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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.
On March 30, 2022, the Canada Infrastructure Bank (CIB) and Johnson Controls (NYSE: JCI) announced a partnership to invest over CAD 125 million in decarbonization retrofit projects across Canada. The CIB will contribute up to CAD 100 million, covering 80% of total project costs, while Johnson Controls will provide at least 20%. This initiative aims to reduce greenhouse gas emissions by more than 48,000 tonnes annually and create over 900 jobs in the trades sector. The collaboration is part of Canada's goal to achieve net-zero emissions by 2050.
Johnson Controls (NYSE:JCI) has been recognized by Ethisphere as one of the 2022 World's Most Ethical Companies for the 15th time, highlighting its commitment to ethical business practices and compliance. In 2022, a total of 136 companies from 22 countries were honored. CEO George Oliver emphasized that the values of respect, integrity, and sustainability drive employee engagement and performance. The assessment process utilized by Ethisphere involves over 200 questions related to culture, governance, and ethics, providing a framework for best practices across industries.
Johnson Controls (NYSE: JCI) partners with matrix to equip Discount Group's new headquarters in Rishon LeZion, Israel, with its innovative OpenBlue technologies. This campus will feature three eight-story buildings spanning approximately 150,000 square meters, accommodating around 4,500 employees. The OpenBlue platform aims to optimize energy efficiency, enhance occupant comfort, and promote sustainability. Key solutions include OpenBlue Enterprise Manager for facility management and OpenBlue Companion app for a harmonized user experience. The project marks a significant milestone for Discount Group and underlines Johnson Controls' commitment to sustainable building solutions.
Johnson Controls International (NYSE: JCI) has announced a quarterly cash dividend of $0.35 per share, reflecting a $0.01 increase from the previous quarter. This dividend is set to be paid on April 14, 2022, to shareholders on record by March 21, 2022. The company has maintained consecutive dividends since 1887, showcasing its commitment to returning value to shareholders. As a leader in sustainable building technology, Johnson Controls continues to enhance its offerings across various industries worldwide.
Johnson Controls (NYSE:JCI) has announced the integration of PENN Connected into its Sensormatic IQ platform, aimed at enhancing retail operations. This digital solution focuses on remote refrigeration monitoring, helping retailers ensure food safety by tracking storage temperatures and reducing waste. With the rising global concern over food wastage, the platform aims to increase compliance and streamline operations, ultimately offering retailers greater visibility and efficiency. This development positions Sensormatic Solutions to better meet customer needs in an evolving market.
Johnson Controls International plc (NYSE: JCI) will present at the 2022 J.P. Morgan Industrials Conference on March 15, 2022, at 3:50 p.m. EDT. The company's Executive VP and CFO, Olivier Leonetti, will lead the presentation. A live webcast can be accessed on the company’s website for stakeholders.
Johnson Controls is recognized as a global leader in creating smart, healthy, and sustainable buildings, emphasizing innovation and efficiency across various sectors, supported by its extensive digital platform, OpenBlue.
Johnson Controls announced enhancements to its Sensormatic Solutions by integrating PENN Connected into its Sensormatic IQ platform. This expansion aims to improve operational efficiency through remote refrigeration monitoring, which reduces food waste and ensures compliance with storage temperature requirements. The digital food safety solution offers retailers real-time alerts, promoting sustainable practices and cost reductions. With an intuitive interface, it supports retailers in adapting to evolving business models and maintaining high-quality product standards.
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