Johnson Controls Reports Q3 Earnings Beat, Narrows Guidance

Johnson Controls Intl JCI reported third-quarter earnings of 65 cents per share, which beat the analyst consensus estimate of 63 cents by 3.17%. This is a 19.75% decrease over earnings of 81 cents per share from the same period last year.

The company reported quarterly sales of $6.451 billion, which beat the analyst consensus estimate of $6.43 billion by 0.335. This is a 20.55% decrease over sales of $8.12 billion the same period last year.

Johnson Controls narrowed fiscal year 2019 EPS guidance from $1.85-$1.95 to $1.93-$1.95 versus a $1.91 estimate.

"We delivered another strong quarter of organic revenue, order and backlog growth as well as solid free cash flow,” said CEO George Oliver. “These results reflect the continued emphasis on driving underlying fundamentals with a focus on new product development, talent management and enhanced commercial excellence across the organization."

Johnson Controls shares were trading up 1.94% at $42.07 in Wednesday’s pre-market session. The stock has a 52-week high of $42.18 and a 52-week low of $28.30.

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