Johnson Controls International plc - JCI STOCK NEWS

Johnson Controls (NYSE: JCI) has announced its board of directors approved a quarterly dividend of $0.37 per share of common stock. The dividend will be payable on January 17, 2025, to shareholders of record as of December 23, 2024. The company, which specializes in smart, healthy and sustainable buildings solutions, highlighted its remarkable track record of paying consecutive dividends since 1887, demonstrating a long-standing commitment to shareholder returns.

Johnson Controls International (NYSE: JCI) has announced the pricing of €500 million senior notes due 2033. The proceeds will be used for general corporate purposes, including debt repayment, refinancing of commercial paper, acquisitions, working capital, share repurchases, dividends, and capital expenditures.

The notes will be co-issued by Tyco Fire & Security Finance, with the transaction expected to close on December 11, 2024. BofA Securities, Crédit Agricole CIB, and ING are acting as joint lead book-running managers, with several other financial institutions serving as book-running managers and co-managers.

Sensormatic Solutions, part of Johnson Controls (NYSE: JCI), reported retail traffic data for Black Friday week (Nov. 24 – Dec. 1), showing a 2.3% decrease in in-store visits compared to 2023. However, this performance was better than the year-to-date average decline of 3.0%.

Detailed analysis revealed mixed results: Saturday (Nov. 30) saw a 2.0% decrease in traffic, while Sunday (Dec. 1) experienced a 2.4% increase. Black Friday itself (Nov. 29) recorded a 6.3% year-over-year decline.

According to Grant Gustafson, head of retail consulting and analytics, retailers leveraged omnichannel strategies, promotions, and supply chain improvements to enhance the shopping experience. Four of the five busiest shopping days are still anticipated, including Super Saturday (Dec. 21), Monday before Christmas (Dec. 23), Sunday before Christmas (Dec. 22), and the second Saturday before Christmas (Dec. 14).

Johnson Controls' Sensormatic Solutions reported U.S. in-store shopper traffic declined 3.9% from Nov. 24-29 compared to 2023, aligning with year-to-date trends. Black Friday specifically saw an 8.2% drop in foot traffic versus last year, with peak shopping hours between 2-3 PM. The extended promotional period before Black Friday contributed to softer day-of turnout as retailers spread deals throughout the week to enhance shopping convenience. With a shorter holiday season between Thanksgiving and Christmas this year, retailers expect condensed shopping activity in December, with eight of the top ten predicted busiest shopping days still ahead.

Johnson Controls (NYSE: JCI) has been named a leader in IoT Digital Platforms for Building Operations by Verdantix in its Green Quadrant 2024 report. The company's OpenBlue digital ecosystem achieved the highest ratings for infrastructure and automation capabilities, excelling in building operations functions and ecosystem development. The platform enables remote building portfolio management, operational efficiency, and energy savings through AI-enabled insights. Through its 2023 FM:Systems acquisition, OpenBlue expanded its space performance functionality. The platform received strong ratings in momentum categories, including customer adoption and strategy investment.

Johnson Controls (NYSE: JCI) is expanding its Johnson Controls Academy workforce development program to double its training capacity for building systems technicians. The program, partnered with Lincoln Tech, adds a new facility in Denver to complement the existing Columbia, Maryland campus. The initiative aims to train over 300 new technicians annually through a six-week intensive course focused on security and fire installation and service roles.

The expansion addresses a critical industry shortage, with 46% of HR professionals reporting difficulty filling skilled trades positions. The program includes on-site housing, relocation support, and one-year post-graduation retention coaching. Graduates will be placed in service technician roles throughout the U.S.

Sensormatic Solutions, part of Johnson Controls (NYSE: JCI), has announced the elimination of single-use plastic packaging in shipping its InFuzion and magnetic alarming tag lines. This initiative, developed in collaboration with REI Co-op, aims to reduce waste and promote sustainability. The global rollout is expected to eliminate 163,700 plastic bags and prevent up to 2,400 lbs of single-use plastic from reaching landfills annually. According to recent surveys, 83% of U.S. shoppers consider sustainability in their purchasing decisions, with 41% preferring products with sustainable packaging.

Johnson Controls (NYSE:JCI) has announced expanded AI capabilities in its OpenBlue Enterprise Manager suite. The updates include first customer-facing generative AI applications, enhanced autonomous building controls, and improved user interface. The OpenBlue system has demonstrated significant benefits, including up to 30% reduction in energy spend, 20% reduction in maintenance costs, and 10% more optimized space utilization.

New features include integrated generative AI tools for energy savings recommendations, improved user experience with better personalization, expanded data insights for building visitor management, enhanced indoor air quality monitoring, and automatic setpoint adjustments based on fault diagnostics. The system now supports over 130 categories of energy conservation projects and includes autonomous building control capabilities.

Johnson Controls (NYSE: JCI) reported strong Q4 FY24 results with sales increasing 7% to $7.4 billion and organic sales up 10%. Full-year sales grew 2% to $27.4 billion with organic sales up 4%. Q4 GAAP EPS was $0.95, while adjusted EPS reached $1.28. The company's Building Solutions backlog grew 7% organically year-over-year to $13.1 billion.

Notable developments include a definitive agreement to sell the Residential and Light Commercial HVAC business to Bosch Group for approximately $8.1 billion, with JCI's portion being $6.7 billion. The company also announced a restructuring plan expecting to incur $400 million in costs over three years, targeting annual cost savings of $500 million.