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MADRID - Otis Worldwide Corporation (NYSE:OTIS), a $35.8 billion market cap company with annual revenues of $14.2 billion, has launched new flexible elevator modernization solutions aimed at upgrading aging systems in European buildings, according to a press release statement issued Tuesday. InvestingPro data shows the company maintains strong profitability with a 30.2% gross margin.
The company has introduced Arise MOD Prime and Arise MOD Plus packages designed for low- to mid-rise residential and commercial buildings. The solutions are currently available in Spain, the UK, France, and Benelux countries, with plans for expansion to other European markets.
The modernization packages address a significant market need, as more than six million elevators operate in Europe today, with over half of them being at least 25 years old in many European countries. According to InvestingPro analysis, Otis is currently trading above its Fair Value, reflecting strong market confidence in its growth initiatives. The platform offers 8 additional key insights about Otis’s market position and growth prospects.
The new offerings allow building owners to upgrade their elevator systems in phases according to their budget and timeline. The Arise MOD Prime solution brings elevator control systems up to the latest European safety standard (EN-81-20) and includes features that reduce common tripping hazards through improved floor-leveling technology.
The more comprehensive Arise MOD Plus package includes all Prime features plus a new geared machine and cables or an upgrade to Otis Gen2 belt technology for enhanced ride quality.
Both solutions incorporate Otis ONE technology, which monitors elevator performance through smart sensors, and ReGen drive technology, which the company states can reduce energy consumption by up to 50% compared to legacy non-regenerative geared systems.
"With these new modernisation packages, we’re giving Otis customers options so they can control how they want to upgrade their ageing elevator equipment in phases," said Enrique Miñarro Viseras, President of Otis EMEA and Latin America, in the press release.
Otis is the world’s leading elevator and escalator manufacturing, installation and service company, maintaining approximately 2.4 million customer units worldwide. The company offers shareholders a 1.84% dividend yield and has raised its dividend for 5 consecutive years. For deeper insights into Otis’s financial health and growth prospects, InvestingPro subscribers can access comprehensive research reports with detailed analysis of 1,400+ top stocks, including Otis.
In other recent news, Otis Worldwide Corporation reported its second-quarter 2025 earnings, showing mixed results. The company exceeded earnings per share expectations with an EPS of $1.05 against the forecasted $1.03, marking a 1.94% surprise. However, Otis fell short on revenue, reporting $3.6 billion compared to the anticipated $3.7 billion, a 2.7% shortfall. In financial developments, Otis completed an offering of $500 million in 5.131% notes due 2035, with interest payments beginning in March 2026. Additionally, Otis announced a quarterly dividend of $0.42 per share, payable on September 5, 2025, to shareholders of record as of August 15, 2025. On the operational front, Otis will supply elevators and escalators for Singapore’s Cross Island Line, contributing to the region’s mass rail transport system. In corporate governance, Shailesh Jejurikar, a board member and Chair of the Compensation Committee, has announced his resignation effective September 9, 2025. Otis clarified that his resignation did not stem from any disagreement with the company’s operations or policies.
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