---
schema_version: "secwatch.filing_event.v1"
accession: "0001781335-23-000033"
form_type: "8-K"
ticker: "OTIS"
cik: "0001781335"
company_name: "Otis Worldwide Corp"
filed_at: "2023-10-25T23:59:59+00:00"
generated_at: "2026-06-09T11:18:08.181457+00:00"
event_type: "earnings"
sentiment: "positive"
materiality_score: 0.8
calibrated_materiality_score: 0.8
confidence: "high"
source: SEC EDGAR
---

# Otis Q3 2023: adj EPS $0.95 (+18.8%), organic sales +5.2%, raises full-year guidance

## Summary
- Q3 adjusted EPS $0.95 (up 18.8% YoY); GAAP EPS $0.91 (up 18.2%).
- Organic sales up 5.2% to $3.5B; Service organic sales +8.4%, New Equipment organic sales +1.0%.
- Maintenance portfolio units grew 4.2%; New Equipment orders down 10%, Mod orders up 13%.
- Service operating profit margin expanded 90 bps to 24.8% (adj); total adj operating margin +60 bps to 16.9%.
- Full-year guidance raised: adj EPS ~$3.52 (up ~11%), organic sales ~+5.5%, free cash flow ~$1.5B.

## SEC filing metadata
- accession: 0001781335-23-000033
- form_type: 8-K
- ticker: OTIS
- cik: 0001781335
- company_name: Otis Worldwide Corp
- filed_at: 2023-10-25T23:59:59+00:00
- event_type: earnings
- sentiment: positive
- materiality_score: 0.8
- calibrated_materiality_score: 0.8
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1781335/000178133523000033/0001781335-23-000033-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1781335/000178133523000033/otis-20231025.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001781335-23-000033
- JSON: https://secwatch.observer/filing/0001781335-23-000033.json
- Plain text: https://secwatch.observer/filing/0001781335-23-000033.txt

## Key facts
- Earnings Releases
  Otis Worldwide Corp reported third quarter 2023 results: revenue $3.5 billion, net income $376 million, EPS $0.91. Guidance raised.
  - Period: third quarter 2023
  - Revenue: $3.5 billion
  - Net income: $376 million
  - EPS: $0.91
  - Guidance: raised
  - Result: reported results
  source text: adjusted EPS of ~$3.52 and free cash flow of ~$1.5 billion. FARMINGTON, Conn., October 25, 2023 – Otis Worldwide Corporation (NYSE:OTIS) reported third quarter 2023 net sales of $3.5 billion with 5.2% organic growth. GAAP diluted earnings per share (EPS) of $0.91 was up 18.2% versus the prior year and adjusted EPS increased 18.8% to $0.95. "Otis delivered strong
  evidence_url: https://www.sec.gov/Archives/edgar/data/1781335/000178133523000033/0001781335-23-000033-index.htm

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