Otis jumps after Q1 results, service growth accelerates and 2026 outlook updated
Otis Worldwide shares are rising after reporting Q1 2026 results showing revenue of $3.57 billion and strong service momentum, including 11% service sales growth and 16% repair sales growth. The company reaffirmed/updated full-year 2026 guidance to $4.20–$4.24 adjusted EPS and $15.1–$15.3 billion revenue.
1. What’s moving OTIS today
Otis Worldwide (OTIS) is higher after releasing first-quarter 2026 earnings today (April 22, 2026). Investors are focusing on better-than-expected revenue and signs that the company’s higher-growth Service business is driving results, alongside an updated full-year outlook.
2. Key numbers that traders are reacting to
Otis reported Q1 2026 net sales of about $3.57–$3.6 billion, up 6% year over year, while organic sales rose 1%. GAAP EPS increased to $0.87, and adjusted EPS was $0.89. Service was the standout: service net sales rose 11% (5% organically) and repair net sales jumped 16%, while modernization orders rose 11% and modernization backlog climbed about 30% at constant currency—supporting the view that the installed-base business is offsetting choppier new-equipment conditions.
3. Outlook, cash flow, and capital return in focus
Management revised its 2026 outlook, calling for net sales of $15.1–$15.3 billion, adjusted EPS of $4.20–$4.24, and adjusted free cash flow of $1.60–$1.65 billion. Otis also highlighted operating cash flow of $413 million in the quarter and said it repurchased roughly $400 million of shares, reinforcing confidence in cash generation even as it invests in service capabilities.