Otis Worldwide Corporation is offering $700,000,000 aggregate principal amount of 4.488% Notes due 2029. The Notes bear interest at 4.488% per annum, payable May 7 and November 7 beginning November 7, 2026, and mature on May 7, 2029. The offering price is 100.000% with underwriting discounts of 0.400%, yielding proceeds to Otis of $697,200,000 before expenses. Net proceeds are expected to be approximately $695.2 million, intended primarily to repay the €600 million 0.318% Notes due December 15, 2026, and to repay commercial paper and for general corporate purposes. The Notes are unsecured, unsubordinated obligations, not listed on any exchange, and include an optional redemption feature and a Change of Control purchase right (purchase price equal to 101% of principal plus accrued interest) conditioned on defined rating and timing triggers.
Otis Worldwide Corporation is offering a new series of unsecured, fixed-rate notes. The prospectus supplement describes % Notes due 20 with interest payable semi-annually and customary optional redemption and a Change of Control offer at 101% plus accrued interest. Proceeds are intended to repay the 0.318% Notes due December 15, 2026 (€600 million outstanding as of March 31, 2026) and to repay commercial paper and for general corporate purposes. The Notes will be book-entry only, issued under the February 27, 2020 Indenture, rank equally with existing unsecured unsubordinated indebtedness and are not guaranteed by subsidiaries. Investors should review the Risk Factors and the Description of the Notes for covenants, optional redemption mechanics, Change of Control provisions and limitations on holders’ protections.
Otis Worldwide Corp ownership disclosure: Vanguard Capital Management reports beneficial ownership of 29,111,846 shares of Otis Common Stock, representing 7.48% of the class as of 03/31/2026. The filing shows sole dispositive power over 29,111,846 shares and sole voting power for 3,855,841 shares. The statement notes these holdings reflect positions held or managed across Vanguard affiliates and funds. The Schedule 13G was signed on 04/30/2026.
Vanguard Portfolio Management reported beneficial ownership of 19,749,088 shares of Otis Worldwide Corp common stock, equal to 5.08% of the class as of 03/31/2026. The filing shows sole dispositive power over 19,749,088 shares and sole voting power for 47,196 shares. The Schedule 13G states the position reflects holdings across Vanguard affiliates and funds.
Otis Worldwide Corporation reported higher earnings for the quarter ended March 31, 2026. Net sales rose to $3,566 million from $3,350 million, driven by 11% growth in the Service segment, while New Equipment sales declined 1%.
Net income attributable to Otis increased to $340 million from $243 million, with diluted EPS up to $0.87 from $0.61. Operating cash flow strengthened to $413 million from $190 million, supporting $163 million of dividends and $400 million of share repurchases. Service margins remained strong despite cost pressures, and total remaining performance obligations reached about $19.8 billion, with roughly 75% expected as sales over the next 24 months.
Otis Worldwide Corporation reported first quarter 2026 results showing modest growth driven by its Service business. Net sales reached $3.6 billion, up 6% year over year, with organic sales up 1%. Service net sales rose 11% with 5% organic growth, while New Equipment net sales declined 1%.
GAAP operating profit increased to $539 million, lifting operating margin to 15.1%, but adjusted operating profit slipped to $550 million with margin down to 15.4%. GAAP EPS climbed 43% to $0.87, while adjusted EPS fell 3% to $0.89 as higher costs, interest and taxes weighed on results.
Operating cash flow improved sharply to $413 million and adjusted free cash flow to $272 million, supporting approximately $400 million of share repurchases. Modernization orders rose 11% at constant currency, with modernization backlog up 30% at constant currency, and New Equipment backlog increased 3% at constant currency. Otis revised its 2026 outlook to net sales of $15.1–$15.3 billion, adjusted operating profit of about $2.5 billion and adjusted EPS of $4.20–$4.24.
Otis Worldwide Corporation presents its 2026 proxy, combining strong 2025 execution with detailed governance and compensation disclosures. In 2025, sales were $14.4 billion, with Service organic sales up 5% and modernization organic sales up 9%. Modernization orders rose 26% and backlog increased 30% at constant currency, while the maintenance portfolio grew 4% to about 2.5 million units, reinforcing recurring revenue.
GAAP EPS was $3.50, down 14%, and adjusted EPS was $4.05, up 6%. Otis generated $1.6 billion of operating cash flow and adjusted free cash flow, raised its quarterly dividend by 8%, and returned about $1.45 billion via dividends and share repurchases.
The 2026 virtual annual meeting on May 27, 2026 will ask shareholders to elect 10 director nominees, approve an advisory vote on executive compensation, ratify PricewaterhouseCoopers LLP as 2026 auditor, and consider one shareholder proposal that the Board recommends voting against.
The Vanguard Group filed Amendment No. 2 to a Schedule 13G/A reporting its position in Otis Worldwide Corp. The filing states amount beneficially owned: 0 and percent of class: 0%. It explains an internal realignment effective January 12, 2026, that led certain Vanguard subsidiaries to report separately.
Otis Worldwide Corp reported that Nicolas Eduardo Lopez, President of Otis Asia Pacific, received an award of 4,685 Restricted Stock Units (RSUs) on the reported transaction date. The RSUs were granted at a price of $0.00 per unit as part of his equity compensation.
Each RSU converts into one share of Otis common stock and includes the right to receive dividend equivalents credited as additional RSUs. The award vests in three substantially equal annual installments beginning on the first anniversary of the transaction date, so the value to the executive depends on future share price and continued service.