Johnson Controls Initiates Guidance

(RTTNews) - Johnson Controls International plc (JCI) said, for fiscal 2023, the company expects: organic revenue growth of high single-digits to low double-digits year-over year; adjusted EPS before special items of $3.20 to $3.60; representing 7% to 20% growth year-over-year.

For the first quarter, the company expects: organic revenue growth of low double-digit year-over-year; and adjusted EPS before special items of $0.65 to $0.67.

Excluding special items, fourth quarter adjusted EPS from continuing operations was $0.99, up 13% from prior year. On average, six analysts polled by Thomson Reuters expected the company to report profit per share of $1.0, for the quarter. Analysts' estimates typically exclude special items.

Net income from continuing operations declined to $269 million or $0.38 per share from $761 million or $1.10 per share, last year.

Sales were $6.7 billion, increased 5% compared to the prior year on an as reported basis and grew 10% organically. Analysts on average had estimated $6.89 billion in revenue. For more earnings news, earnings calendar, and earnings for stocks, visit rttnews.com.