Johnson Controls International plc (JCI Quick QuoteJCI - Free Report) is a supplier of automotive interiors, batteries, and other control equipment. The company is focused on a comprehensive cost saving program along with improving productivity. The company is gaining from its market expansion in China. It anticipates significant growth opportunities in the nation. In addition, Johnson Controls will benefit from the acquisitions and mergers that it undertakes to provide customers with world-class technologies through strong complementary brands and channels.

However, the divestiture of several businesses has been weighing on Johnson Controls’ revenues. Negative foreign currency translation has also been affecting the company’s results. Due to these factors, investors have been eagerly awaiting Johnson Controls’ latest earnings report.

Estimate Trend & Surprise History

Investors should note that earnings estimate for Johnson Controls for first-quarter fiscal 2017 has been stationary over the past month. Johnson Controls has beaten the Zacks Consensus Estimate in 3 of the trailing 4 quarters with an average beat of 5.69%.

Earnings

Johnson Controls delivered adjusted earnings per share of 53 cents in the first quarter of fiscal 2017, beating the Zacks Consensus Estimate of 52 cents. Earnings per share rose 10% year over year from 48 cents recorded in the first quarter of fiscal 2016.
 

Johnson Controls International PLC Price and EPS Surprise
 

Johnson Controls International PLC Price and EPS Surprise | Johnson Controls International PLC Quote

Revenues

Johnson Controls reported revenues of $7,086 million, marginally missing the Zacks Consensus Estimate of $7,093 million.

Key Stats/Developments to Note

Johnson Controls expects adjusted earnings per share in the band of $2.60–$2.75 for fiscal 2017. This represents a year-over-year increase of 13–19%.

Zacks Rank

Currently, Johnson Controls has a Zacks Rank #3 (Hold), but that could change following its earnings report which has just released.

Market Reaction

Johnson Controls’ shares were inactive following the release. It would be interesting to see how the market reacts to the results during the trading session today.

Check back later for our full write up on Johnson Controls’ earnings report!

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