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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.
Sensormatic Solutions, part of Johnson Controls (NYSE: JCI), has released its predictions for the top busiest shopping days of the 2024 holiday season globally. In the United States, Black Friday (Nov. 29), Super Saturday (Dec. 21), and the Monday before Christmas (Dec. 23) are expected to be the busiest days. The top 10 busiest shopping days typically account for 30-40% of all holiday retail traffic in the U.S.
Sensormatic Solutions predicts U.S. in-store traffic will be relatively flat, down no more than -3% year-over-year. The company emphasizes the importance of leveraging traffic data for retailers to optimize staffing, stock, and promotions during peak days. The compressed holiday season is expected to impact total shopping visits, as consumers will have fewer opportunities to shop.
Johnson Controls International plc (NYSE: JCI), a global leader in smart, healthy, and sustainable buildings, has announced a regular quarterly dividend of $0.37 per share of common stock. The dividend will be payable on October 18, 2024, to shareholders of record at the close of business on September 25, 2024. This announcement continues Johnson Controls' impressive streak of consecutive dividend payments since 1887, highlighting the company's long-standing commitment to shareholder returns and financial stability.
Sensormatic Solutions, a Johnson Controls (NYSE: JCI) portfolio, has partnered with HappyOrNot to launch the Brand Vitality Meter, a new offering that combines customer satisfaction data with traffic insights to enhance store performance. This collaboration aims to help retailers optimize their locations by merging shopper feedback from HappyOrNot's Smiley devices with Sensormatic's traffic data.
The Brand Vitality Meter focuses on three key areas: customer experience, shopper sentiments, and store performance. It provides retailers with actionable insights to improve customer journeys, align labor allocation with traffic flow, and understand the impact of customer satisfaction on store performance. This holistic approach enables retailers to connect customer satisfaction scores with important metrics such as sales, conversion rates, and average transaction sizes.
Johnson Controls International plc (NYSE: JCI) reported solid Q3 fiscal 2024 results, with sales increasing 1% to $7.2 billion and organic growth of 3%. The company achieved GAAP EPS of $1.45 and adjusted EPS of $1.14. Notably, orders grew 5% organically year-over-year, and the Building Solutions backlog increased 10% organically to $12.9 billion.
Key highlights include:
- Building Solutions North America: 9% sales growth, 8% organic growth
- Building Solutions EMEA/LA: 3% sales growth, 8% organic growth
- Building Solutions Asia Pacific: 22% sales decline, 19% organic decline
- Global Products: Flat sales, 3% organic growth
The company has tightened its full-year fiscal 2024 guidance, reflecting confidence in continued growth and value creation.
Johnson Controls (NYSE: JCI) has announced the initiation of its CEO succession plan, with George R. Oliver planning to retire as CEO while remaining chair of the Board. This decision follows significant progress in the company's portfolio transformation. The Board has begun a comprehensive search for the next CEO, evaluating both internal and external candidates.
In addition, as part of ongoing Board refreshment efforts and following constructive dialogue with Elliott Investment Management, Patrick Decker has been appointed as a new, independent director. Decker, former president and CEO of Xylem Inc., brings valuable experience in transforming industrial companies into advanced technology and solutions enterprises.
These changes reflect Johnson Controls' commitment to optimizing its position as a pure-play provider of comprehensive solutions for commercial buildings, aiming to drive greater value for customers and shareholders.
Johnson Controls International plc (NYSE: JCI), a global leader in smart, healthy, and sustainable buildings, has announced its Third Quarter Fiscal 2024 Earnings Conference Call. The webcast is scheduled for Wednesday, July 31, 2024, at 8:30 a.m. ET. Investors can access the conference call via webcast or telephone. A slide presentation will be available for download on the morning of the call. For those unable to attend live, a replay will be accessible via webcast and telephone until August 7, 2024. This earnings call will provide insights into Johnson Controls' financial performance and potentially discuss future outlook and strategies.
Johnson Controls (NYSE: JCI) has announced a definitive agreement to sell its Residential and Light Commercial (R&LC) HVAC business to the Bosch Group for $8.1 billion. JCI's portion of the consideration is approximately $6.7 billion. This divestiture advances Johnson Controls' transformation into a pure-play provider of comprehensive solutions for commercial buildings.
The transaction includes the North America Ducted business and global Residential joint venture with Hitachi. In fiscal 2023, the R&LC HVAC business generated approximately $4.5 billion in consolidated revenue. The deal is expected to close in about 12 months, subject to regulatory approvals.
JCI expects to report Q3 2024 adjusted earnings per share slightly ahead of its previous guidance. The company plans to use the proceeds to pay down debt and potentially return capital to shareholders.
Johnson Controls (NYSE: JCI) is enhancing efficiency and sustainability at eight Paris Olympic venues for the 2024 Games. The company is integrating advanced building automation systems, HVAC, and fire suppression technologies to improve safety, operational efficiency, and reduce the event's carbon footprint by 50% compared to previous Games.
Key implementations include:
- Two York 3.3 MW industrial chillers at the La Chapelle cooling plant in the Adidas Arena complex
- Metasys building automation system at a renowned tennis stadium, controlling HVAC, lighting, and energy management
These solutions aim to provide sustainable cooling, optimize venue conditions, and minimize environmental impact. Johnson Controls' expertise in smart stadiums has made it a partner of choice for venues worldwide, including Intaleq in Doha, Fiserv Forum in Milwaukee, and Allegiant Stadium in Las Vegas.
Sensormatic Solutions, a retail solutions portfolio of Johnson Controls (NYSE: JCI), has released its 2024 U.S. Back-to-School Consumer Sentiment Survey. The survey reveals that 74% of consumers plan to do their back-to-school shopping in-store, continuing the trend from previous years.
While in-store shopping remains the top choice, digital options are also evolving, with 43% planning to use 'buy online, pick up in-store' (BOPIS), up from 34% in 2023, and 25% opting for curbside pickup, up from 19%.
Security, price, and sustainability are key factors influencing consumer decisions. Notably, 75% of consumers consider price a important factor, with 34% planning to spend less than in previous years. Meanwhile, 83% of respondents consider sustainability important, a rise from 77% in 2023.
Retailers are encouraged to adapt to consumer needs, leveraging data-driven technologies to enhance the shopping experience and meet high-volume demands.
Truelink Capital announced a definitive agreement to acquire Air Distribution Technologies from Johnson Controls on June 18, 2024. The financial terms were not disclosed, and the transaction is expected to close in the second half of 2024, subject to customary conditions.
Air Distribution Technologies, a market leader in air management and filtration solutions, operates across more than 25 global locations with over 4,500 employees. The company's portfolio includes brands like Koch Filter, Titus, and Ruskin, serving a diversified customer base. Post-transaction, Doug Schuster will continue as CEO.
Truelink aims to expand the business through commercial and operational investments, and this acquisition marks its fifth since its launch in 2022.
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