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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
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
Historical Earnings Impact
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Avg. Return Before/After Earnings
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