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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 Frost & Sullivan as the Best Practices Customer Value Leader for 2022, highlighting its leadership in operational efficiency and customer service within the chiller systems market. With chillers consuming up to 40% of a building's energy, Johnson Controls' OpenBlue Services can reduce equipment downtime by up to 50% and energy waste by 30%. A hospital using 100 connected chillers achieved $200,000 in savings within three months, showcasing the effectiveness of these digital solutions.
Johnson Controls International plc (NYSE: JCI) has scheduled its Third Quarter Fiscal 2022 Earnings Conference Call on August 4, 2022, at 8:30 a.m. EDT. Investors can participate via a live webcast or telephone. The webcast will be archived for those unable to attend live. Additionally, a replay will be available after the call. Johnson Controls emphasizes its commitment to sustainable and innovative building solutions, leveraging nearly 140 years of experience in the industry.
Johnson Controls (NYSE:JCI) announces the retirement of 38-year veteran Jeff Williams as President of Global Products, effective August 1, 2022. A search for his successor is underway. Williams has led the Global Products division since 2019, which accounts for over one-third of the company's $24 billion annual revenue. His successor will focus on advancing technology in building management, emphasizing artificial intelligence through the OpenBlue platform, enhancing operational performance and sustainability.
On June 30, 2022, Johnson Controls (NYSE: JCI) unveiled the OpenBlue Pioneers award to honor leaders in the development of smart, sustainable buildings. The first winners, including BEEAH Headquarters and the Chase Center, exemplify innovative use of Johnson Controls' OpenBlue technology to enhance environmental sustainability and energy efficiency. The initiative highlights the company's commitment to reducing carbon emissions while promoting health and economic prosperity. Johnson Controls aims to accelerate the digital transformation of buildings, creating healthier spaces worldwide.
Johnson Controls (NYSE: JCI) CEO George Oliver co-signed a letter with global leaders urging G7 nations to enhance greenhouse gas emissions reduction efforts, emphasizing the buildings sector, which accounts for 40% of global emissions. The letter advocates for carbon pricing starting at $30 per tonne, potentially rising to $120 per tonne. The Sustainable Markets Initiative, chaired by the Prince of Wales, supports this initiative. Oliver stressed the need for sustainable energy strategies and private investment incentives to address energy supply challenges while promoting advanced optimization technologies.
Johnson Controls and Accenture are launching two new OpenBlue Innovation Centers aimed at enhancing AI-enabled building control systems. The initiative focuses on developing advanced hardware and software leveraging 5G and IoT technologies, promoting improved connectivity and visualization in building management. This investment supports Johnson Controls' commitment to net-zero buildings, ultimately reducing carbon emissions and enhancing occupant safety. The collaboration will employ AI analytics and digital twins to optimize energy efficiency and operational costs.
Johnson Controls (NYSE: JCI) has acquired Tempered Networks, a provider of zero trust cybersecurity solutions. This strategic move enhances JCI's OpenBlue platform by integrating Tempered's Airwall technology, which secures building data and communications from edge to cloud. The acquisition aims to bolster cybersecurity in critical infrastructure, enabling secure device interactions and continuous data authentication. Terms of the deal were not disclosed, but it aligns with JCI's vision for fully autonomous and resilient buildings, emphasizing advanced security measures against cyber threats.
On June 8, 2022, Johnson Controls International plc (NYSE: JCI) announced a quarterly cash dividend of $0.35 per share, payable on July 15, 2022. Shareholders of record by June 21, 2022 will receive this dividend. This marks a continuation of consecutive dividends since 1887, reflecting the company's commitment to returning value to shareholders. Johnson Controls is a global leader in smart and sustainable buildings, with over 100,000 employees in 150 countries, dedicated to enhancing building performance.
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