The 10-second takeaway
For the quarter ended Dec. 31 (Q1), Johnson Controls beat slightly on revenues and beat slightly on earnings per share.
Compared to the prior-year quarter, revenue was unchanged and GAAP earnings per share contracted.
Margins shrank across the board.
Johnson Controls logged revenue of $10.42 billion. The 19 analysts polled by S&P Capital IQ predicted revenue of $10.28 billion on the same basis. GAAP reported sales were 0.0% higher than the prior-year quarter's $10.42 billion.
Source: S&P Capital IQ. Quarterly periods. Dollar amounts in millions. Non-GAAP figures may vary to maintain comparability with estimates.
EPS came in at $0.52. The 26 earnings estimates compiled by S&P Capital IQ predicted $0.51 per share. GAAP EPS of $0.52 for Q1 were 13% lower than the prior-year quarter's $0.60 per share.
Source: S&P Capital IQ. Quarterly periods. Non-GAAP figures may vary to maintain comparability with estimates.
For the quarter, gross margin was 14.5%, 20 basis points worse than the prior-year quarter. Operating margin was 4.4%, 20 basis points worse than the prior-year quarter. Net margin was 3.4%, 50 basis points worse than the prior-year quarter.
Next quarter's average estimate for revenue is $10.48 billion. On the bottom line, the average EPS estimate is $0.52.
Next year's average estimate for revenue is $42.90 billion. The average EPS estimate is $2.63.
The stock has a four-star rating (out of five) at Motley Fool CAPS, with 1,206 members out of 1,266 rating the stock outperform, and 60 members rating it underperform. Among 325 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 314 give Johnson Controls a green thumbs-up, and 11 give it a red thumbs-down.
Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on Johnson Controls is hold, with an average price target of $32.00.
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