Otis Q1 2026: Profit rebounds on lower restructuring costs, German tax liability cut to $55M

Filed April 23, 2026 · Period ending March 31, 2026 · Compared to 10-Q Apr 24, 2025 · ~2 min read

Key Changes

• high

  German tax indemnity liability to RTX reduced from $246M to $55M remaining, cutting Q1 expense to $5M vs. $52M prior year. Estimate may still change as dispute resolution continues under Tax Matters Agreement.

  MD&A: German Tax Litigation verify on EDGAR →
• high

  Operating profit rose to $539M (15.1% margin) from $411M (12.3%), driven by absence of prior-year charges: $52M German tax adjustment, $23M UpLift transformation costs, $21M litigation settlement, $10M asset impairment.

  MD&A: Operating Results verify on EDGAR →
• high

  New Equipment sales fell 5% organically to $1,149M with margin compressing to 3.3% from 5.7%, driven by lower volume, unfavorable price/mix, and higher organizational costs. China declined over 20% organically.

  MD&A: New Equipment Segment verify on EDGAR →