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Investing.com -- Johnson Controls International plc (NYSE:JCI) reported better-than-expected second quarter earnings on Wednesday.
The company’s shares slipped 0.91% in premarket trading following the release.
The smart building technology company posted adjusted earnings per share of $0.82, topping analyst expectations of $0.79. Revenue grew 1% year-over-year to $5.68 billion, also beating the consensus estimate of $5.64 billion. Organic sales increased 7% compared to the prior year period.
"The Johnson Controls team delivered strong second quarter results, highlighted by organic sales growth, margin expansion and record backlog," said CEO Joakim Weidemanis.
For the fiscal third quarter, Johnson Controls expects adjusted EPS between $0.97 and $1.00, below the $1.01 analysts were projecting. However, the company raised its full-year EPS outlook to approximately $3.60, up from its previous guidance of $3.50-$3.60 and above the $3.56 Wall Street consensus.
The company reported strong order growth, with total orders up 5% organically year-over-year. Building Solutions backlog reached $14.0 billion, increasing 12% organically from the prior year.
Johnson Controls said it is seeing sustained demand for its building efficiency and sustainability solutions.