Otis Worldwide Corporation (OTIS) Presents at JPMorgan Industrials Conference 2026 Transcript
Summarize this article with:
SA Transcripts159.03K FollowersFollow5ShareSaveCommentsPlay Earnings CallPlay Earnings Call Otis Worldwide Corporation (OTIS) JPMorgan Industrials Conference 2026 March 18, 2026 1:35 PM EDT Company Participants Cristina Mendez - Executive VP & CFO Conference Call Participants C. Stephen Tusa - JPMorgan Chase & Co, Research Division Presentation C. Stephen TusaJPMorgan Chase & Co, Research Division Okay. Great. We're moving right along here with Otis and Cristina Mendez, CFO. Thank you so much for making it here. And I think you're going to give a little bit of intro, and then we'll jump right into the Q&A. Cristina MendezExecutive VP & CFO Absolutely. Thank you, Steve, and thank you for having me. I appreciate the opportunity of talking with you today. Let me read the statement first. Please note that excerpt or otherwise noted, I will speak to results from continuing operations, excluding restructuring and significant nonrecurring items. Reconciliation can be found in our fourth quarter earnings presentation on our investor website. We also remind listeners that today's discussion contains forward-looking statements. Otis' SEC filings provide details on important factors that could cause actual results to differ materially. So thank you, Steve. Let me start by saying that Service is the foundation of our business, as we all know. And we are very pleased to see the Service business growing. It has grown mid-single digits since the spin with expanding margins of 50 basis points per annum. And we see this growth continuing, thanks to the growing opportunity we see in the market. And thanks to this resiliency, despite of the challenges we have faced in new equipment in the last years, New equipment has declined, especially in China. From the top line perspective, it has been a drag of approximately $400 million a year in '24 and in '25. Despite of that, we have delivered ongoing and steady EPS growth. And that's thanks to the resiliency of our Service business.