Johnson Controls Q1 adj EPS $0.51, sales flat YoY; cuts FY24 guidance, explores strategic alternatives

Johnson Controls International plc

2024-Q1 EPS reported $0.55 revenue$6,094,000,000

Q1 GAAP EPS $0.55, adjusted EPS $0.51; net income $374M GAAP, $350M adjusted.
Sales $6.1B flat as reported, -1% organic; orders +1% organic, backlog $12.1B (+7% organic).
FY24 adjusted EPS guidance lowered to ~$3.60-$3.75 from prior $3.65-$3.80.
Early stages of pursuing strategic alternatives for non-commercial businesses to maximize shareholder value.
Marc Vandiepenbeeck appointed CFO, effective immediately.

item 2.02 item 9.01

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 0.9

Johnson Controls International plc reported fiscal year 2024 results: EPS ~$3.60 to $3.75. Guidance lowered.

Period: fiscal year 2024
EPS: ~$3.60 to $3.75
Guidance: lowered
Result: guidance update

Exact text from the filing

Updates FY24 Adjusted EPS before special items of ~$3.60 to $3.75 from prior range of ~$3.65 to $3.80

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Earnings Releases SEC 8-K Item 2.02 confidence 0.9

Johnson Controls International plc reported fiscal first quarter 2024 results: revenue $6.1 billion, net income $374 million, EPS $0.55.

Period: fiscal first quarter 2024
Revenue: $6.1 billion
Net income: $374 million
EPS: $0.55
Result: reported results

Exact text from the filing

Johnson Controls International plc (NYSE: JCI), a global leader for smart, healthy and sustainable buildings, today reported fiscal first quarter 2024 GAAP earnings per share (“EPS”) from continuing operations of $0.55. Excluding special items, adjusted EPS from continuing operations was $0.51 (see attached footnotes for non-GAAP reconciliation). Sales in the quarter of $6.1 billion were flat compared to the prior year on an as reported basis and declined 1% organically. GAAP net income from continuing operations was $374 million.

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Source: SEC EDGAR

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