Analyst Consensus ?
ConsensusHold15 ratings
Bullish746.7%
Neutral746.7%
Bearish16.6%
Otis Worldwide Corporation · OTIS · FY2024 Q3 · Calendar Q4 2024
Otis: Service Growth Offsets China New-Equipment Weakness
The supplied analysis supports a mixed earnings-growth case: resilient service and modernization demand, pricing, and productivity initiatives are constructive, but China New Equipment weakness, stimulus uncertainty, and cash-flow pressure temper the outlook.
Reported Before market openNYSEIndustrials
$28.61B market cap
100quality score
Earnings scorecard
Reported versus consensus
Reported EPS
$0.96
Consensus $0.97
EPS surprise
-1.0%
Reported versus consensus
Reported revenue
$3.55B
Consensus $3.59B
Revenue surprise
-1.2%
Reported versus consensus
Market reaction
prior-close to event-session close
Stock move
-3.0%
Event window
SPY move
-0.3%
Same window
Abnormal move
-2.7%
Stock minus SPY
Volume
2.0×
Versus trailing sessions
Subsequent drift
+4.3%
Up to 20 sessions
OTISSPY benchmark
Ask FN2 about OTIS FY2024 Q3
Transcript, numbers and history already loaded
Why did OTIS fall 3.0% after missing EPS estimates in FY2024 Q3?What changed in OTIS's guidance and outlook in FY2024 Q3?Give me the bull and bear case for OTIS after FY2024 Q3 earnings.
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Transcript intelligence
What changed
Relative to the prior quarter, the service-led thesis strengthened: service growth was high-single-digit versus the prior quarter's mid-single-digit growth, while modernization backlog growth moderated from 17% to 12%. The key negative change was a lowered 2024 sales outlook tied to weaker New Equipment demand, particularly in China.
Guidance delta
Lowered: management revised down the 2024 sales outlook while retaining an adjusted EPS target of $3.85.
Key takeaways
- Service delivered high-single-digit growth and 60 basis points of margin expansion, supporting profitability.
- Modernization backlog increased 12%, providing a stated source of future top-line support.
- New Equipment orders weakened, especially in China; management highlighted stimulus uncertainty and pricing pressure.
Management priorities
- Expand the Bengaluru elevator and escalator manufacturing facility.
- Grow the service portfolio toward 2.4 million units by year-end.
- Execute the modernization backlog, pursue 10% medium-term modernization margins, and continue Uplift productivity efforts.
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Try FN2 freeEarnings History
Estimate
Beat
Miss
Match
Analyst 52W Price Targets
$75.15Current
$75Low
$92.94Average
$119High
Latest persisted target per named analyst; persisted current price from FN2's market snapshot as of Oct 25, 2026. Not an FN2 forecast.
Firm-level rating actions
FMP grade actions identify the grading firm, not a named analyst.
| Firm | Rating | Prior rating | Action | Date |
|---|---|---|---|---|
| Evercore ISI Group | Outperform | Outperform | Maintain | Jul 23, 2026 |
| Bernstein | Outperform | Outperform | Maintain | Jul 23, 2026 |
| RBC Capital | Outperform | Outperform | Maintain | Apr 23, 2026 |
| Barclays | Underweight | Underweight | Maintain | Apr 23, 2026 |
| Wolfe Research | Peer Perform | Outperform | Downgrade | Apr 8, 2026 |
| Wells Fargo | Equal Weight | Equal Weight | Maintain | Apr 1, 2026 |
| JP Morgan | Overweight | Overweight | Maintain | Jan 16, 2026 |
| Morgan Stanley | Equal Weight | Equal Weight | Maintain | Jul 8, 2025 |
| Argus Research | Buy | Buy | Maintain | May 13, 2024 |
| UBS | Neutral | Neutral | Maintain | Feb 16, 2024 |
| Vertical Research | Hold | Buy | Downgrade | Jan 2, 2024 |
| HSBC | Hold | Hold | Maintain | Apr 19, 2023 |
| Cowen & Co. | Outperform | Outperform | Maintain | Feb 2, 2023 |
| Credit Suisse | Neutral | Neutral | Maintain | Oct 27, 2022 |
| Berenberg | Buy | Buy | Maintain | Jun 22, 2022 |
Named analyst price targets
Upside is calculated against the persisted current price $75.15. FMP does not supply a rating on these named-analyst rows.
