Otis to Elevate Connectivity on Singapore's Cross Island Line Phase 1

Otis Worldwide Corporation’s OTIS expanding global footprint continues to demonstrate its strong growth trajectory. The company is steadily increasing its market share worldwide, backed by its commitment to innovation and strong service capabilities. The recent contract victory in Singapore further supports this upward trend.

Recently, Otis has been chosen by Singapore’s Land Transport Authority (LTA) for the new Cross Island Line of the Mass Rapid Transit (MRT). The company will play a key role in enhancing the line’s seamless and user-friendly transport experience.
Shares of OTIS gained 0.8% after hours yesterday.

Comprehensive Understanding of OTIS’ New Project

Under the contract, OTIS is expected to provide 186 Gen3TM elevators, 336 public and heavy-duty escalators and moving walkways for vital stations on Singapore's longest fully underground MRT line. These elevators combine Gen2 technology's renowned flat-belt architecture with IoT-driven Otis ONE capabilities for predictive maintenance, real-time monitoring and smoother passenger experiences. These features are crucial for guaranteeing safety, efficiency and dependability in high-traffic transportation systems.

The Cross Island Line, once completed, will strengthen Singapore's public transportation system and improve cross-island connections by connecting key metropolitan areas like Jurong Lake District, Punggol Digital District and the Changi area.

Otis’ global expertise and leadership in urban infrastructure are central to this collaboration. Once completed, the Cross Island Line will not only shorten travel times across the city but also support the government’s long-term vision of a more integrated urban transit system that fosters community growth and economic development.

Innovation as OTIS’ Key Growth Catalyst

Otis continues to prioritize innovation in its growth plan, focusing on both digital transformation and modernization opportunities. The company's innovation pipeline focuses on the next-generation elevator platforms, Gen3 and SkyRise, which build on the legacy of the Gen2 system. The Otis ONE IoT platform enables energy-efficient and space-saving solutions, including predictive maintenance, remote diagnostics, and improved rider experiences.

Recent performance highlights underscore how innovation translates into tangible growth. Modernization orders climbed 22% in the second quarter of 2025, with backlog up 16% at constant currency. Demand for connected solutions was also evident in Otis’ wins across key markets, including contracts for over 400 escalators and connected elevators in Chinese metro projects and advanced SkyRise and Gen3 systems at The Kross development in Ho Chi Minh City. Along with that, the company strengthened ties with DAMAC Properties, securing an order to deliver 20 SkyRise elevators for DAMAC Bay 2 at Dubai Harbour.

Shares of OTIS have declined 5.3% year to date (YTD) against the Zacks Building Products - Miscellaneous industry’s 9.2% growth. Despite the ongoing global market uncertainties, the company is expected to continue benefiting from strong trends in infrastructure modernization, innovation and expanding the digital ecosystem for both the existing service portfolio customers and new equipment shipments from factories.

OTIS’ Zacks Rank & Key Picks

Otis currently carries a Zacks Rank #3 (Hold).

Some better-ranked stocks from the Industrial Products sector are TriMas TRS, Century Aluminum CENX, and Hubbell HUBB.

TriMas presently sports a Zacks Rank #1 (Strong Buy). The company delivered a trailing four-quarter negative earnings surprise of 1.50%, on average. TriMas stock has rallied 57.3% year to date. You can see the complete list of today’s Zacks #1 Rank stocks here.

The Zacks Consensus Estimate for TriMas’ 2025 sales and earnings per share (EPS) indicates growth of 9.5% and 21.8%, respectively, from the year-ago period’s levels.

Century Aluminum sports a Zacks Rank of 1 at present. The company delivered a trailing four-quarter negative earnings surprise of 15.4%, on average. Century Aluminum stock has jumped 24.6% year to date.

The Zacks Consensus Estimate for Century Aluminum’s 2025 sales suggests growth of 16.3% and EPS indicates a decrease of 37.4% from the prior-year levels.

Hubbell carries a Zacks Rank of 2 (Buy) at present. The company delivered a trailing four-quarter earnings surprise of 2.3%, on average. Hubbell stock has jumped 6.5% year to date.

The Zacks Consensus Estimate for Hubbell’s 2025 sales and EPS indicates growth of 4% and 7.1%, respectively, from the prior-year levels.

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This article originally published on Zacks Investment Research (zacks.com).

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