Good morning, and thank you for joining our conference call to discuss Johnson Controls first quarter fiscal 2023 results. Joining me on the call today are Johnson Controls chairman and chief executive officer, George Oliver; and chief financial officer, Olivier Leonetti. Listeners are cautioned that these statements are subject to certain risks and uncertainties, many of which are difficult to predict and generally beyond the control of Johnson Controls.
Johnson Controls' (JCI) fiscal first-quarter results benefit from robust performance of the Building Solutions North America unit. The company issues bullish guidance for the fiscal second quarter.
Johnson Controls International (NYSE: JCI) delivered quarterly results that were in line with expectations, but with the stock up about 40% since Oct. 1, investors were apparently expecting more. The stock price fell by as much as 7% on Wednesday morning as bulls adjusted to the realities of a difficult operating environment that is impacting many of the company's markets. Johnson Controls manufactures heating, ventilation, and air conditioning (HVAC) products and other building automation equipment for residential and commercial properties.