People who follow health guidelines are more likely to contract coronavirus when visiting a restaurant than with an elevator, Otis Worldwide CEO Judy Marks told CNBC’s Jim Cramer Monday.
“As long as people follow different guidelines, they can reduce the risks. We still want people to wear masks, like everywhere else,” she said in an appearance on “Mad Money.” “Wear them in your elevators and, really, the analysis and the data and science show you are less at risk than dining outside, much closer to running errands.”
Marks made the comment after reviewing the results of a three-month study conducted by Purdue University researchers who examined how airflow in elevators affects exposure to the new virus. Data from the study, commissioned by Otis, a leading manufacturer of elevators and escalators, and released last week.
The research, led by Dr. Qingyan Chen of Purdue examined the risks of coronavirus transmission during a two-minute ride. Standards for elevator ventilation combined with wearing a mask can reduce exposure risk by 50%, while air purification can reduce risk by an additional 20% or more, according to information published in a press release.
Compared to the amount of time passengers spend on public transportation or employees who spend in the workplace, elevator travelers have a lower risk profile, Chen said in a statement.
“What most people don’t know, Jim, is that the elevator isn’t a closed box by its design and, more importantly, by code,” said Marks, whose company announced it would sponsor the study in August. “There is an amazing amount of air ventilation in every elevator in the world.”
Shares of Otis fell 0.15%, despite the company publishing quarterly results that surpassed analyst estimates. In the fourth quarter, Otis brought in $ 3.49 billion in revenue, 4% more than the same quarter a year ago, and produced 66 cents of earnings per share, down from 47 cents.
Otis stock closed at $ 64.55 on Monday. Since the beginning of the year, the stock has fallen more than 4%.
The company is a spin-off from United Technologies Corporation.