---
schema_version: "secwatch.filing_event.v1"
accession: "0001781335-23-000026"
form_type: "8-K"
ticker: "OTIS"
cik: "0001781335"
company_name: "Otis Worldwide Corp"
filed_at: "2023-07-26T23:59:59+00:00"
generated_at: "2026-06-13T02:25:15.900886+00:00"
event_type: "earnings"
sentiment: "positive"
materiality_score: 0.85
calibrated_materiality_score: 0.85
confidence: "high"
source: SEC EDGAR
---

# Otis Q2 organic sales up 9.5%, adjusted EPS $0.92; raises FY guidance, boosts buyback to $800M

## Summary
- Q2 net sales $3.72B (+6.7% reported, +9.5% organic); adj EPS $0.92 (+7.0%), GAAP EPS $0.90 (+18.4%).
- New Equipment orders -12% YoY at cc; adj backlog +5% cc; Maintenance portfolio units +4.2%.
- Launched UpLift cost program targeting $150M savings over two years.
- FY outlook raised: adj EPS $3.45-3.50, organic sales +4.5-6%, FCF $1.5-1.55B, buyback increased to $800M.

## SEC filing metadata
- accession: 0001781335-23-000026
- form_type: 8-K
- ticker: OTIS
- cik: 0001781335
- company_name: Otis Worldwide Corp
- filed_at: 2023-07-26T23:59:59+00:00
- event_type: earnings
- sentiment: positive
- materiality_score: 0.85
- calibrated_materiality_score: 0.85
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1781335/000178133523000026/0001781335-23-000026-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1781335/000178133523000026/otis-20230726.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001781335-23-000026
- JSON: https://secwatch.observer/filing/0001781335-23-000026.json
- Plain text: https://secwatch.observer/filing/0001781335-23-000026.txt

## Key facts
- Earnings Releases
  Otis Worldwide Corp reported second quarter 2023 results: revenue $3.7 billion, net income $376, EPS $0.90. Guidance raised.
  - Period: second quarter 2023
  - Revenue: $3.7 billion
  - Net income: $376
  - EPS: $0.90
  - Guidance: raised
  - Result: reported results
  source text: Full-year share repurchase target increased to $800 million. FARMINGTON, Conn., July 26, 2023 – Otis Worldwide Corporation (NYSE:OTIS) reported second quarter 2023 net sales of $3.7 billion with 9.5% organic growth. GAAP diluted earnings per share (EPS) of $0.90 was up 18.4% versus the prior year and adjusted EPS increased 7.0% to $0.92. "Otis delivered a strong
  evidence_url: https://www.sec.gov/Archives/edgar/data/1781335/000178133523000026/0001781335-23-000026-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.