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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) announced strategic SG&A actions aimed at improving operational efficiency and profitability, projecting annual savings of $300 million by fiscal year-end 2023. The one-time pretax costs associated with these actions are estimated at $240 million, primarily recorded in fiscal 2021. The company has raised its fiscal 2021 adjusted EPS outlook to $2.50 to $2.60, alongside an expected adjusted Segment EBITA margin increase of 60 to 90 basis points. The outlook for organic revenue growth and free cash flow conversion remains unchanged.
Johnson Controls International plc (NYSE: JCI) will present at Citi's 2021 Global Industrials Virtual Conference on February 17, 2021, at 1:00 p.m. EST. The presentation will feature Chairman and CEO George Oliver and CFO Olivier Leonetti. Investors can access a live webcast on the company's website here. This event marks a key opportunity for stakeholders to gain insights into Johnson Controls' strategies and performance.
Johnson Controls International plc (NYSE: JCI) executives will present at the Barclays Industrial Select Conference on February 17, 2021, at 8:10 a.m. EST. Chairman and CEO George Oliver and CFO Olivier Leonetti will lead the discussion. A live webcast of the presentation can be accessed on the company's official website.
For further information, investor contacts include Antonella Franzen at 609.720.4665, while media inquiries can be directed to Chaz Bickers at 224.505.9290.
Johnson Controls International plc (NYSE: JCI) announced fiscal Q1 2021 results, reporting GAAP EPS of $0.45 and adjusted EPS of $0.43, an 8% increase year-over-year. Sales totaled $5.3 billion, down 4% due to the COVID-19 impact. Net income from continuing operations was $327 million, while adjusted net income rose 2% to $311 million. EBIT was $492 million, with an 9.2% margin. The company expects organic revenue growth and margin expansion in Q2 2021 and reiterated its commitment to sustainability initiatives.
On January 28, 2021, Johnson Controls (NYSE: JCI) revealed survey results from over 800 building decision-makers indicating a significant shift towards investing in healthy building technologies. The surveys highlighted that 90% of firms are allocating resources to these initiatives, prompted by a growing concern for employee wellness and sustainability. Key findings include 80% of organizations prioritizing the health and safety of occupants and 76% focusing on energy efficiency investments. Johnson Controls aims to meet these demands through its OpenBlue technologies, enhancing operational value and sustainability goals.
Johnson Controls (NYSE: JCI) announced on January 19, 2021, that its CEO George Oliver has been appointed chair of the Energy & Environment Committee by the Business Roundtable. This committee aims to promote sustainable policies as the U.S. focuses on clean energy in the upcoming administration. Oliver emphasized the importance of collective business action in combating climate change and driving innovation. Johnson Controls, with 100,000 employees, is committed to sustainable practices, receiving an A- rating from CDP for its emissions efforts. The company also launched its inaugural green bond and supports U.N. sustainability principles.
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