Solid Service Segment Performance: Otis reported a 4% organic Service sales growth in Q2, with maintenance and repair contributing significantly. The Service operating profit margin reached a record 24.9%, reflecting higher volume and productivity. The backlog for Service is up 8%, indicating strong future potential.

New Equipment Challenges: New Equipment orders declined by 1% overall, primarily due to a more than 20% drop in China. However, excluding China, orders increased by 11%, indicating strong demand in other regions like the Americas and Asia Pacific. EMEA saw moderate growth, suggesting regional disparities in market demand.

Adjusted EPS and Financial Outlook: Adjusted EPS for the first half of 2025 grew 2% year-over-year to $1.97. Otis expects full-year 2025 adjusted EPS to range from $4.00 to $4.10, indicating a 4% to 7% increase from 2024, despite ongoing challenges in New Equipment.