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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 in the 2022 Fortune Change the World list for its innovative OpenBlue solutions, particularly the OpenBlue Net Zero Buildings as a Service offering. This solution aids customers in achieving their net zero goals by using a performance-based service model. Buildings account for around 40% of global emissions, making sustainable technology integral to future developments. Johnson Controls aims to drive sustainability and operational efficiency across various sectors.
Sensormatic Solutions, part of Johnson Controls (NYSE:JCI), forecasts the busiest shopping days for the 2022 holiday season. Key predictions for Asia Pacific indicate Christmas Day will be the peak shopping day in Hong Kong, Singapore, and South Korea, with Boxing Day in Australia and New Zealand following close behind. The predictions stem from data analytics via the Sensormatic IQ platform, highlighting an expected increase in shopper traffic this year due to relaxed COVID-19 policies. Retailers are encouraged to optimize operations to meet rising consumer expectations.
Sensormatic Solutions, a leading retail solutions provider under Johnson Controls (NYSE:JCI), forecasts the busiest shopping days for the 2022 holiday season. Key dates include Black Friday (Nov. 25), the Friday before Christmas (Dec. 23), and the day after Christmas (Dec. 26). The anticipated increase in shopper traffic is attributed to economic conditions and the timing of Christmas Day. The top ten shopping days in the U.S. represent about 40% of all holiday traffic, with historical data assisting retailers in optimizing their operations and enhancing customer experiences.
SAS will host the MFG Day kickoff event on October 5, 2022, in Cary, N.C., focused on AI, machine learning, and IoT analytics in modern manufacturing.
This event will feature discussions with manufacturing leaders from Deere & Company (DE), Johnson Controls International (JCI), and others, showcasing innovations in analytics-driven manufacturing.
Streaming live, the event will highlight career opportunities and advancements in technology, aiming to inspire the next generation of manufacturing professionals.
Johnson Controls is enhancing residential energy efficiency by offering financing options and rebates to help homeowners access higher-efficiency HVAC systems. The initiatives align with the Inflation Reduction Act, which allocates $370 billion for climate and energy, aiming to cut energy costs by up to 50%. This program includes tax credits, rebates, and state incentives to substantially lower upgrade costs. Johnson Controls also commits to achieving net-zero emissions by 2040 while supporting customers in reducing their carbon footprint.
Johnson Controls has been awarded the 2022 North America Customer Value Leadership Award by Frost & Sullivan for its innovative connected chiller solutions. Leveraging AI and advanced sensors, Johnson Controls enhances chiller performance and energy savings between 5-20%. Its OpenBlue digital platform enables real-time monitoring and predictive analytics, significantly reducing downtime by 50%. This proactive management approach aims to improve asset longevity and operational efficiency, aligning with sustainability goals. The recognition highlights Johnson Controls' commitment to delivering value through advanced technology and customer-centric solutions.
The board of directors of Johnson Controls International plc (NYSE: JCI) has declared a quarterly cash dividend of $0.35 per common share. This dividend will be payable on Oct. 14, 2022, to shareholders who are on record as of the close of business on Sept. 26, 2022. Notably, Johnson Controls has maintained a consistent dividend payment since 1887, showcasing its long-standing commitment to returning value to shareholders.
Johnson Controls' Sensormatic Solutions has launched an innovative computer vision analytics platform aimed at enhancing retail operations. This technology uses existing video infrastructure to provide real-time insights for loss prevention, shopper behavior, and inventory management. Key features include shelf sweep detection and vehicle monitoring, which help retailers mitigate theft and improve customer experiences. With growing interest in AI-driven solutions, 43% of retail leaders already utilize AI for video analytics, while 31% plan to adopt it soon.
On August 25, 2022, Johnson Controls (NYSE: JCI) announced the pricing of €600 million senior notes due 2028. The funds raised will be used for corporate purposes, including repaying near-term debt and potential acquisitions. The offering is co-issued by Tyco Fire & Security Finance, S.C.A., with closing expected on September 7, 2022. Major banks involved include J.P. Morgan and BBVA. This issuance is part of an effective shelf registration statement.
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