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Johnson Controls International plc (NYSE: JCI) is a global leader in diversified technology and multi-industrial sectors, serving a wide range of customers in more than 150 countries. With a dedicated workforce of 120,000 employees, the company creates intelligent buildings, efficient energy solutions, integrated infrastructure, and next-generation transportation systems. These elements work together seamlessly to deliver the promise of smart cities and communities.
Founded in 1885 with the invention of the first electric room thermostat, Johnson Controls has a long-standing commitment to sustainability. The company's core business includes the manufacturing, installation, and servicing of HVAC systems, building management systems and controls, industrial refrigeration units, and fire and security solutions. Commercial HVAC accounts for over 45% of sales, fire and security represent roughly 40%, and residential HVAC, industrial refrigeration, and other solutions make up the remaining 15% of revenue. In fiscal 2023, Johnson Controls reported nearly $27 billion in revenue.
Johnson Controls' recent achievements highlight its ongoing commitment to innovation and customer satisfaction. The company reported fiscal first-quarter 2024 GAAP earnings per share ("EPS") of $0.55 and adjusted EPS of $0.51, with sales of $6.1 billion. Despite a slight decline in organic sales, the company generated a GAAP net income of $374 million. The appointment of Marc Vandiepenbeeck as CFO and the company's robust backlog indicate strong future performance and strategic focus.
The company is also involved in several current projects and partnerships aimed at driving growth and delivering value to stakeholders. For instance, Johnson Controls recently integrated FM:Systems, enhancing its workplace management solutions portfolio. This acquisition aims to provide customers with data-backed clarity to make strategic real estate decisions and deliver high-performance workplaces.
Financially, Johnson Controls continues to show resilience and adaptability. The company initiated fiscal 2024 second-quarter guidance and maintains a positive outlook for the full year. Johnson Controls also announced a tender offer to purchase debt securities, demonstrating its proactive financial management strategies.
Latest News Highlights:
- RALEIGH, N.C., Jan. 23, 2024 – FM:Systems released results of its 2023 Inside the Workplace survey, revealing six new workplace trends and priorities for 2024 and beyond.
- CORK, Ireland, Jan. 30, 2024 – Johnson Controls reported fiscal first-quarter 2024 results, with GAAP EPS of $0.55 and adjusted EPS of $0.51, and sales of $6.1 billion.
- CORK, Ireland, May 1, 2024 – Johnson Controls reported fiscal second-quarter 2024 results, with GAAP EPS of $(0.41) and adjusted EPS of $0.78, and sales of $6.7 billion.
- CORK, Ireland, May 20, 2024 – Johnson Controls announced tender offers to purchase cash debt securities, increasing the aggregate tender cap to $119,000,000.
Johnson Controls (NYSE: JCI) has been recognized by Corporate Knights as one of the World's 100 Most Sustainable Corporations for the ninth consecutive year. The company ranked #1 in HVAC equipment manufacturing and #17 overall among 27 peers. Johnson Controls aims to achieve net zero Scope 1 and 2 carbon emissions by 2040, with significant commitments including sourcing 100% renewable energy and investing 75% of new R&D in climate-related innovations by 2030. The recognition underscores the company's dedication to delivering smart, healthy, and sustainable buildings.
Johnson Controls has teamed up with Zliide to enhance self-checkout solutions in retail. This partnership merges Zliide's mobile technology with Sensormatic's loss prevention expertise, aimed at creating secure and convenient shopping experiences. Key features include:
- Instant mobile checkouts
- Endless aisles for out-of-stock items
- No-contact checkout for tagged items
- User-friendly experience without app downloads
- Personalized recommendations
- Item insights for better product understanding
The integration of data from Zliide into Sensormatic IQ promises advanced insights for retailers.
Sensormatic Solutions, part of Johnson Controls (NYSE:JCI), showcased its computer vision analytics at the 2023 NRF Big Show. The technology utilizes deep learning algorithms to optimize labor, enhance loss prevention, and improve shopper experiences. Key features include automating tasks to reallocate labor effectively, insights into shopper behavior for better merchandising, and proactive loss prevention through real-time monitoring. The system leverages existing video infrastructure, allowing retailers to maximize the capabilities of their current setups. Sensormatic aims to empower retailers to drive sales, reduce risks, and elevate customer service.
Johnson Controls (NYSE: JCI) has acquired Hybrid Energy AS, a provider of high-temperature energy management solutions, enhancing its industrial heat pump portfolio. This acquisition aims to address the growing demand for high-temperature heat pumps in district heating and industrial markets, particularly in Europe. With patented technology capable of achieving temperatures above 100 degrees Celsius using ultra-low GWP natural refrigerants, this move supports sustainability and decarbonization efforts. Although exact financial terms were not disclosed, the acquisition positions JCI strategically in a rapidly growing market, aligning with EU goals to reduce greenhouse gas emissions.
Sensormatic Solutions, a division of Johnson Controls (NYSE:JCI), will showcase advanced analytics and AI-driven solutions at the 2023 NRF Big Show, held January 14-17. The focus will be on the Sensormatic IQ platform, integrating data to enhance retail operations. Key offerings include Inventory Intelligence using RFID technology, loss prevention analytics, improved shopper experiences, and optimizing store performance. This initiative aims to address evolving shopper preferences and enhance operational efficiency for retailers.
Johnson Controls International plc (NYSE: JCI) has announced its First Quarter Fiscal 2023 Earnings Conference Call scheduled for February 1, 2023, at 8:30 a.m. ET. This conference will provide insights into the company's latest financial performance and strategic developments. Investors can access the call live via webcast or by telephone. A replay will be available post-event. Johnson Controls aims to enhance building performance through innovative solutions, backed by a global team of 100,000 professionals.
On December 17, 2022, shopper traffic to U.S. brick-and-mortar stores rose by 17% compared to the previous Saturday and by 0.2% from Super Saturday 2021, according to Sensormatic Solutions, part of Johnson Controls (NYSE:JCI). This data indicates a robust season as retailers prepare for the busy holiday weekend, aided by their intelligent traffic analytics platform, Sensormatic IQ. Despite the traffic surge, challenges remain, including a looming winter storm that could affect future shopping days.
Johnson Controls International plc (NYSE: JCI) has declared a quarterly cash dividend of $0.35 per common share, scheduled for payment on Jan. 13, 2023, to shareholders recorded by the close of business on Dec. 19, 2022. This dividend maintains the company's long-standing commitment to shareholder returns, as it has consistently paid dividends since 1887.
Johnson Controls International plc (NYSE: JCI) has appointed Jim Lucas as the new Vice President of Investor Relations, effective immediately. Jim brings extensive experience from his previous role as Senior Vice President at Pentair and a 20-year career as a sell-side analyst. His expertise in financial leadership and investor relations strategy is expected to bolster JCI's growth initiatives. Chief Financial Officer Olivier Leonetti expressed confidence in Jim's ability to enhance the company's engagement with the investment community.
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