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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, a division of Johnson Controls (NYSE:JCI), has released predictions for the busiest shopping days of the 2021 holiday season. The top days include Black Friday on November 26 and Super Saturday on December 18. With in-store retail traffic down 18.6% from 2019, the company predicts a 10-15% decrease in U.S. traffic compared to pre-pandemic numbers. Despite the challenges from COVID-19, consumer comfort in shopping has increased. Sensormatic's intelligent solutions are aimed at enhancing retail operations during this critical time.
Johnson Controls (NYSE: JCI) has announced a joint development agreement with biotechnology firm Phylagen on September 23, 2021. This partnership, which includes a strategic investment in Phylagen, aims to advance technology focused on optimizing building microbiomes for healthier indoor environments. The leaders from both companies emphasize that understanding indoor microbial life is crucial for improving public health and safety. This collaboration aligns with Johnson Controls' commitment to creating smart, sustainable buildings.
Johnson Controls (NYSE: JCI) has expanded its building security portfolio by integrating body worn cameras, autonomous robots, and MailSecur technology from RaySecur. The new solutions enhance security management and operational visibility, allowing for real-time monitoring and automated responses to threats. The Body Worn Camera offers live video streaming and integrated evidence management, while the security robots enhance situational awareness and compliance with health measures. These innovative technologies are expected to be available by the end of 2021.
Johnson Controls (NYSE: JCI) announced a partnership with Dubai Silicon Oasis Authority (DSOA) and Rochester Institute of Technology (RIT) Dubai to create the region's first smart, healthy, and sustainable campus. This initiative aims to address building decarbonization, which accounts for about 40% of global emissions. Johnson Controls will implement its OpenBlue digital platform to enhance energy efficiency and reduce operational costs. The collaboration aligns with Dubai's 2040 Urban Master Plan, promoting innovation and sustainability in education.
Atos and Johnson Controls (NYSE: JCI) announced a global partnership aimed at helping clients accelerate their Net Zero goals. This collaboration will provide advisory services and decarbonization capabilities to reduce carbon emissions from buildings, which account for 40% of global emissions. The partnership combines Atos' Digital Decarbonization Exchange and Johnson Controls' Open Blue platform, offering real-time monitoring and reporting of sustainability metrics. Both companies aim to address climate change by aiding customers in their decarbonization strategies, targeting a 45% reduction in greenhouse gas emissions by 2030.
Johnson Controls (JCI) has partnered with Dubai Silicon Oasis Authority and Rochester Institute of Technology Dubai to establish a sustainable campus, leveraging its OpenBlue digital platform. This initiative aims to enhance energy efficiency and reduce carbon emissions, aligning with global sustainability goals. The OpenBlue Enterprise Manager will enable real-time energy monitoring and optimization, potentially improving efficiency by over 50%. This collaboration supports Dubai's 2040 Urban Master Plan and enhances educational environments for roughly 1,000 students and 100 faculty members.
The board of Johnson Controls International plc (NYSE: JCI) has declared a quarterly cash dividend of $0.27 per share. This dividend, payable on October 15, 2021, is for shareholders recorded by the close of business on September 27, 2021. With a commitment to shareholder returns, Johnson Controls has consistently paid dividends since 1887, underscoring its long-standing dedication to providing income for investors. The company continues to lead in creating smart, sustainable buildings.
Johnson Controls (NYSE: JCI) has partnered with Tempered Networks to bolster cybersecurity in its OpenBlue services. This alliance introduces Tempered Airwall as a key security feature, aimed at enhancing secure remote access for building automation clients globally. OpenBlue, which serves various sectors including healthcare, education, and commercial spaces, will integrate the Airwall technology to optimize protection against cyber threats. The collaboration reflects increasing demand for robust cybersecurity solutions amidst digital transformation in smart buildings.
On September 8, 2021, Johnson Controls (NYSE: JCI) hosted a virtual investor meeting, outlining its long-term strategic growth priorities. The company reaffirmed its fiscal Q4 and full-year 2021 guidance, targeting mid-single-digit organic revenue growth, adjusted EPS growth between 13% and 16% for Q4, and 18% to 19% for the full year. New three-year financial targets include a revenue CAGR of 6% to 7% and double-digit EPS growth. CEO George Oliver highlighted the company's focus on decarbonization and smart building solutions, aiming for significant margin expansion and robust financial performance through fiscal 2024.
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