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Johnson Controls (JCI) Q2 Earnings & Revenues Beat Estimates
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Johnson Controls International plc (JCI - Free Report) reported adjusted earnings of 53 cents per share in second-quarter fiscal 2018, beating the Zacks Consensus Estimate of 52 cents. Moreover, earnings increased 6% from 50 cents per share registered in second-quarter fiscal 2017.
Operational Update
Johnson Controls reported revenues of $7.48 billion, surpassing the Zacks Consensus Estimate of $7.45 billion. Revenues increased 3% year over year.
Cost of sales increased to $5.26 billion from $4.99 billion in the year-ago quarter. Gross profit decreased to $2.22 billion from $2.28 billion in the year-ago quarter.
Selling, general and administrative expenses in the fiscal second quarter totaled $1.59 billion, decreasing from the prior-year quarter figure of $1.73 billion.
Segment Results
Building Technologies & Solutions: This segment’s adjusted revenues were $5.63 billion, increasing from the year-ago quarter figure of $5.54 billion.
Segment EBITA increased to $630 million from $628 million in second-quarter fiscal 2017.
Power Solutions: Adjusted revenues in this segment increased to $1.86 billion from $1.70 billion in second-quarter fiscal 2017. Segment EBITA was $314 million, up from second-quarter fiscal 2017 figure of $303 million.
Financial Position
Johnson Controls had cash and cash equivalents of $268 million as of Mar 31, 2018, increasing from $321 million as of Sep 30, 2017. Long-term debt declined to $11 billion in the quarter from $12 billion as of Sep 30, 2017.
In the reported quarter, the company repurchased 1.3 million shares for $50 million.
Guidance
Johnson Controls reaffirms adjusted EPS guidance for fiscal 2018 at $2.75-$2.85.
Johnson Controls International plc Price, Consensus and EPS Surprise
BMW AG has expected long-term growth rate of 4.5%. In the past year, shares of the company have returned 15.9%.
Allison Transmission has expected long-term growth rate of 10%. In a year, shares of the company have advanced 0.6%.
Spartan Motors has expected long-term growth rate of 15%. Over a year, shares of the company have gained 108.8%.
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Zacks EVP Kevin Matras believes this familiar stock has only just begun its climb to become one of the greatest investments of all time. It’s a once-in-a-generation opportunity to invest in pure genius.
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Johnson Controls (JCI) Q2 Earnings & Revenues Beat Estimates
Johnson Controls International plc (JCI - Free Report) reported adjusted earnings of 53 cents per share in second-quarter fiscal 2018, beating the Zacks Consensus Estimate of 52 cents. Moreover, earnings increased 6% from 50 cents per share registered in second-quarter fiscal 2017.
Operational Update
Johnson Controls reported revenues of $7.48 billion, surpassing the Zacks Consensus Estimate of $7.45 billion. Revenues increased 3% year over year.
Cost of sales increased to $5.26 billion from $4.99 billion in the year-ago quarter. Gross profit decreased to $2.22 billion from $2.28 billion in the year-ago quarter.
Selling, general and administrative expenses in the fiscal second quarter totaled $1.59 billion, decreasing from the prior-year quarter figure of $1.73 billion.
Segment Results
Building Technologies & Solutions: This segment’s adjusted revenues were $5.63 billion, increasing from the year-ago quarter figure of $5.54 billion.
Segment EBITA increased to $630 million from $628 million in second-quarter fiscal 2017.
Power Solutions: Adjusted revenues in this segment increased to $1.86 billion from $1.70 billion in second-quarter fiscal 2017. Segment EBITA was $314 million, up from second-quarter fiscal 2017 figure of $303 million.
Financial Position
Johnson Controls had cash and cash equivalents of $268 million as of Mar 31, 2018, increasing from $321 million as of Sep 30, 2017. Long-term debt declined to $11 billion in the quarter from $12 billion as of Sep 30, 2017.
In the reported quarter, the company repurchased 1.3 million shares for $50 million.
Guidance
Johnson Controls reaffirms adjusted EPS guidance for fiscal 2018 at $2.75-$2.85.
Johnson Controls International plc Price, Consensus and EPS Surprise
Johnson Controls International plc Price, Consensus and EPS Surprise | Johnson Controls International plc Quote
Zacks Rank & Key Picks
Johnson Controls currently carries a Zacks Rank #4 (Sell).
Some better-ranked stocks in the same space are BMW AG (BAMXF - Free Report) , Allison Transmission Holdings, Inc. (ALSN - Free Report) and Spartan Motors, Inc. . Each of the stocks carries a Zacks Rank #2 (Buy).You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
BMW AG has expected long-term growth rate of 4.5%. In the past year, shares of the company have returned 15.9%.
Allison Transmission has expected long-term growth rate of 10%. In a year, shares of the company have advanced 0.6%.
Spartan Motors has expected long-term growth rate of 15%. Over a year, shares of the company have gained 108.8%.
Wall Street’s Next Amazon
Zacks EVP Kevin Matras believes this familiar stock has only just begun its climb to become one of the greatest investments of all time. It’s a once-in-a-generation opportunity to invest in pure genius.
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