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Jun 30, 2021
Johnson Controls Q3 2021 Earnings Report
Reported solid third quarter results and raised full year guidance.
Key Takeaways
Johnson Controls reported a strong third quarter with a 19% increase in sales compared to the prior year, and up 15% organically. GAAP EPS was $0.80, and adjusted EPS was $0.83, a 24% increase year-over-year. The company also raised its full year adjusted EPS guidance to $2.64 to $2.66.
GAAP EPS of $0.80; Adjusted EPS of $0.83, up 24% versus prior year
Reported sales +19% versus prior year; +15% organic
Organic order growth accelerated to +18% year-over-year, with strong underlying momentum; Backlog of $10.0 billion increased 7% organically year-over-year
Completed acquisition of Silent-Aire, establishing a leading position in the high growth hyperscale data center vertical
Forward Guidance
The company raised fiscal 2021 full year guidance:
Positive Outlook
- Organic revenue growth up mid-single digits year-over-year
- Adjusted segment EBITA margin expansion of 80 to 90 basis points, year-over-year
- Adjusted EPS before special items of $2.64 to $2.66; represents 18 to 19% growth year-over-year
Historical Earnings Impact
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Avg. Return Before/After Earnings
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