Core Insights - Otis Worldwide Corporation reported first quarter 2025 net sales of $3.3 billion, a decrease of 3% year-over-year, primarily due to a decline in New Equipment sales in China [2][4][20] - The company experienced mid-single digit organic sales growth in its Service segment, contributing to a 40 basis points expansion in operating profit margin [3][5] - GAAP earnings per share (EPS) decreased by 29% to $0.61, while adjusted EPS increased by 5% to $0.92, reflecting solid operational performance [6][22] Financial Performance - Net sales for the first quarter of 2025 were $3.3 billion, down from $3.4 billion in the same quarter of 2024 [4][20] - GAAP operating profit was $411 million, a decrease of $133 million from the previous year, while adjusted operating profit was $560 million, a slight decrease of $1 million [5][20] - The operating profit margin contracted to 12.3% from 15.8% year-over-year, while the adjusted operating profit margin improved to 16.7% from 16.3% [5][20] Segment Performance - The Service segment reported net sales of $2.2 billion, up 1% year-over-year, with organic sales growth of 4% [7][9] - The New Equipment segment saw net sales decline by 9% to $1.2 billion, with significant declines in China and the Americas [10][11] - Orders in the Service segment increased by 12%, contributing to a mid-teens growth in backlog [3][8] Cash Flow and Shareholder Returns - Cash flow from operations was $190 million, an increase from $171 million in the prior year, while adjusted free cash flow rose to $186 million from $155 million [13][30] - The company announced a dividend increase for the fifth consecutive year, reflecting confidence in its strategy and commitment to shareholder value [3][8] 2025 Outlook - Otis revised its full-year outlook, projecting net sales between $14.6 billion and $14.8 billion, with organic sales growth expected between 2% and 4% [16]

About Otis Otis is the world's leading elevator and escalator manufacturing, installation and service company. We move 2.4 billion people a day and maintain approximately 2.4 million customer units worldwide, the industry's largest Service portfolio. Headquartered in Connecticut, USA, Otis is 72,000 people strong, including 44,000 field professionals, all committed to manufacturing, installing and maintaining products to meet the diverse needs of our customers and passengers in more than 200 countries and t ...

Core Viewpoint - Otis Worldwide Corporation will host a conference call to discuss its first quarter results and outlook for 2025 on April 23, 2025 [1] Company Overview - Otis is the world's leading elevator and escalator manufacturing, installation, and service company, moving 2.4 billion people daily and maintaining approximately 2.4 million customer units globally [3] - The company is headquartered in Connecticut, USA, and employs 72,000 people, including 44,000 field professionals [3] - Otis operates in over 200 countries and territories, providing a diverse range of products and services to meet customer needs [3]