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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 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.
Johnson Controls (NYSE: JCI) has appointed Rodney Clark as Vice President and Chief Commercial Officer, effective June 1, 2022. Clark will lead global sales excellence efforts, succeeding Brian Young and partially taking over duties from retiring Chief Customer and Digital Officer Michael Ellis. Previously at Microsoft, Clark brings extensive experience in digital transformation and IoT sales. CEO George Oliver highlighted Clark's role in enhancing customer collaboration and driving growth through innovative solutions like OpenBlue, aimed at sustainability in building management.
Johnson Controls, a founding member of the First Movers Coalition, supports its expansion to over 50 corporate members, representing roughly $8.5 trillion in market cap. This global initiative aims to accelerate clean technology advancements to achieve net-zero emissions by 2050. Johnson Controls has committed to purchasing 10% near-net-zero carbon steel by 2030 and aims to achieve net zero Scope 1 and 2 emissions by 2040. The coalition, launched at COP26, targets heavy carbon-emitting sectors, emphasizing collaboration between businesses and governments for a sustainable future.
Johnson Controls has been named one of the 100 Best Corporate Citizens for 2022, marking its 17th consecutive year on the list. The company moved up from #33 to #21 overall and ranks second in the Capital Goods sector. This recognition highlights Johnson Controls' commitment to environmental, social, and governance (ESG) practices. Notably, the company has reduced its carbon and energy intensity by over 70% since 2002 and has developed innovative solutions like OpenBlue to promote sustainable building practices.
Johnson Controls International (NYSE: JCI) will present at the 15th Annual Wolfe Research Global Transportation & Industrials Conference on May 26, 2022, at 9:45 a.m. EDT. CFO Olivier Leonetti will lead the presentation, which will be available via live webcast on the company's website. Johnson Controls, a leader in smart, healthy, and sustainable buildings, aims to enhance building performance globally, leveraging its digital offering, OpenBlue, and a workforce of 100,000 experts across 150 countries.
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