Otis unveils the Gen Nexus intelligent elevator platform advancing AI to improve elevator safety and performance. Otis (NYSE: OTIS), the world's leading elevator and escalator manufacturing, installation, service and modernization company, today unveiled Gen Nexus, its next-generation intelligent elevator platform designed to address the evolving needs of building owners, property managers and their passengers. The Gen Nexus elevator platform brings together proactive safety, AI-enabled services and a scalable digital architecture to help deliver safer, smarter and more efficient elevator operations, through: * Better insight into equipment condition and earlier identification of potential risks * More predictive service * The computing power and flexibility to add new capabilities as needs evolve Otis is showcasing Gen Nexus at the 2026 China International Import Expo (CIIE), alongside other future-looking elevator technologies for residential and heavy-duty applications. Otis Gen Nexus: A digital foundation for the future of elevators "In China and around the world, rapid advances in technology and continued urbanization are creating new performance expectations for buildings and the equipment inside of them," said Otis Chair, CEO and President Judy Marks. "The Gen Nexus platform provides the connected, digital foundation for the next evolution in elevator technology and service, applying AI and advanced computing to advance safety and reliability, improve overall performance, and support future innovation. By continuing to innovate around the needs of our customers and passengers, we're delivering more reliable vertical mobility today, and advancing the standards for our industry into the future." With the Otis Gen Nexus elevator platform: * A Programmable Electronic Safety System (PESSRAL) automatically performs safety circuit self-diagnostics before every elevator run, proactively identifying potential safety risks. * A landing door monitoring system reduces unnecessary shutdowns and lowers the risk of door-related passenger entrapments. * Built-in AI assesses key operating indicators, performance trends, and subsystem health scores. * Digital twin technology acts as an elevator "flight recorder" continuously capturing key operating data to reconstruct fault events. This helps experts diagnose issues faster and prepare more targeted service actions. * A modular, scalable digital platform supports the introduction of new capabilities and future innovations. This allows elevators to continuously evolve to meet new requirements, regulations, and technology trends while protecting long-term customer investments. The Otis Gen Nexus platform is designed to support evolving safety, cybersecurity and data security requirements, including the proposed TSG 41 elevator safety requirements in China. Elevator innovation for aging residential elevators, heavy-duty applications and drones In addition to the Gen Nexus elevator platform, Otis: * Introduced the Otis Gen3(TM) Comfort 2.0 for residential elevator modernization, bringing together design and technology to enhance the passenger experience and support the evolving needs of China's aging residents. * Launched its heavy-duty Otis Robust(TM) elevator range in China, purpose-built for mission critical infrastructure including healthcare facilities, airports, stadiums, data centers and industrial parks. * Announced its exploration of drone applications for parcel delivery and elevator inspection and maintenance. "China's cities are undergoing renewal on a remarkable scale, creating new expectations for how people live and move within them. Nearly one in four people in China is now age 60 or older, reinforcing the need for infrastructure and mobility solutions that support people throughout their lives," said Otis Greater China President Sally Loh. "At the same time, critical sectors such as healthcare and data centers are expanding rapidly. The Otis Gen Nexus platform, Otis Gen3 Comfort and Otis Robust elevators reflect how we're innovating for these changing needs, with technology that anticipates problems, supports more independent mobility and keeps critical facilities running reliably around the clock." An upgraded Otis Gen3 Comfort 2.0 elevator for China's continued urban renewal Introduced at CIIE 2025, the Otis Gen3 Comfort elevator was a first-of-its-kind elevator designed for modernizing aging elevators in China's residential communities, with features that support safer, more accessible and comfortable mobility for older residents. The new Otis Gen3 Comfort 2.0 is substantially upgraded to deliver a more connected, intuitive passenger experience. New features include home-based elevator calling, extended door-opening times and direct-to-floor travel, complemented by larger buttons and a clear interface. Otis Gen3 Comfort 2.0 also incorporates an AI agent that offers personalized interactions - from greetings to weather updates and other useful information. Its AI systems detect falls and dangers such as electric scooters. The Otis Robust heavy-duty elevator range keeps critical infrastructure moving Healthcare facilities, airports, stadiums, data centers and industrial parks operate around the clock, handling heavy loads and fleets of autonomous guided vehicles (AGVs), with no tolerance for downtime. To meet these demands, Otis is combining its purpose-built Otis Robust heavy-duty elevators with loads up to 10,000 kg with tailored services, including AI-powered predictive maintenance, access control and integrated dispatch for AGVs. Drones and Elevators Otis is exploring solutions that connect drones with elevators, enabling parcels to move from the air directly into buildings and to their destination using the elevator hoistway. Beyond deliveries, the concept could also support collaboration with building automation partners on new approaches for inspection and maintenance services, including future drone inspections of elevator hoistways. The 9th annual CIIE runs from November 5-10, 2026, showcasing innovation and fostering partnerships to advance global economic cooperation. Hosted by the Ministry of Commerce of the People's Republic of China and the Shanghai Municipal People's Government, the expo has attracted industry leaders from around the world since its launch in 2018. Otis is exhibiting its state-of-the-art technologies and solutions at booth C2-01 in Hall 4.1 of the Shanghai National Exhibition and Convention Center. About Otis Otis gives people freedom to connect and thrive in a taller, faster, smarter world. The global leader in the manufacture, installation, service and modernization of elevators and escalators, Megaproject move 2.5 billion people a day and maintain approximately 2.5 million customer units worldwide - the industry's largest Service portfolio. You'll find Megaproject in the world's most iconic structures, as well as residential and commercial buildings, transportation hubs and everywhere people are on the move. Headquartered in Connecticut, USA, Otis is 72,000 people strong, including 45,000 field professionals, all committed to manufacturing, installing and maintaining products to meet the diverse needs of its customers and passengers in more than 200 countries and territories. To learn more, visit www.otis.com. Topics: Elevator / Source: Otis Was this helpful to you?

