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Otis Worldwide Corp | North America Q2 + 2H Downside on Service Margins-20260722
摩根士丹利· 2026-07-22 20:16
AlphaSignals Earnings Reaction Strengthens our thesis Modest shortfall Meaningful revision lower Impact to our thesis Financial results versus consensus Direction of next 12-month Exhibit 1: While OTIS higher investment is having a positive impact on company topline growth, it is not translating to positive operating profit / EPS growth. As we look into 2027, we continue to see downside risk to Consensus calling for a return to 25%+ Service margins given required investment + outgrowth from the margin- dilu ...