People who follow health guidelines are more likely to catch coronavirus when they visit a restaurant than to ride an elevator, Otis Worldwide CEO Judy Marks told CNBC Jim Cramer on Monday.
“As long as people follow other guidance, they can reduce the risks. We still want people to wear masks just like everywhere else,” she said in an appearance on ‘Mad Money’. “Carry it in your elevators, and truly, the analysis and the data and the science show that you have fewer risks than outdoors, much closer to groceries.”
Marks made the remark after reviewing the results of a three-month study conducted by Purdue University researchers. Data from the study, commissioned by Otis, a leading manufacturer of elevators and escalators, was released last week.
The research, led by dr. Qingyan Chen of Purdue, investigated the risks of coronavirus transmission during a two-minute elevator ride. The ventilation standards of elevators, combined with the wearing of a mask, can reduce the risk of exposure by 50%, while air purification can reduce the risk by another 20% or more, according to information published in a news release.
Compared to the amount of time passengers spend on public transportation or workers in the workplace, lift riders have a lower risk profile, Chen said in a statement.
“What most people do not know, Jim, is that the elevator is not a closed coffin by design, and more importantly by code,” Marks said. The company announced it would sponsor the research in August. “There’s an incredible amount of air ventilation in every elevator in the world.”
Shares of Otis decreased by 0.15%, despite the company’s quarterly results achieved by analysts’ analysis. In the fourth quarter, Otis generated $ 3.49 billion in revenue, 4% higher than in the previous quarter, and generated 66 cents earnings per share, compared to 47 cents.
Otis shares closed at $ 64.55 on Monday. To date, the share has fallen more than 4%.
The company is a spin-off of United Technologies Corporation.