Otis beats Q3 estimates as margin pressure weighs on shares. Stock score locked: want to see it? Benzinga Rankings give you vital metrics on any stock - anytime. Otis Worldwide Corp. (NYSE:OTIS) reported third-quarter 2026 results Wednesday, posting adjusted EPS of $1.05, beating the $1.03 estimate, while sales of $3.914 billion topped the $3.875 billion estimate. Revenue rose 6% to $3.914 billion from $3.690 billion a year earlier, with organic sales also up 6%. GAAP diluted EPS increased 14% to $1.08. Shares fell after the report as adjusted operating margins contracted and the company's full-year adjusted EPS outlook remained below the consensus estimate. Profit growth slows as margins narrow. GAAP operating profit rose to $620 million from $586 million, while adjusted operating profit slipped to $626 million from $632 million. Adjusted operating margin narrowed 110 basis points to 16.0%. Otis said GAAP EPS benefited from the absence of prior-year UpLift transformation costs, separation-related adjustments and other nonrecurring items. Service growth, AI pricing in focus. Service sales rose 8% to $2.616 billion, with organic sales up 7%. Organic maintenance and repair sales increased 4%, while modernization sales jumped 20%. Service operating profit rose to $633 million, with margin improving 100 basis points sequentially to 24.2%, though it remained 130 basis points below the year-ago level. Modernization orders increased 10% at constant currency, and backlog rose 20%. On the earnings call, CEO Judy Marks said, "We continue to execute the service investments we announced at the beginning of the year focused on growing field and pricing capabilities and improving service quality." Marks said, "In pricing, our AI-enabled micro-pricing capabilities support more consistent and disciplined pricing decisions." She also said customers are seeing more value from Otis One and preventive maintenance, though management acknowledged that improved service quality has not yet fully translated into lower churn. CFO Cristina Méndez said churn "has come a little bit worse than initially expected." On fourth-quarter Service margins, she said, "Q4 is expected at the midpoint of the guide, and assuming that productivity and churn levels remain at current level, to be about the same level as Q3." New Equipment remains pressured by china. New Equipment sales rose 3% to $1.298 billion, while segment operating profit fell to $42 million from $59 million. China sales declined more than 20%, partly offsetting growth elsewhere. New Equipment orders rose 1% at constant currency, and backlog increased 4%. Cash flow and 2026 outlook. Operating cash flow was $337 million, free cash flow was $298 million, and adjusted free cash flow was $272 million. Over the first nine months, Otis returned about $1.3 billion to shareholders through roughly $800 million in share repurchases and $500 million in dividends. Otis affirmed 2026 adjusted EPS guidance of $4.01 to $4.05 versus the $4.07 estimate and sales guidance of $15.1 billion to $15.3 billion versus the $15.292 billion estimate. It also maintained adjusted operating profit guidance of about $2.4 billion and adjusted free cash flow of about $1.5 billion. OTIS Price Action: Otis Worldwide shares were down 1.31% at $73.22 at the time of publication on Wednesday, according to Benzinga Pro data.

Otis leans on Service momentum as modernization sales rise 20% and Service margin returns above 24%. 28 October 2026, 9:19 AM By Market Chameleon Produced with AI assistance and reviewed by Market Chameleon staff. Service is doing the heavy lifting, with 8% sales growth and a 24.2% margin that improved 100 bps sequentially. Otis Worldwide Corporation (NYSE:OTIS) reported third quarter 2026 net sales of $3.91 billion, up 6% year over year (organic sales up 6%). The quarter was driven by Service net sales up 8% (organic up 7%), alongside New Equipment net sales up 3% (organic up 3%). The quarter's standout remains Service profitability: Service segment operating profit margin was 24.2%. While that margin was down 130 bps versus the prior year, Otis highlighted that it improved by 100 bps sequentially.