We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
Johnson Controls (JCI) Q3 Earnings, Revenues Top Estimates
Read MoreHide Full Article
Johnson Controls International plc (JCI - Free Report) has reported adjusted earnings per share of 65 cents in third-quarter fiscal 2019, surpassing the Zacks Consensus Estimate of 63 cents. Earnings were 81 cents per share in third-quarter fiscal 2018. The reported quarter witnessed solid organic revenue growth.
Operational Update
For the quarter under review, Johnson Controls reported revenues of $6.45 billion, up 3% year over year. Revenues surpassed the Zacks Consensus Estimate of $6.42 billion. In the quarter under review, its cost of sales increased to $4.31 billion from $4.19 billion in the year-ago quarter. Gross profit rose to $2.14 billion from $2.09 billion in the year-ago quarter.
Selling, general and administrative expenses in the fiscal third quarter totaled $1.39 billion, down from the prior-year quarter figure of $1.44 billion.
Johnson Controls International plc Price, Consensus and EPS Surprise
Building Solutions North America: This segment’s adjusted revenues were $2.33 billion, increasing from the year-ago quarter’s $2.25 billion. The segment’s EBITA decreased to $310 million from $318 million in third-quarter fiscal 2018.
Building Solutions Europe, Middle East, Africa/Latin America: Adjusted revenues in this segment declined to $922 million from $926 million a year ago. Segment’s EBITA was $103 million, up from third-quarter fiscal 2018 level of $98 million.
Building Solutions Asia Pacific: Adjusted revenues in this segment rose to $691 million from $681 million a year ago. This segment’s EBITA was $98 million, up from third-quarter fiscal 2018 level of $97 million.
Global Products: Adjusted revenues in this segment rose to $2.51 billion from $2.43 billion a year ago. This segment’s EBITA was $481 million, up from third-quarter fiscal 2018 level of $441 million.
Financial Position
Johnson Controls had cash and cash equivalents of $3.69 billion as of Jun 30, 2019, up from $185 million as of Sep 30, 2018. Long-term debt declined to $6.8 billion in the quarter under review from $9.62 billion as of Sep 30, 2018.
In the reported quarter, the company repurchased 105 million shares for $4.1 billion.
Guidance
The company anticipates fiscal 2019 adjusted EPS from continuing operations of $1.93-$1.95, suggesting a 21-23% increase from the year-ago reported figure.
Zacks Rank & Stocks to Consider
Johnson Controls currently carries a Zacks Rank #4 (Sell).
Copart has an expected long-term growth rate of 20%. In the past year, shares of the company have rallied 35.6%.
CarMax has an expected long-term growth rate of 12.6%. In the past year, shares of the company have moved up 17.6%.
Gentex has an expected long-term growth rate of 5%. In the past year, shares of the company have returned 17.1%.
More Stock News: This Is Bigger than the iPhone!
It could become the mother of all technological revolutions. Apple sold a mere 1 billion iPhones in 10 years but a new breakthrough is expected to generate more than 27 billion devices in just 3 years, creating a $1.7 trillion market.
Zacks has just released a Special Report that spotlights this fast-emerging phenomenon and 6 tickers for taking advantage of it. If you don't buy now, you may kick yourself in 2020.
Image: Bigstock
Johnson Controls (JCI) Q3 Earnings, Revenues Top Estimates
Johnson Controls International plc (JCI - Free Report) has reported adjusted earnings per share of 65 cents in third-quarter fiscal 2019, surpassing the Zacks Consensus Estimate of 63 cents. Earnings were 81 cents per share in third-quarter fiscal 2018. The reported quarter witnessed solid organic revenue growth.
Operational Update
For the quarter under review, Johnson Controls reported revenues of $6.45 billion, up 3% year over year. Revenues surpassed the Zacks Consensus Estimate of $6.42 billion. In the quarter under review, its cost of sales increased to $4.31 billion from $4.19 billion in the year-ago quarter. Gross profit rose to $2.14 billion from $2.09 billion in the year-ago quarter.
Selling, general and administrative expenses in the fiscal third quarter totaled $1.39 billion, down from the prior-year quarter figure of $1.44 billion.
Johnson Controls International plc Price, Consensus and EPS Surprise
Johnson Controls International plc price-consensus-eps-surprise-chart | Johnson Controls International plc Quote
Segment Results
Building Solutions North America: This segment’s adjusted revenues were $2.33 billion, increasing from the year-ago quarter’s $2.25 billion. The segment’s EBITA decreased to $310 million from $318 million in third-quarter fiscal 2018.
Building Solutions Europe, Middle East, Africa/Latin America: Adjusted revenues in this segment declined to $922 million from $926 million a year ago. Segment’s EBITA was $103 million, up from third-quarter fiscal 2018 level of $98 million.
Building Solutions Asia Pacific: Adjusted revenues in this segment rose to $691 million from $681 million a year ago. This segment’s EBITA was $98 million, up from third-quarter fiscal 2018 level of $97 million.
Global Products: Adjusted revenues in this segment rose to $2.51 billion from $2.43 billion a year ago. This segment’s EBITA was $481 million, up from third-quarter fiscal 2018 level of $441 million.
Financial Position
Johnson Controls had cash and cash equivalents of $3.69 billion as of Jun 30, 2019, up from $185 million as of Sep 30, 2018. Long-term debt declined to $6.8 billion in the quarter under review from $9.62 billion as of Sep 30, 2018.
In the reported quarter, the company repurchased 105 million shares for $4.1 billion.
Guidance
The company anticipates fiscal 2019 adjusted EPS from continuing operations of $1.93-$1.95, suggesting a 21-23% increase from the year-ago reported figure.
Zacks Rank & Stocks to Consider
Johnson Controls currently carries a Zacks Rank #4 (Sell).
Some better-ranked stocks in the auto space are Copart, Inc. (CPRT - Free Report) , CarMax, Inc. (KMX - Free Report) and Gentex Corporation (GNTX - Free Report) . While Copart currently sports a Zacks Rank #1 (Strong Buy), CarMax and Gentex carry a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Copart has an expected long-term growth rate of 20%. In the past year, shares of the company have rallied 35.6%.
CarMax has an expected long-term growth rate of 12.6%. In the past year, shares of the company have moved up 17.6%.
Gentex has an expected long-term growth rate of 5%. In the past year, shares of the company have returned 17.1%.
More Stock News: This Is Bigger than the iPhone!
It could become the mother of all technological revolutions. Apple sold a mere 1 billion iPhones in 10 years but a new breakthrough is expected to generate more than 27 billion devices in just 3 years, creating a $1.7 trillion market.
Zacks has just released a Special Report that spotlights this fast-emerging phenomenon and 6 tickers for taking advantage of it. If you don't buy now, you may kick yourself in 2020.
Click here for the 6 trades >>