BUZZ - Otis shares rise as third-quarter profit and sales beat expectations; maintains full-year profit outlook

October 28 - ** Elevator manufacturer Otis (OTIS.N) saw its share price rise more than 1% in pre-market trading to $75 after releasing its third-quarter earnings report

** Adjusted earnings per share for the third quarter were $1.05, flat year-on-year and above analysts' average estimate of $1.03

** Net sales for the third quarter reached $3.91 billion, with organic sales up 6%, exceeding expectations of $3.87 billion

** Organic sales for the services business grew 7%, and organic sales for the modernization business grew 20%

** The company maintained its fiscal 2026 adjusted earnings per share forecast of $4.01–$4.05, below Wall Street's expectation of $4.07

** Adjusted operating profit declined by $6 million year-on-year, as a drop in new equipment business offset the growth in services

** Sales of new equipment in China fell by more than 20%

** As of the close of the previous trading day, shares had declined 15% so far this year

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