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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 May 11, 2021, Johnson Controls (NYSE: JCI) announced the appointment of Vijay Sankaran as vice president and chief technology officer. This role aims to enhance the OpenBlue digital platform and boost software engineering capabilities. Sankaran, previously at TD Ameritrade, is expected to leverage his extensive experience in technology transformation to strengthen customer solutions and market competitiveness. CEO George Oliver emphasized the significance of this appointment in addressing trends like sustainability and energy efficiency.
Johnson Controls (NYSE: JCI) will participate in the Goldman Sachs Industrials & Materials Conference 2021. The event is scheduled for May 13, 2021, at 10:30 a.m. EDT, featuring insights from CFO Olivier Leonetti. A live webcast will be accessible on their website.
Johnson Controls aims to enhance building environments and technology, having a workforce of 100,000 across 150 countries, establishing itself as a leader in smart and sustainable buildings.
Johnson Controls International plc (NYSE: JCI) reported Q2 2021 GAAP EPS of $0.48 and adjusted EPS of $0.52, a 24% increase year-over-year. Sales reached $5.6 billion, up 3% from the previous year, with adjusted net income rising 18% to $373 million. Highlights include a $250 million annualized savings target from COGS actions. The company also raised guidance for Q3 and full-year 2021, forecasting organic revenue growth of mid-teens for Q3 and adjusted EPS of $2.58 to $2.65 for the full year, representing 15-18% growth.
On April 22, 2021, Johnson Controls (NYSE: JCI) announced a global partnership with the International WELL Building Institute™ (IWBI™) to advance the WELL Building Standard™ for enhancing health and safety in buildings. Johnson Controls will establish a Healthy Buildings Center of Excellence and aims to achieve WELL Health-Safety Ratings at its headquarters in the USA and China by Q3 FY21. The company plans to support employees pursuing WELL AP credentials, fostering expertise in healthy building practices. This collaboration aims to promote sustainable, healthy environments.
Johnson Controls (NYSE: JCI) announced that Chairman and CEO George Oliver has been invited by President Joe Biden to participate in the virtual Leaders Summit on Climate. The summit aims to strengthen collective efforts against climate change ahead of the COP26 conference. Oliver emphasized the importance of a roadmap for limiting global temperature rise and highlighted the economic benefits of a lower-carbon economy. He will speak on April 23 about building roles in reducing emissions. Johnson Controls targets a 55% reduction in operational emissions by 2030 and is committed to sustainability.
Johnson Controls International (NYSE: JCI) will have Executive Vice President and CFO Olivier Leonetti speak at the Oppenheimer 16th Annual Industrial Growth Conference on May 4, 2021, at 9:00 a.m. EDT. A live webcast of the presentation will be available on their official website.
With over 135 years of innovation, Johnson Controls leads in smart and sustainable building solutions, catering to industries like healthcare, schools, and data centers.
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.
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