Yahoo Finance Johnson Controls Earnings: What To Look For From JCI
Building operations company Johnson Controls (NYSE:JCI) will be reporting earnings tomorrow before market open. Here's what investors should know.
Johnson Controls met analysts' revenue expectations last quarter, reporting revenues of $6.70 billion, flat year on year. It was a good quarter for the company, with a decent beat of analysts' organic revenue estimates.
Is Johnson Controls a buy or sell going into earnings? Read our full analysis here, it's free.
This quarter, analysts are expecting Johnson Controls's revenue to grow 2.9% year on year to $7.34 billion, slowing from the 7.8% increase it recorded in the same quarter last year. Adjusted earnings are expected to come in at $1.08 per share.
The majority of analysts covering the company have reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings.
Looking at Johnson Controls's peers in the building products segment, some have already reported their Q2 results, giving us a hint as to what we can expect. Apogee's revenues decreased 8.3% year on year, meeting analysts' expectations, and Carlisle reported revenues up 11%, in line with consensus estimates. Apogee traded up 6.6% following the results while Carlisle's stock price was unchanged.
Read our full analysis of Apogee's results here and Carlisle's results here.
There has been positive sentiment among investors in the building products segment, with share prices up 10.2% on average over the last month. Johnson Controls is up 5.8% during the same time and is heading into earnings with an average analyst price target of $71.4 (compared to the current share price of $69.3).
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