Johnson Controls Q3 2022 Earnings Report
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
Johnson Controls Revenue by Segment
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
Revenue & Expenses
Visualization of income flow from segment revenue to net income