Johnson Controls Reaffirms FY21 Outlook, Sets Three-Year Financial Targets

Johnson Controls International PLC JCI provided its medium-term financial outlook through fiscal 2024.
The company's three-year financial targets include 6%-7% revenue CAGR; 250-300 basis points of segment EBITA margin expansion; 18%-21% EPS CAGR; and 100% free cash flow conversion.
In addition, Johnson Controls reaffirmed its Q4 and 2021 full-year guidance, including organic revenue growth up mid-single digits year-over-year.
It expects adjusted segment EBITA margin expansion of 30 basis points for Q4; 80-90 basis points for full-year.
Adjusted EPS before special items of $0.86 - $0.88, up 13%-16% year-over-year for Q4, versus the consensus of $0.89.
Adjusted EPS before special items of $2.64 - $2.66, representing 18%-19% Y/Y growth for full-year, versus the consensus of $2.66.
Price Action: JCI shares are trading higher by 2.13% at $74.92 on the last check Wednesday.

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