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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 International plc (NYSE: JCI), a leader in smart and sustainable buildings, announced its participation in the Cowen 43rd Annual Aerospace/Defense & Industrials Conference. Chairman and CEO George Oliver will join a virtual fireside chat on February 9, 2022, at 11:00 a.m. EST. The presentation will be available via live webcast on the company's website. Johnson Controls focuses on enhancing building performance and offers solutions across various industries, supported by over 100,000 experts worldwide.
Fabrinet (NYSE: FN) has appointed Darlene Knight to its Board of Directors and as a member of the Audit Committee. Knight brings extensive experience in multinational manufacturing, notably in the automotive sector with Adient and Johnson Controls. Her leadership is expected to enhance Fabrinet's strategic direction. Knight aims to contribute to the company’s advancements, leveraging her background from roles at General Motors and other leading firms in the manufacturing industry.
On January 18, 2022, Johnson Controls (NYSE: JCI) launched OpenBlue Indoor Air Quality as a Service, the first dedicated "as-a-service" solution for indoor air quality (IAQ). This innovative offering aims to enhance energy efficiency while providing comprehensive IAQ management through a scalable financing model. Key components include IAQ assessments, solution applications, remote monitoring, annual reassessments, and flexible financing options. Set to launch globally in February, this initiative aligns with growing market demands for better health and safety standards in buildings.
On January 12, 2022, Johnson Controls (NYSE: JCI) announced the acquisition of FogHorn, a leading developer of Edge AI software for industrial and commercial IoT solutions. This acquisition aims to integrate FogHorn's edge AI technology into Johnson Controls' OpenBlue smart buildings platform, enhancing real-time data processing capabilities. The financial terms were not disclosed, but the deal is expected to accelerate Johnson Controls' vision of creating smart, autonomous buildings. Key personnel from FogHorn will join Johnson Controls to support this integration.
Johnson Controls International plc (NYSE: JCI) will host its First Quarter Fiscal 2022 Earnings Conference Call on February 2, 2022, at 8:30 a.m. EST. Investors can access the call via live webcast or telephone. A replay will be available post-event until February 9, 2022. Johnson Controls aims to enhance building performance sustainably through innovative solutions like OpenBlue, supported by a team of 100,000 experts globally. The company emphasizes its commitment to transforming environments in diverse sectors including healthcare and education.
Johnson Controls (NYSE: JCI) has partnered with the Asthma and Allergy Foundation of America (AAFA) to enhance health outcomes for individuals managing asthma and allergies. This collaboration aims to raise awareness about the importance of indoor air quality. With 25 million Americans affected by asthma, the initiative focuses on advocacy, public policy, and patient education, particularly in schools where air quality is critical. The partnership is set to provide support and practical solutions to the asthma and allergy community, with further details to be announced before National Asthma and Allergy Awareness Month in May 2022.
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