Johnson Controls (JCI) Q3 Earnings & Revenues Beat Estimates
Johnson Controls International plc JCI reported adjusted earnings per share of 81 cents in third-quarter fiscal 2018, beating the Zacks Consensus Estimate of 80 cents. Moreover, earnings increased 14% from 50 cents recorded in third-quarter fiscal 2017.
Johnson Controls reported revenues of $8.1 billion, surpassing the Zacks Consensus Estimate of $7.96 billion. Revenues increased 6% year over year.
Cost of sales increased to $5.64 billion from $5.25 billion in the year-ago quarter. Gross profit rose to $2.47 billion from $2.43 billion in the year-ago quarter.
Selling, general and administrative expenses in the fiscal third quarter totaled $1.52 billion, down from the prior-year quarter figure of $1.61 billion.
Johnson Controls International plc Price, Consensus and EPS Surprise
Johnson Controls International plc Price, Consensus and EPS Surprise | Johnson Controls International plc Quote
Building Technologies & Solutions: This segment’s adjusted revenues were $6.28 billion, increasing from the year-ago quarter figure of $6.06 billion. Segment EBITA increased to $954 million from $908 million in third-quarter fiscal 2017.
Power Solutions: Adjusted revenues in this segment rose to $1.84 billion from $1.61 billion a year ago. Segment EBITA was $310 million, up from third-quarter fiscal 2017 level of $304 million.
Johnson Controls had cash and cash equivalents of $283 million as of Jun 30, 2018, down from $321 million as of Sep 30, 2017. Long-term debt declined to $10.37 billion in the quarter from $12 billion as of Sep 30, 2017.
In the reported quarter, the company repurchased 1.6 million shares for $60 million.
Johnson Controls tweaked the adjusted EPS guidance for fiscal 2018 to $2.80-$2.82 from the previous $2.75 to $2.85.
Zacks Rank & Key Picks
Johnson Controls currently carries a Zacks Rank #4 (Sell).
Some better-ranked stocks in the auto space are Oshkosh Corporation OSK, AB Volvo VLVLY and Fox Factory Holding Corp. FOXF, each carrying a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Oshkosh has an expected long-term growth rate of 18.3%. Over the past year, shares of the company have moved up 6.7%.
AB Volvo has an expected long-term growth rate of 15%. Over the past year, shares of the company have gained 4%.
Fox Factory has an expected long-term growth rate of 15.8%. Shares of the company have risen 27.6% in a year’s time.
Today's Stocks from Zacks' Hottest Strategies
It's hard to believe, even for us at Zacks. But while the market gained +21.9% in 2017, our top stock-picking screens have returned +115.0%, +109.3%, +104.9%, +98.6%, and +67.1%.
And this outperformance has not just been a recent phenomenon. Over the years it has been remarkably consistent. From 2000 - 2017, the composite yearly average gain for these strategies has beaten the market more than 19X over. Maybe even more remarkable is the fact that we're willing to share their latest stocks with you without cost or obligation.
See Them Free>>
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
Fox Factory Holding Corp. (FOXF) : Free Stock Analysis Report
Johnson Controls International plc (JCI) : Free Stock Analysis Report
Oshkosh Corporation (OSK) : Free Stock Analysis Report
AB Volvo (VLVLY) : Free Stock Analysis Report
To read this article on Zacks.com click here.
Zacks Investment Research