Ford and GM had good numbers but JCI is down and cautious about the future. I'm starting to lose faith in this company but I must admit I didn't have much to start with. I'm in this only because of my broker and I'm losing faith in him, too. JCI has a negative free cash flow and now has the additional burden (or perhaps opportunity) of AONE. Don't know but this may be dead money for quite some time.
Actually, I think they had about $400M of FCF this quarter - if I read the press release correctly. I was concerned with FCF in the past, but they appear to have come through this quarter, which is a step in the right direction. We will have to see what happens in the future. Consistent FCF is obviously important.
They are taking steps now to build on the future. This is good. Europe is the problem and if you believe that Europe will continue to sink then JCi will do poorly. BUT Europe will come back. To believe otherwise is nonsense. I look at Europe as building demand. Pent up demand that when released will lead to growth in Europe for many many years.