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Company Earnings Update

Johnson Controls (NYSE: JCI) 3Q19 Results: Meets/Beats Consensus, Investing While Seeing Continued Momentum, Raises Annual EPS Guidance

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Coresight Research

Key Points

  • Johnson Controls reported fiscal 3Q19 revenues of $6.45 billion, up 2.7% and in line with the consensus estimate. Organic growth was 6%. Adjusted EPS from continuing operations was $0.65, beating the consensus estimate by two cents.
  • Revenues in the field business (building solutions) grew 2% as reported and 5% organically. Revenues in the products business grew 3% and 7% organically. Backlog increased 7% year over year.
  • The company narrowed its 2019 EPS (from continuing operations) guidance range upwards to $1.93-1.95 (up 21%-23% year over year) from $1.85-1.95 previously.

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