Johnson Controls Meets on the Top Line, Misses Where It Counts
Johnson Controls (NYS: JCI) reported earnings on Jan. 19. Here are the numbers you need to know.
The 10-second takeaway
For the quarter ended Dec. 31 (Q1), Johnson Controls met expectations on revenues and missed on earnings per share.
Compared to the prior-year quarter, revenue grew, and earnings per share improved.
Gross margins dropped, operating margins dropped, net margins were steady.
Johnson Controls notched revenue of $10.4 billion. The 20 analysts polled by S&P Capital IQ expected net sales of $10.5 billion. Sales were 9.2% higher than the prior-year quarter's $9.5 billion
Source: S&P Capital IQ. Quarterly periods. Dollar amounts in millions.
EPS came in at $0.60. The earnings estimates compiled by S&P Capital IQ averaged $0.62 per share. GAAP EPS of $0.60 for Q1 were 9.8% higher than the prior-year quarter's $0.55 per share.
Source: S&P Capital IQ. Quarterly periods. Figures may be non-GAAP to maintain comparability with estimates.
For the quarter, gross margin was 14.7%, 10 basis points worse than the prior-year quarter. Operating margin was 4.6%, 30 basis points worse than the prior-year quarter. Net margin was 3.9%, about the same as the prior-year quarter.
Next quarter's average estimate for revenue is $10.9 billion. On the bottom line, the average EPS estimate is $0.70.
Next year's average estimate for revenue is $44.0 billion. The average EPS estimate is $2.95.
The stock has a five-star rating (out of five) at Motley Fool CAPS, with 1,150 members out of 1,200 rating the stock outperform, and 50 members rating it underperform. Among 313 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 304 give Johnson Controls a green thumbs-up, and nine give it a red thumbs-down.
Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on Johnson Controls is outperform, with an average price target of $41.72.
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At the time this article was published Seth Jayson had no position in any company mentioned here at the time of publication. You can view his stock holdings here. He is co-advisor ofMotley Fool Hidden Gems, which provides new small-cap ideas every month, backed by a real-money portfolio. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.
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