Loading...
•
Jun 30, 2022
Johnson Controls Q3 2022 Earnings Report
Johnson Controls delivered strong Q3 orders and is on track to achieve solid full year revenue and EPS growth performance.
Key Takeaways
Johnson Controls reported a 4% increase in sales compared to the prior year, with sales reaching $6.6 billion. GAAP EPS was $0.55, and adjusted EPS was $0.85, a 3% increase versus the prior year. The company's order momentum continues with total field orders up 8% year-over-year and a record field backlog of $11.1 billion, increased 13% organically year-over-year.
GAAP EPS of $0.55; Adjusted EPS of $0.85, up 3% versus prior year
Reported sales +4% versus prior year; +8% organically
Strong Order momentum continues — Total Field Orders +8% year-over-year; +11% organically
Record Field Backlog of $11.1 billion, increased 13% organically year-over-year
Johnson Controls
Johnson Controls
Forward Guidance
The Company initiated fiscal 2022 fourth quarter guidance and revised fiscal 2022 full year EPS guidance.
Positive Outlook
- Organic revenue growth of 9% to 10% year-over-year (Q4)
- Adjusted segment EBITA margin improvement of 40 to 60 basis points, year-over-year (Q4)
- Adjusted EPS before special items of $0.96 to $1.00 (Q4)
- Organic revenue growth of 8% to 9% year-over-year (Full Year)
- Adjusted EPS before special items of $2.98 to $3.02; representing 12% to 14% growth year-over-year (Full Year)
Challenges Ahead
- Adjusted segment EBITA margin down 10 to 20 basis points, year-over-year (Full Year)
- absorbing 6 cents of FX headwinds versus our prior guide