Kone: Better Mix, Less China Drag, And TKE Deal Is Great

Kone remains a buy as Q1 2026 results show broad-based growth, margin expansion, and reduced reliance on new equipment and China. Service and modernization now comprise over 65% of KNYJF sales, supporting resilience despite ongoing Chinese new equipment margin pressures. The TKE deal is a potential game changer, expanding KNYJF's US presence, densifying the service network, and boosting the installed base for modernization.