Otis reports 7% sales growth in Q2 2026, driven by strong service demand and modernization orders.

Otis Worldwide posted a 7% increase in net sales for Q2 2026, with organic sales up 6%, led by an 11% rise in Service sales including strong growth in modernization and repair. GAAP operating profit rose by $28 million, while adjusted operating profit declined due to investments in service initiatives. The company sees a robust backlog and expects continued growth, focusing on service quality and digital technology to sustain long-term value. Otis also announced $400 million in share repurchases for the quarter and raised its confidence in its service-led growth model for the remainder of 2026.