
Otis Worldwide Corporation87.96
-0.61-0.69%
Dec 16, 4:00:02 PM EST
Earnings Call Transcripts
This Quarter (Q4 '25)
No earnings call transcript available yet
Last Quarter (Q3 '25)
No earnings call transcript available
Key Stats
Market Cap
34.52BP/E (TTM)
25.95Basic EPS (TTM)
3.39Dividend Yield
0.02%Recent Filings
8-K
Otis Q3 sales rise, EPS up 9%
Otis Worldwide reported third quarter 2025 net sales of $3.7 billion, up 4% year-over-year, fueled by 9% Service growth while New Equipment dipped 4% amid China weakness. Adjusted EPS climbed 9% to $1.05, with Service margins expanding 70 basis points to 25.5% on higher volumes and pricing. Modernization orders surged 27%, bolstering backlog 22%. Service drives profits. The company raised its full-year adjusted EPS outlook midpoint to $4.06, yet tariff headwinds loom.
8-K
Otis issues $500M notes
Otis Worldwide issued $500 million in 5.131% unsecured notes due September 4, 2035, on September 4, 2025, netting about $495.2 million after fees. The company plans to repay its ¥21.5 billion 0.370% 2026 Yen Notes—roughly $147 million—and cover commercial paper plus general purposes. Notes carry a make-whole redemption before June 2035, then at par. Holders can demand repurchase at 101% on change of control. This extends maturities while locking in higher rates amid rising yields.
8-K
Board director resigns amicably
Otis Worldwide's board shrinks as Shailesh Jejurikar resigns effective September 9, 2025, with no disagreements cited. The board size drops from 11 to 10 members that day. Kathy Hopinkah Hannan steps in as Compensation Committee Chair, rotating off Audit and Nominations and Governance roles. Smooth transition, no operational ripples disclosed.
8-K
Otis renews $1.5B credit facility
Otis Worldwide Corporation entered a new $1,500 million revolving credit agreement on August 8, 2025, maturing August 8, 2030, replacing its prior facility set to expire March 10, 2028, with no early termination penalties. The unsecured facility, led by JPMorgan Chase Bank as administrative agent, supports general corporate purposes and allows up to $500 million in additional commitments. It includes standard covenants, including a maximum consolidated leverage ratio, while extending liquidity amid stable market conditions.
10-Q
Q2 FY2025 results
Otis Worldwide held steady on revenue at $3.6B for Q2 FY2025 ended June 30, 2025, flat y/y but with service sales up 6% to $2.3B offsetting a 10% drop in new equipment to $1.3B, amid China's slowdown. Operating profit dipped 4% y/y to $547M, pressured by restructuring costs and FX headwinds, yet gross margin edged up to 30.3% on productivity gains. For the half-year, revenue fell 1% y/y to $6.9B while operating profit slid 14% to $958M, with diluted EPS at $1.60 versus $1.89. Cash from operations generated $405M, down from $479M, after $1.3B debt repayment; free cash flow stood at $335M (derived). Acquisitions added $82M, boosting service goodwill by $51M. New tariffs pose a supply chain risk.
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