•
Dec 31, 2022
Johnson Controls Q1 2023 Earnings Report
Reported strong growth and updated FY23 Guidance.
Key Takeaways
Johnson Controls reported a 4% increase in sales compared to the prior year, with organic sales up 9%. Adjusted EPS was $0.67, a 24% increase year-over-year. The company's backlog reached a record $11.3 billion, growing 11% organically.
Q1 reported sales +4% versus prior year; +9% organically
Q1 GAAP EPS of $0.17; Adjusted EPS of $0.67, up 24% versus prior year
Q1 Orders +5% organically year-over year
Record backlog of $11.3 billion, increased 11% organically year-over-year
Johnson Controls
Johnson Controls
Johnson Controls Revenue by Segment
Forward Guidance
The Company initiated fiscal 2023 second quarter guidance and updated its fiscal 2023 full year EPS guidance.
Positive Outlook
- Organic revenue growth of ~10% year-over-year
- Adjusted segment EBITA margin improvement of 100 to 110 basis points year-over-year
- Adjusted EPS before special items of $0.72 to $0.74; representing 15% to 18% growth year-over-year
- Organic revenue growth of high single-digits to low double-digits year-over year
- Adjusted segment EBITA margin improvement of 90 to 120 basis points, year-over-year
Challenges Ahead
- Adjusted EPS before special items of $3.30 to $3.60; representing 10% to 20% growth year-over-year
Revenue & Expenses
Visualization of income flow from segment revenue to net income