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UPDATE: Johnson Controls Q4 Profit Beats Street View

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Johnson Controls (NYSE: JCI) posted upbeat earnings for the fourth quarter.

The Milwaukee, Wisconsin-based company posted quarterly net income of $309 million, or $0.46 per share, compared to $105 million, or $0.15 per share, in the year-ago period. Excluding items, Johnson Controls earned $1.04 per share.

Its revenue surged 2.6% to $10.98 billion in the period. However, analysts were estimating a profit of $1.01 per share on revenue of $11.18 billion.

The company's sales in automotive experience unit gained 3% to $5.3 billion in the quarter, while sales in its building efficiency segment rose 1% to $3.9 billion. Power solution sales climbed 5% to $1.8 billion in the quarter.

"We ended fiscal 2014 with solid contributions from all of our primary businesses, continuing the strong performance we have seen throughout the year," said Alex Molinaroli, Johnson Controls chairman and chief executive officer. "While the macro-economic environment continues to be challenging in some key markets, each of our businesses generated top line growth in the fourth quarter.”

Johnson Controls expects current-quarter earnings of $0.74 to $0.77 per share, versus analysts' estimates of $0.77 per share.

Johnson Controls shares closed at $44.42 yesterday.

Posted-In: profitEarnings News Guidance

 

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