---
schema_version: "secwatch.filing_event.v1"
accession: "0001781335-24-000036"
form_type: "8-K"
ticker: "OTIS"
cik: "0001781335"
company_name: "Otis Worldwide Corp"
filed_at: "2024-07-24T23:59:59+00:00"
generated_at: "2026-05-31T17:03:56.017562+00:00"
event_type: "earnings"
sentiment: "positive"
materiality_score: 0.85
calibrated_materiality_score: 0.85
confidence: "high"
source: SEC EDGAR
---

# Otis Q2 adjusted EPS $1.06 (+15.2% YoY); raises FY2024 adjusted EPS outlook to $3.85-$3.90

## Summary
- GAAP EPS $1.02 (+13.3% YoY); adjusted EPS $1.06 (+15.2% YoY); net sales $3.6B (-3.2%).
- Service organic sales +5.1%; margin expanded 110bps to 24.7%; New Equipment sales -11.4%, backlog -4%.
- Mod orders +14%, backlog +15%; maintenance portfolio units +4.2%.
- Repurchased $300M in Q2; 1H adjusted free cash flow $508M; FY adjusted free cash flow outlook ~$1.5-$1.6B.
- UpLift cost savings target increased to $175M run rate by mid-2025.

## SEC filing metadata
- accession: 0001781335-24-000036
- form_type: 8-K
- ticker: OTIS
- cik: 0001781335
- company_name: Otis Worldwide Corp
- filed_at: 2024-07-24T23:59:59+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/1781335/000178133524000036/0001781335-24-000036-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1781335/000178133524000036/otis-20240724.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001781335-24-000036
- JSON: https://secwatch.observer/filing/0001781335-24-000036.json
- Plain text: https://secwatch.observer/filing/0001781335-24-000036.txt

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