{"schema_version":"secwatch.filing_event.v1","accession":"0001781335-26-000072","form_type":"8-K","ticker":"OTIS","cik":"0001781335","company_name":"Otis Worldwide Corp","filed_at":"2026-04-22T23:59:59+00:00","discovered_at":"2026-05-14T18:02:32.892505+00:00","generated_at":"2026-05-15T04:54:53.963081+00:00","sec_items":["2.02","9.01"],"event_type":"earnings","sentiment":"neutral","materiality_score":0.75,"calibrated_materiality_score":0.75,"confidence":"high","headline":"Otis Q1 net sales +6% to $3.57B; adj EPS -3% to $0.89; modern orders +11% CC","bullets":["GAAP EPS $0.87 (+43%); adjusted EPS $0.89 (-3%). Net sales $3.57B (+6%, organic +1%).","Service net sales +11% (organic +5%); repair +16% (organic ~10%). Modernization orders +11% constant currency.","New Equipment sales -1% (-5% organic); China declined >20%. Segment margin 3.3% (-240 bps).","Operating cash flow $413M; adjusted free cash flow $272M. Share repurchases ~$400M in Q1.","Full year guidance revised: net sales $15.1-15.3B, adj EPS $4.20-4.24, adj FCF $1.60-1.65B."],"urls":{"canonical":"https://secwatch.observer/filing/0001781335-26-000072","json":"https://secwatch.observer/filing/0001781335-26-000072.json","markdown":"https://secwatch.observer/filing/0001781335-26-000072.md","text":"https://secwatch.observer/filing/0001781335-26-000072.txt","edgar_index":"https://www.sec.gov/Archives/edgar/data/1781335/000178133526000072/0001781335-26-000072-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/1781335/000178133526000072/otis-20260422.htm"},"model":{"generated_by":"deepseek-v4-flash:cloud@v2","generated_at":"2026-05-15T04:54:53.963081+00:00"},"review":{"review_status":"machine_generated","human_reviewed":false,"corrected":false,"correction_note":null,"correction_timestamp":null,"superseded_by":null,"related_filings":[]},"source_grounded_claims":[{"claim_id":"ec190189c9d1dcbd3488cc29076e483936ca9ada","claim":"Otis Worldwide Corp reported first quarter 2026 results: revenue $3.6 billion, net income $340, EPS $0.87.","evidence_excerpt":"OTIS REPORTS FIRST QUARTER 2026 RESULTS Otis delivers net sales growth of 6%, driven by Service with growth in all lines of business, led by repair • Net sales up 6% and organic sales up 1%, driven by Service net sales up 11% with organic sales up 5% • Repair net sales up 16% with organic sales up approximately 10% • Modernization orders up 11% at constant currency, backlog up 32%, 30% at constant currency • New Equipment orders up 1% at constant currency, backlog up 6%, 3% at constant currency • Operating cash flow of $413 million; adjusted free cash flow of $272 million • Share repurchases of approximately $400 million FARMINGTON, Conn., April 22, 2026 – Otis Worldwide Corporation (NYSE:OTIS) reported first quarter 2026 net sales of $3.6 billion with organic sales up 1% versus the prior year. GAAP earnings per share (EPS) increased 43% to $0.87 and adjusted EPS decreased 3% to $0.89. \"Otis delivered a solid quarter, with net sales up 6%. All Service lines of business grew, led by rep","evidence_source":"SEC 8-K Item 2.02","evidence_url":"https://www.sec.gov/Archives/edgar/data/1781335/000178133526000072/0001781335-26-000072-index.htm","confidence":0.9,"family_label":"Earnings Releases","details":[{"label":"Period","value":"first quarter 2026"},{"label":"Revenue","value":"$3.6 billion"},{"label":"Net income","value":"$340"},{"label":"EPS","value":"$0.87"},{"label":"Result","value":"reported results"}],"fact_type":"earnings_release"}],"license":"Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer"}