Otis Worldwide Corporation: Expansion into the Modernization Market in China, Taiwan Footprint with Jardine Schindler Acquisition 

Otis reported mixed financial results in the third quarter of 2024, demonstrating resilience in its service-oriented operations while managing global challenges, particularly in China. The company’s performance highlighted both strengths and weaknesses, as revealed in its latest earnings call. Otis experienced robust growth in its Service segment, with organic sales up 7.7% year-over-year. This division provided financial stability, as maintenance and repair revenues increased by over 6% for the quarter. The company also effectively managed operating expenses, benefiting from strategic initiatives focused on productivity and efficiency, especially in the high-margin Service segment.