| Firm | Analyst | 52W target | Price when posted | Upside | Date |
|---|---|---|---|---|---|
| Wells Fargo | Analyst unavailable | $77 | $66.68 | +2.5% | Sep 24, 2026 |
| Morgan Stanley | Analyst unavailable | $75 | $72.58 | -0.2% | Aug 10, 2026 |
| RBC Capital | Analyst unavailable | $90 | $73.19 | +19.8% | Jul 28, 2026 |
| Evercore ISI | Alexander Virgo | $95 | $69.92 | +26.4% | Jul 23, 2026 |
| Bernstein | Analyst unavailable | $90 | $70.41 | +19.8% | Jul 23, 2026 |
| Bernstein | Analyst unavailable | $97 | $71.27 | +29.1% | Jun 9, 2026 |
| Morgan Stanley | Analyst unavailable | $88 | $79.52 | +17.1% | Apr 24, 2026 |
| UBS | Analyst unavailable | $105 | $80.87 | +39.7% | Apr 23, 2026 |
| Barclays | Julian Mitchell | $77 | $77.88 | +2.5% | Apr 23, 2026 |
| New Street | Analyst unavailable | $98 | $84.58 | +30.4% | Jan 30, 2026 |
| Wells Fargo | Joseph O'Dea | $92 | $88.14 | +22.4% | Dec 15, 2025 |
| Barclays | Analyst unavailable | $92 | $93.38 | +22.4% | Oct 30, 2025 |
| Wolfe Research | Analyst unavailable | $109 | $90.4 | +45.0% | Oct 8, 2025 |
| Barclays | Julian Mitchell | $91 | $92.12 | +21.1% | Jan 8, 2025 |
| Wells Fargo | Joseph O'Dea | $100 | $92.12 | +33.1% | Jan 7, 2025 |
| Morgan Stanley | Chris Snyder | $97 | $92.43 | +29.1% | Sep 6, 2024 |
| Wells Fargo | Joseph O'Dea | $95 | $91.43 | +26.4% | Jul 25, 2024 |
| Argus Research | John Eade | $108 | $96.21 | +43.7% | May 13, 2024 |
| Melius Research | Rob Wertheimer | $119 | $98.57 | +58.3% | Apr 2, 2024 |
| Barclays | Julian Mitchell | $90 | $98.57 | +19.8% | Apr 2, 2024 |
| Argus Research | John Eade | $102 | $92.41 | +35.7% | Feb 22, 2024 |
| Cowen & Co. | Analyst unavailable | $95 | $84.86 | +26.4% | Feb 2, 2023 |
| Barclays | Analyst unavailable | $81 | $84.56 | +7.8% | Feb 2, 2023 |
| Morgan Stanley | Analyst unavailable | $89 | $84.56 | +18.4% | Feb 2, 2023 |
| Wells Fargo | Analyst unavailable | $82 | $84.56 | +9.1% | Feb 2, 2023 |
| Wells Fargo | Analyst unavailable | $71 | $80.25 | -5.5% | Jan 5, 2023 |
| BNP Paribas | Miguel Borrega | $80 | $71.9 | +6.5% | Jul 4, 2022 |
| RBC Capital | Analyst unavailable | $98 | $73.32 | +30.4% | May 4, 2022 |
| Cowen & Co. | Analyst unavailable | $85 | $72.3 | +13.1% | Apr 26, 2022 |
| Barclays | Analyst unavailable | $80 | $73.75 | +6.5% | Apr 26, 2022 |
| Credit Suisse | Analyst unavailable | $81 | $74.6 | +7.8% | Apr 26, 2022 |
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Start freeCompany context
Snapshot as of publicationOtis Worldwide Corporation is a global leader specializing in the manufacturing, installation, and servicing of elevators and escalators, with significant operations in the United States, China, and numerous other international markets. The company's business is organized into two primary divisions: New Equipment and Service. Its New Equipment segment is responsible for the design, fabrication, sale, and fitting of a diverse array of passenger and freight elevators, escalators, and moving walkways, catering to residential and commercial properties, as well as large-scale infrastructure endeavors. Conversely, the Service segment offers extensive maintenance, repair, and modernization services aimed at upgrading existing elevator and escalator systems. Otis maintains a substantial global service footprint, employing approximately 34,000 service technicians across roughly 1,400 branches and offices. The company, established in 1853, is headquartered in Farmington, Connecticut.
