2025 Outlook

Otis is revising our full year outlook:

• Net sales of $14.5 to $14.6 billion, up 1 to 2%
• Organic sales up ~1%
  • Organic New Equipment sales down ~7%
  • Organic Service sales up ~5%
• Adjusted operating profit of $2.4 to $2.5 billion, up $55 to $105 million at actual currency including tariff impacts, up $50 to $90 million at constant currency excluding ($35) to ($25) million of tariff impacts.
• Adjusted EPS of $4.00 to $4.10, up 4 to 7%; adjusted effective tax rate of approximately 24.8%
• Adjusted free cash flow of $1.4 - $1.5 billion

Otis continues its strong execution of the UpLift program with expected run-rate savings of $200 million and increases expected run-rate savings from the China transformation program to $40 million by year-end 2025.