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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 achieved the ISASecure® Secure Development Lifecycle Assurance (SDLA) certification, affirming its compliance with the ISA/IEC 62443-4-1 cybersecurity standard. This certification demonstrates Johnson Controls' commitment to delivering secure building technologies through disciplined practices in product development globally. The SDLA program, certified by exida LLC, ensures that security processes are maintained throughout the development lifecycle, enhancing trust in smart building solutions. Jason Christman, VP of Product Security, emphasizes the increasing customer demand for cybersecurity.
Johnson Controls International plc (NYSE: JCI) has announced that Olivier Leonetti will succeed Brian Stief as the new Chief Financial Officer. Leonetti is set to join the company in the coming weeks, initially as CFO-elect, assuming the full role after the filing of the 2020 annual report. Stief will remain Vice Chairman and retire at the end of the year. Leonetti brings over 25 years of financial management experience, previously serving as CFO at Zebra Technologies and Western Digital Corporation. His expertise includes a focus on digital technologies and strategic transformations.
Johnson Controls (NYSE:JCI) has appointed Diane Schwarz as its new chief information officer (CIO), effective immediately. Schwarz will spearhead a comprehensive IT strategy aimed at enhancing reliability and alignment with business goals, further supporting the company's global growth. Previously, she held senior roles at Hunt Consolidated and Textron, showcasing her extensive experience in technology leadership. CEO George Oliver emphasized the importance of her role in fostering innovation and customer service through the company's connected solutions.
On Aug. 4, 2020, Johnson Controls (NYSE: JCI) announced it has acquired the remaining stake in Qolsys Inc., enhancing its capabilities in security and smart building solutions. Johnson Controls, which had held a majority stake since 2014, intends to leverage Qolsys's innovation to bolster its OpenBlue digital platform. Qolsys reported $150 million in revenues for fiscal year 2019, showcasing significant growth in the security market. This acquisition is seen as a strategic move to improve operational efficiencies and expand product offerings globally.
Johnson Controls (NYSE: JCI) launched OpenBlue, a suite of connected solutions and services aimed at enhancing smart and sustainable buildings. This comprehensive digital platform integrates advanced technology with 135 years of industry expertise to improve safety, efficiency, and sustainability. OpenBlue enables dynamic building management through AI-infused services and operational flexibility, addressing critical needs such as COVID-19 response, energy savings, and security. Partnerships with Fortune 100 companies will enhance its capabilities, marking a significant evolution in building management technology.
Johnson Controls International plc (NYSE: JCI) reported a fiscal Q3 2020 GAAP loss per share of $0.24. Adjusted EPS was $0.67, up 3% year-over-year. Sales fell 17% to $5.3 billion, driven by COVID-19 impacts, with an adjusted EBIT of $707 million and a margin of 13.2%. The company reported a non-cash goodwill impairment charge of $424 million related to their Retail business. For Q4, JCI expects an organic revenue decline of 9% to 11% and an adjusted EPS guidance of $0.68 to $0.72. The launch of the OpenBlue digital platform is expected to enhance operational efficiency.
Johnson Controls (NYSE:JCI) announced the launch of the Tyco Illustra Pro Thermal EST, a smart elevated skin temperature scanning solution designed to enhance safety in buildings during the pandemic. This contactless system exceeds standards set by the International Electrotechnical Commission and complies with FDA guidelines. The technology ensures rapid and accurate temperature screening, minimizing crowding, and facilitating a smoother entry experience. The product is available in the US and will be released globally in phases.
Johnson Controls International plc (NYSE: JCI) announced its Third Quarter Fiscal 2020 Earnings Conference Call set for July 31, 2020 at 8:30 a.m. EDT. The call will be accessible via webcast and telephone. A replay will be available from 10:30 a.m. EDT on the same day until August 8, 2020. Johnson Controls focuses on optimizing environments across various sectors, including healthcare and education, with a workforce of 105,000 experts globally. For further details, investors can visit their investor relations page.
Johnson Controls (NYSE:JCI) and Lawrence Berkeley National Laboratory announced the public launch of the Building Efficiency Targeting Tool for Energy Retrofits (BETTER). This open-source tool allows for rapid energy consumption analysis and improvement recommendations without on-site audits, crucial during the COVID-19 pandemic. Over 400,000 energy efficiency workers in the U.S. are currently unemployed, highlighting the tool's importance. BETTER has been tested in over 700 buildings globally, with applications across multiple organizations including schools and energy companies.
Johnson Controls (NYSE: JCI) emphasizes its commitment to enhancing indoor air quality in buildings as they reopen post-pandemic. The company focuses on improving HVAC systems to increase outdoor air circulation and filtration, utilizing UV-C lighting to eliminate pathogens. As part of its strategy, Johnson Controls highlights products like York Air Handling Units and Koch Filters to ensure healthier environments. The ongoing demand for healthy building solutions is expected to drive investments as economies recover, underscoring the importance of air quality in public health.
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