These 10 Firms Led Lagged Performance on Wednesday

5. Otis Worldwide Corporation (NYSE:OTIS)

Otis Worldwide dropped its share prices by 6.72 percent on Wednesday to end at $92.30 apiece as investors sold off positions following the company’s dismal earnings performance in the first quarter of the year.

In a statement, OTIS said net income fell by 31 percent to $243 million from $353 million in the same period a year earlier, while net sales dipped by 3 percent to $3.35 billion from $3.437 billion year-on-year, primarily due to new equipment in China.

In the same announcement, OTIS also revised its full-year 2025 outlook, with net sales now expected to increase by 3 to 4 percent to a range of $14.6 billion to $14.8 billion year-on-year.

OTIS is one of the leading manufacturers of elevators and escalators, with 2.4 million customer units worldwide.