Otis makes most of its money after the elevator is installed, by servicing and upgrading it for decades. A coming wave of older elevators needing upgrades could cushion the blow from a slowdown in new building, but customer retention outside China is a key thing to watch.Read more
Otis makes money long after the elevator is installed, and a wave of older buildings needing upgrades plus new service contracts could keep that steady income growing. But a tough market in China and slower demand for new office buildings could still drag on results if the slowdown lasts.Read more
Otis makes money from keeping millions of elevators and escalators running, and a big wave of older equipment needing upgrades could keep work coming for years. But this view says the payoff may be slower and smaller than many expect as projects get delayed, costs swing, and new connected services take time to roll out.Read more
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Otis Worldwide Corporation engages in manufacturing, installation, and servicing of elevators and escalators in the United States, China, and internationally. The company operates in two segments, New Equipment and Service. The New Equipment segment designs, manufactures, sells, and installs a range of passenger and freight elevators, as well as escalators and moving walkways for residential and commercial buildings, and infrastructure projects. This segment serves real-estate and building developers, and general contractors. It sells its products directly to customers, as well as through agents and distributors. The Service segment performs maintenance and repair services, as well as modernization services to upgrade elevators and escalators. Otis Worldwide Corporation was founded in 1853 and is headquartered in Farmington, Connecticut.
