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SINGAPORE - Otis Worldwide Corporation (NYSE:OTIS), a prominent player in the Machinery industry with a market capitalization of $34.76 billion, has been selected by Singapore’s Land Transport Authority to provide vertical mobility solutions for the new Cross Island Line of the Mass Rail Transport system, according to a press release statement. According to InvestingPro analysis, the company appears slightly undervalued at its current trading price of $88.59.
The company will supply 336 heavy-duty escalators and moving walkways, along with 186 Gen3 elevators for the project, which will be Singapore’s longest fully underground MRT line. This contract adds to Otis’s robust revenue stream, which reached $14.17 billion in the last twelve months.
The Cross Island Line will connect major areas including the Jurong Lake District, Punggol Digital District, and Changi regions, expanding public transport access across residential areas, business hubs, and recreational spaces throughout the island.
Otis’ heavy-duty escalators feature passenger-sensing standby mode, dual speed capability, and energy-efficient motors designed for high-traffic environments. The Gen3 elevator platform combines the company’s flat-belt technology with the Otis ONE IoT digital platform, which collects data from smart sensors to enable predictive maintenance. InvestingPro data shows the company maintains a strong financial health score of "GOOD," reflecting its operational excellence and innovative capabilities.
"We are honored to be awarded this project and to contribute to Singapore’s infrastructure growth," said Nicolas Lopez, Managing Director of Otis Southeast Asia.
Otis has previously installed and maintained vertical mobility solutions for several other Singapore MRT lines, including the North-South Line, East-West Line, North-East Line, Downtown Line, Tuas West Extension, and Thomson-East Coast Line Stages 1 to 3.
The company, headquartered in Connecticut, USA, employs approximately 72,000 people worldwide and maintains about 2.4 million customer units globally. With a consistent track record of raising dividends for 5 consecutive years and maintaining profitability, Otis demonstrates strong market positioning. For deeper insights into Otis’s financial performance and growth prospects, investors can access comprehensive analysis through the InvestingPro Research Report, part of the platform’s coverage of over 1,400 US equities.
In other recent news, Otis Worldwide Corporation reported its second-quarter earnings for 2025, showing a mixed performance. The company exceeded earnings per share (EPS) expectations with an EPS of $1.05, surpassing the forecasted $1.03. However, Otis fell short on revenue forecasts, reporting $3.6 billion against an anticipated $3.7 billion. These results reflect a 1.94% surprise in EPS and a 2.7% shortfall in revenue, indicating varied investor reactions. 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. This decision was made by the company’s Board of Directors and communicated through a press release. The dividend announcement comes amidst the company’s ongoing financial evaluations and market performance.
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