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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 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.
Johnson Controls (NYSE:JCI) has appointed Anu Rathninde as vice president and president of Asia Pacific, succeeding Visal Leng. Rathninde brings extensive leadership experience, having previously overseen a large engineering team at Aptiv and held key roles at Delphi and Johnson Electric. His leadership will focus on furthering growth strategies, particularly in China and the Asia Pacific region, while advancing innovation through the OpenBlue digital platform aimed at delivering sustainable building solutions. Rathninde will report to CEO George Oliver and be based in Shanghai.
Johnson Controls (NYSE:JCI) has launched an innovative Privacy Center to enhance transparency regarding data privacy and security in compliance with global laws. This platform provides Data Privacy Sheets detailing product-specific privacy features and addresses common privacy concerns. The company has achieved three certifications recognizing its commitment to privacy excellence, including the Enterprise Privacy Seal and APEC certifications. The Privacy Center aims to set a new industry standard while reinforcing Johnson Controls' dedication to data protection and stakeholder trust.
Johnson Controls International (NYSE: JCI) reported fiscal Q2 2022 results, revealing a GAAP EPS of $0.02 and adjusted EPS of $0.63, up 21% from the previous year. Sales reached $6.1 billion, a 9% increase, with a record backlog of $10.9 billion, up 12% year-over-year. Despite strong growth in orders, supply chain issues have delayed backlog conversion, prompting a revision of adjusted EPS guidance for the year to between $2.95 and $3.05. The company repurchased over $1 billion in shares to date this fiscal year, reinforcing confidence in future growth.
Johnson Controls International plc (NYSE: JCI) will present at the 2022 Goldman Sachs Industrials and Materials Conference on May 11, 2022, at 9:40 a.m. EDT. Chairman and CEO George Oliver will be featured in the presentation, which can be accessed via a live webcast on the company's website. Known for transforming environments into smart, healthy, and sustainable buildings, Johnson Controls leverages its expertise in various industries through OpenBlue, its digital offering.
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