Otis Worldwide Corp

Company facts

Industry

Electronic & Other Electrical Equipment (No Computer Equip)

Headquarters

Farmington, Connecticut

Most recent report

10-Q, filed Jul 23, 2026

Incorporated

Delaware

Filings on record

538 filings

On EDGAR

CIK 1781335

Fiscal year ends

December

Filer status

Large accelerated filer

What to read: Jun 2026 10-Q

SECSift found 2 of 11 sections worth reading, with 0 positive, 6 notable, and 2 negative flags.

• Financial Statements (Item 1)

  Core financials with key metrics: revenue up 7%, service growth 11%, heavy buybacks, new debt, acquisition.
  Notable

  • Recorded $114M noncontrolling interest adjustment in Q1 2026 to correct prior immaterial error from step acquisitions.
  • Acquired majority of a French elevator service company for $170M in April 2026, adding ~$142M goodwill and $64M intangibles.
  • Issued $700M 4.488% notes due 2029 in May 2026; proceeds to repay € notes due Dec 2026 and for general purposes.
  • German tax litigation: expects total refunds of ~€313M (~$356M) as of June 30, 2026; $55M indemnity payable to RTX disputed.

• Management's Discussion (Item 2)

  Detailed segment results, liquidity metrics, and China decline warrant full review.
  Notable

  • Reorganization of China operations: $30M restructuring, substantially completed by Dec 31, 2025.
  • Share repurchases totaled $807M in H1 2026, leaving $500M remaining under $2B authorization.
  Negative

  • New Equipment operating profit fell 41% in Q2 2026 to $40M, margin 3.1% vs 5.3% prior.
  • China new equipment sales: high teens decline in Q2, greater than 20% decline in H1 2026.

What changed: Jun 2026 vs. Mar 2026

About 7% of OTIS's Jun 2026 10-Q is new information. 23 paragraphs were added, 178 changed, and 11 removed. Below are the most important lines SECSift identified.

• Item 1 74
• Item 2 59
• Item 6 3
• Item 4 2
• Item 3 1