Strong Service Sales and Maintenance Fuel Otis 3Q Earnings

On October 29, Otis reported net sales of US$3.7 billion for the third quarter (3Q) 2025, with organic sales up 2% over the previous year. Organic service sales enjoyed 6% growth with strong service operating profit market expansion, increasing midpoint 2025 earnings per share (EPS) outlook for shareholders. The Farmington, Connecticut-based company’s “industry leading maintenance portfolio” grew at 4%, said Otis President and CEO Judy Marks. Modernization orders grew 27%, organic modernization orders grew 14% and Otis’ repair business performed well, she said. “These strong results illustrate the strength of our service-driven strategy,” Marks said. “This, coupled with a strong order book for modernization and recovery in new equipment, gives us confidence to increase our EPS outlook.” Strength in service sales over all lines of business were partially offset by a decrease new equipment sales in China and the Americas.