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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 June 15, 2021, Google Cloud announced an expanded partnership with Johnson Controls (NYSE:JCI) to migrate its SAP Enterprise Resource Planning (ERP) environment to Google Cloud. This transition aims to modernize critical business systems, ensuring low-latency access and high reliability. Johnson Controls leverages SAP for comprehensive resource planning, finance, and supply chain management. This move enhances the company's commitment to sustainability by utilizing Google’s renewable energy infrastructure, aligning with both companies' goals to operate efficiently and sustainably.
Johnson Controls (NYSE: JCI) is advocating for swift climate action ahead of the G7 Summit in Cornwall, UK. Supporting an open letter from the Alliance of CEO Climate Leaders, the company urges global leaders to commit to net-zero emissions and implement effective policies. With a focus on reducing energy waste from buildings—responsible for 40% of global emissions—Johnson Controls aims to decrease operational emissions by 55% and customers' emissions by 16% by 2030. The company's commitment to sustainability is recognized through various initiatives, including the Business Ambition for 1.5°C campaign.
Johnson Controls International plc (NYSE: JCI) announced a quarterly cash dividend of $0.27 per share, payable on July 16, 2021 to shareholders on record as of June 21, 2021. This marks the company's ongoing commitment to returning value to shareholders, having paid dividends continuously since 1887. With over 135 years of innovation, Johnson Controls is a leader in smart, sustainable buildings and has a global presence across various industries.
Johnson Controls (NYSE: JCI) announced the adoption of R-454B as the primary low Global Warming Potential (GWP) refrigerant for its ducted residential and commercial products in North America. This shift, intended to combat climate change, aims to help customers reduce emissions by 16% by 2030. R-454B has a GWP of 466, significantly lower than R-410A's GWP of 2,088. The transition will affect new products after January 1, 2024, for chillers and January 1, 2025, for unitary products, ensuring continued compliance with environmental regulations.
Johnson Controls (NYSE: JCI) has partnered with DigiCert to enhance cybersecurity in smart building technology. This collaboration integrates DigiCert's ONE PKI platform into Johnson Controls' OpenBlue solutions, improving secure connectivity and mitigating operational risks associated with cybersecurity threats. The partnership aims to boost device authentication, data encryption, and lifecycle management of IoT devices, ensuring trusted environments for users. Additionally, this follows a recent collaboration with Pelion to further innovate connectivity and security in smart building operations.
Johnson Controls International (NYSE: JCI) will be represented by CEO George Oliver at the 14th Annual Wolfe Research Global Transportation & Industrials Conference. The virtual event is scheduled for May 27, 2021, at 10:15 a.m. EDT. A live webcast will be available on the company's website. Johnson Controls is a leader in smart and sustainable buildings, aiming to enhance the environments where people live and work. With over 135 years of innovation and a global workforce of 100,000, it provides a comprehensive portfolio of building technology and services.
Johnson Controls (NYSE: JCI) was recognized in the inaugural FT Climate Leaders in Europe list for its significant reduction in emission intensity from 2014 to 2019. Out of over 4,000 companies, only 300 made the list, highlighting Johnson Controls' commitment to sustainability. The company has cut its emissions intensity by over 70% since 2002 and helped customers save 30.6 million tonnes of CO2. With plans to achieve net zero carbon by 2040 and ambitious targets for 2030, Johnson Controls remains a leader in smart, sustainable building solutions.
On May 13, 2021, Johnson Controls (NYSE: JCI) announced the financing and operation of a 2 MW community solar garden in Pueblo, Colorado, in partnership with GRID Alternatives Colorado and Capital Dynamics. This project, part of six contracted initiatives, will provide renewable energy for 200 households, specifically targeting low-income residents. The community solar effort aims to reduce energy costs and offer job training opportunities, enhancing sustainability and public health in the area.
Johnson Controls International plc (NYSE: JCI) announced the successful acquisition of Silent-Aire, a leader in custom air handlers and modular data centers, on May 12, 2021. This strategic move is expected to enhance Johnson Controls' sustainable data center solutions portfolio and drive innovation. Silent-Aire's anticipated revenue for fiscal year 2021 is around $650 million, with a projected $0.07 to $0.09 increase in adjusted EPS for fiscal 2022. The acquisition aligns with Johnson Controls' goal of fostering rapid deployment of critical infrastructure in the data center market.
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