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Mar 31, 2021
Johnson Controls Q2 2021 Earnings Report
Reported solid second quarter results and raised full-year guidance.
Key Takeaways
Johnson Controls reported a 3% increase in sales to $5.6 billion and a GAAP EPS of $0.48. Adjusted EPS was $0.52, up 24% versus the prior year. The company raised its full-year adjusted EPS guidance to $2.58 to $2.65.
GAAP EPS of $0.48; Adjusted EPS of $0.52, up 24% versus prior year
Sales and order growth inflected positive on both a nominal and organic basis; Backlog of $9.6 billion increases 4% organically year-over-year
Cash provided by operating activities was $0.6 billion; Free cash flow of $0.5 billion
Announces COGS cost actions to drive $250 million in annual run rate savings by fiscal 2023
Johnson Controls
Johnson Controls
Forward Guidance
Johnson Controls initiated fiscal 2021 third quarter guidance and raised fiscal 2021 full year guidance.
Positive Outlook
- Organic revenue growth up mid-teens year-over-year
- Adjusted segment EBITA margin up slightly, year-over-year
- Adjusted EPS before special items of $0.80 to $0.82; represents 19 to 22% growth year-over-year
- Organic revenue growth up mid-single digits year-over-year
- Adjusted segment EBITA margin expansion of 70 to 90 basis points, year-over-year