OTIS · Otis Worldwide Q2 FY2026 earnings call record财报电话会记录

“While orders were down 5% in the quarter, backlog increased 4% at constant currency and the business is showing greater stability, supported by a sales turnaround in the Americas at a robust 10% growth.”

“In the first half of 2026, we bought back approximately $800 million of shares and raised our dividend 5%, returning over $1.1 billion to our shareholders.”

“Adjusted operating profit, excluding a $7 million foreign exchange tailwind, decreased by $32 million in the quarter as higher volume and price were offset by inflation, mix, and productivity impacts.”

“Maintenance organic sales grew 3%, supported by 3% portfolio growth and 3% pricing, partially offset by mix and churn.”

“We expect net sales of $15.1-$15.3 billion with organic sales growth of low to mid-single digits.”

“Our adjusted free cash flow is now expected to be between $1.5 billion-$1.55 billion, in line with the operating profit outlook change.”

“We also don't want to drive additional potential customers who are on the fence because of our former service quality challenges that we're now investing in.”

“Looking at the margins in service, when you compare first half that are around 23.1% to the second half expected around mid-24%, this is a 150 basis point margin expansion in the second half.”

“It really is, if you think about a four-year contract in North America, we still have some residual flow through, regardless of the service excellence we're doing with some customers who are choosing to change based on multiple years.”

“As we roll into 2027, what should we be thinking about in terms of these productivity headwinds, the $50 million, as we look to 2027?”

“Now, moving into the productivity headwinds, we are now anticipating another $50, 5-0, incremental to the previous outlook.”

“It's about the acceleration of modernization and repair volumes, also in the backlog.”