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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 April 15, 2021, Johnson Controls (NYSE: JCI) introduced OpenBlue Buildings as a Service, a digital transformation initiative aimed at enhancing sustainability and operational efficiency in building management. Leveraging over 135 years of experience, this service allows building owners to transfer lifecycle risks, including design, energy efficiency, and maintenance, to Johnson Controls. With contracts exceeding $1 billion and remarkable results from partners like Children's of Alabama, which cut natural gas use by 69%, the initiative reflects a strong commitment to environmental stewardship, while improving total cost of occupancy.
Johnson Controls International (NYSE: JCI) will hold its Second Quarter Fiscal 2021 Earnings Conference Call on April 30, 2021, at 8:30 a.m. EDT. The event can be accessed through a live webcast or via telephone. The replay will be available until May 7, 2021. Johnson Controls, a leader in smart and sustainable building solutions, focuses on transforming environments for various sectors. The company boasts over 135 years of innovation and employs 100,000 experts worldwide, leveraging its extensive portfolio through the OpenBlue digital offering.
Johnson Controls (NYSE: JCI) has secured a $91 million contract with the U.S. General Services Administration (GSA) to enhance the energy efficiency of significant federal buildings as part of the National Deep Energy Retrofit (NDER) program. The project aims for net zero energy consumption and will affect iconic sites like the Ronald Reagan Building and the Eisenhower Executive Office Building. Construction is set to commence on May 1, 2021, with expected energy savings of over 42% and water savings of 50% from combined measures.
Johnson Controls (JCI) announced an agreement to acquire Silent-Aire for up to $870 million. The deal includes approximately $630 million upfront, with additional payments based on performance milestones. Silent-Aire, a leader in data center cooling solutions, expects $650 million in revenue for fiscal year 2021. This acquisition aims to enhance Johnson Controls' presence in the data center market, aligning with its growth strategies. The transaction is projected to close in fiscal Q3 2021 and is expected to add $0.07 to $0.09 to adjusted EPS in fiscal 2022.
Johnson Controls (NYSE: JCI) announced that the Science Based Targets Initiative (SBTi) has approved its greenhouse gas emissions reduction targets, aligning with the Paris Agreement's goals. The company aims to reduce operational emissions by 55% and customer emissions by 16% by 2030. The SBTi validation reinforces Johnson Controls’ strategy for sustainability and its commitment to net-zero emissions. The OpenBlue platform will play a key role in achieving these objectives, promoting healthier environments. Johnson Controls has also joined the Business Ambition for 1.5°C campaign and is committed to reaching net-zero carbon emissions by 2040.
Essence SmartCare has partnered with ADT Security Australia to introduce the Care@Home Enhanced Telecare Services Platform. This initiative aims to expand ADT’s Health and Wellness services targeting the growing senior population in Australia, projected to increase from 33% to 55% for those over 75 in the next 30 years. The Care@Home solution, leveraging advanced technology and AI, promises improved senior care through continuous monitoring and real-time communication. The home care service sector in Australia is estimated to generate annual revenues of approximately $4.5 billion AUD.
Johnson Controls International plc (NYSE: JCI) has announced an increase in its annual cash dividend to $1.08 per share from $1.04, effective from the fiscal second quarter, with a payout ratio of approximately 42%. This dividend payment of $0.27 per share is scheduled for April 16, 2021. Additionally, the company has raised its share repurchase authorization by $4 billion, supplementing the $2 billion remaining from a previous authorization. This strategic move highlights the company's strong balance sheet and ongoing commitment to return capital to shareholders.
Johnson Controls International (NYSE: JCI) will present at the JP Morgan Industrials Conference on March 15, 2021, at 10:30 a.m. EST. Chairman and CEO George Oliver and CFO Olivier Leonetti will participate, with a live webcast available on the company’s website. Johnson Controls enhances environments in various sectors, including healthcare and education, leveraging over 130 years of innovation. For more details, visit www.johnsoncontrols.com.
Johnson Controls (NYSE:JCI) has been recognized by Ethisphere as one of the 2021 World's Most Ethical Companies, marking the 14th time it has received this honor. The award highlights the company's commitment to ethical business practices and compliance programs, essential for maintaining stakeholder trust. Johnson Controls stands out as one of only nine honorees in its industry category. CEO George Oliver emphasized that integrity drives both employee engagement and overall business performance, reinforcing their mission for healthy environments globally.
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