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Johnson Controls (JCI) Q4 Earnings Beats Estimates

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Johnson Controls International plc (JCI - 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 the 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 the fourth-quarter (ended Sep 30, 2016) earnings estimate for Johnson Controls has been falling over the past month.

Johnson Controls has a mostly positive history of earnings surprises. It has beaten the Zacks Consensus Estimate in 2 of the trailing 4 quarters and posted in-line results in the other 2, with a positive average beat of 1.03%.

JOHNSON CONTRLS Price and EPS Surprise

 

JOHNSON CONTRLS Price and EPS Surprise | JOHNSON CONTRLS Quote

Earnings Top Estimates

Johnson Controls delivered adjusted earnings per share of $1.21 in the fourth quarter of fiscal 2016, beating the Zacks Consensus Estimate of $1.02. Adjusted earnings also increased 16% year over year.

Revenues Beat Estimates

Johnson Controls reported revenues of $10.2 billion, up from $8.7 billion in the prior-year quarter. Revenues also surpassed the Zacks Consensus Estimate of $10.06 billion.

Key Stats/Developments to Note

For fiscal 2016, Johnson Controls reported revenues of $37.7 billion and adjusted EPS of $3.98.

Zacks Rank

Currently, Johnson Controls has a Zacks Rank #5 (Strong Sell), but that could change following its earnings report which has just released.You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

Market Reaction

Johnson Controls’ shares have been rising in pre-market trading following the release. Clearly, the initial reaction to the results is positive.

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

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