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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 teamed up with UL and SafeTraces to improve indoor air quality in K-12 schools. The initiative focuses on leveraging science-based assessments to enhance ventilation and filtration systems, addressing safety during the pandemic. This collaboration provides school administrators with tailored services from the OpenBlue Healthy Buildings portfolio, which integrates data-driven solutions. Notably, the veriDART technology from SafeTraces will help identify infection hotspots. The goal is to create healthier, safer school environments for students and staff.
EnPro Industries, Inc. (NYSE: NPO) has appointed Judith A. Reinsdorf to its Board of Directors. Reinsdorf previously served as Executive Vice President and General Counsel at Johnson Controls (NYSE: JCI) until her retirement in 2017. She has extensive governance experience, having chaired the Governance Committee at Alexion Pharmaceuticals and Dun & Bradstreet. David Hauser, Chairman of EnPro, expressed confidence that her leadership and strategic expertise will enhance the company's optimization and growth strategy.
Johnson Controls has enhanced its Sensormatic Solutions offering to address rising retail shrinkage due to shoplifting and internal theft. The integration of RFID technology with Sensormatic IQ aims to provide real-time insights into loss events, enabling retailers to take more effective measures against shrinkage. With 965,000 retail jobs open, the sector faces challenges that exacerbate theft risks. This new platform promises improved customer experiences and operational effectiveness by delivering actionable data and a unified view of retail inventory.
On August 31, 2021, Johnson Controls International plc (NYSE: JCI) announced that CFO Olivier Leonetti will present at the Morgan Stanley Virtual 9th Annual Laguna Conference. The presentation is scheduled for September 13, 2021, at 9:45 a.m. EDT, with a live webcast accessible on the company's website. Johnson Controls is a global leader in smart building technologies, committed to sustainable and healthy environments. With over 135 years of innovation, the company operates in various sectors including healthcare and manufacturing.
Johnson Controls International plc (NYSE: JCI) CFO, Olivier Leonetti, will present at the 2021 RBC Capital Markets Global Industrials Virtual Conference on September 10, 2021, at 11:20 a.m. EDT. A live webcast of the presentation will be accessible on their website. Johnson Controls, a leader in smart and sustainable buildings, aims to enhance the environments for work and life with innovative digital solutions like OpenBlue. The company operates across 150 countries, employing 100,000 experts dedicated to advancing building technology.
On August 17, 2021, Johnson Controls (NYSE: JCI) announced the appointment of François Mandeville as Corporate Development Officer. Mandeville will oversee mergers and acquisitions to support the company's growth strategy, reporting directly to CFO Olivier Leonetti. His prior experience includes a significant role at Danaher Corporation, where he led business development, growing revenues from $2.2 billion to over $15 billion in a decade. This leadership change aims to enhance Johnson Controls' capabilities in digital technology and high-growth markets.
Johnson Controls International (NYSE: JCI) will host a virtual investor meeting on September 8, 2021, from 8:00 am EDT to approximately 11:30 am EDT. The event will feature presentations from the senior leadership team and include a Q&A session. Presentation materials will be available shortly before the event, with a webcast link accessible on the Investor Relations section of their website. A replay will be provided after the event.
Johnson Controls International plc (NYSE: JCI) reported strong fiscal Q3 2021 earnings, with GAAP EPS of $0.80, and adjusted EPS of $0.83, up 24% year-over-year. Sales reached $6.3 billion, a 19% increase, driven by strong performance in their Building Solutions segments. Adjusted net income was $598 million, up 19%, with an EBIT margin of 13.4%. The company raised its full-year guidance, projecting mid-single-digit organic revenue growth and an adjusted EPS between $2.64 and $2.66. The recent acquisition of Silent-Aire is expected to enhance their presence in the data center market.
Johnson Controls International (NYSE: JCI) announced the redemption of its outstanding 3.750% Senior Notes, totaling $171,081,000, due December 1, 2021. The redemption will take place on September 1, 2021, with a price equal to 100% of the principal plus accrued interest. Payments will be made via The Depository Trust Company. This press release serves informational purposes and is not a solicitation to buy or sell any of the Notes.
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