Historical context
All OTIS earningsIndustrials peers this season
Latest reports in the same sector| Company | Quarter | EPS surprise | Market move | Headline |
|---|---|---|---|---|
| FIX Comfort Systems USA, Inc. | FY2026 Q3 · Calendar Q4 2026 | +8.2% | -8.5% | Comfort Systems USA: Strong Growth, Record Backlog, Margin Watchpoints |
| BE Bloom Energy Corporation | FY2026 Q3 · Calendar Q4 2026 | +36.0% | -8.7% | Bloom Energy Raises Outlook as AI Power Demand Drives Expansion |
| SNA Snap-on Incorporated | FY2026 Q3 · Calendar Q4 2026 | -5.9% | -3.4% | Snap-on: C&I strength offsets organic sales pressure in Q3 |
| HON Honeywell International Inc. | FY2026 Q3 · Calendar Q4 2026 | +4.6% | +1.7% | Honeywell Raises 2026 Outlook as Backlog and Forge Support Growth |
| LMT Lockheed Martin Corporation | FY2026 Q3 · Calendar Q4 2026 | +6.0% | +7.0% | Lockheed Martin: backlog and guidance rise, with execution risks |
| NSC Norfolk Southern Corporation | FY2026 Q3 · Calendar Q4 2026 | +4.6% | +3.1% | Norfolk Southern posts strong Q3 as capex outlook rises |
Latest beats and misses
Who reports nextBeat on EPS
- FCNCAFY2026 Q3 · October 23, 2026+19.9% EPS+8.2% move
- FCNCNFY2026 Q3 · October 23, 2026+19.9% EPS+0.2% move
- FCNCOFY2026 Q3 · October 23, 2026+19.9% EPS+1.0% move
- FCNCPFY2026 Q3 · October 23, 2026+19.9% EPS+1.0% move
- RDYFY2027 Q2 · October 23, 2026+24.0% EPS-0.2% move
- SLBFY2026 Q3 · October 23, 2026+3.7% EPS+7.1% move
Missed on EPS
- INFYFY2027 Q2 · October 23, 2026-4.8% EPS-6.6% move
- BBDFY2026 Q3 · October 22, 2026-7.7% EPS+3.0% move
- SNAFY2026 Q3 · October 22, 2026-5.9% EPS-3.4% move
- SPOTFY2026 Q3 · October 22, 2026-11.6% EPS+11.1% move
- VRSNFY2026 Q3 · October 22, 2026-2.0% EPS-0.9% move
- HBANMFY2026 Q3 · October 22, 2026-5.3% EPS+0.5% move
Get the OTIS recap when the next report posts
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Sources
- Earnings call transcript and parsed analysis · 2026-05-11T10:29:34.698584+00:00
- FN2 earnings calendar · 2024-11-10T18:38:36.707185+00:00
- Polygon adjusted daily market bars · 2026-10-25T01:30:41.625582+00:00
- Financial Modeling Prep analyst price-target consensus and quote snapshot · 2026-10-25T01:30:41.622931+00:00
Methodology
Reported and consensus figures come from FN2's earnings event records. Market reaction and volume are calculated from daily adjusted bars around the event; abnormal move subtracts the SPY move over the same window.
Analyst target low, average, and high values are derived at request time from each named analyst's latest persisted FMP target. The current-price marker comes from FN2's persisted market snapshot. They are sell-side estimates, not an FN2 valuation or recommendation.
Transcript intelligence is a structured synthesis of the current and prior earnings-call analyses. Missing values stay missing and are never estimated.
By FN2 Research · Updated · As of 2026-10-25. For educational purposes only; not investment advice.