Johnson Controls Expects Record Profits In FY16 - Quick Facts

(RTTNews) - Johnson Controls, (JCI) announced the company expects to post higher revenues and record profits in fiscal 2016. Johnson Controls expects consolidated net sales of approximately $38.6 billion, an approximate 4 percent increase over 2015. The company expects earnings per share of approximately $3.70 to $3.90, up 8 to 14 percent from prior year.

Alex Molinaroli, chairman and CEO of Johnson Controls, said: "We believe our strategic and operating plans will continue to drive strong performance in all of our businesses as we firmly position both new companies for growth."

Johnson Controls announced that the spin-off of its automotive business was progressing as planned, with a targeted date of Oct. 3, 2016 for day one for the Automotive Company.