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Johnson Controls: Fiscal 3Q Earnings Snapshot

July 31, 2020 GMT

CORK, Ireland (AP) _ Johnson Controls International PLC (JCI) on Friday reported a fiscal third-quarter loss of $182 million, after reporting a profit in the same period a year earlier.

The Cork, Ireland-based company said it had a loss of 24 cents per share. Earnings, adjusted for non-recurring costs, were 67 cents per share.

The results beat Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for earnings of 50 cents per share.

The diversified technology and industrial company posted revenue of $5.34 billion in the period, also beating Street forecasts. Five analysts surveyed by Zacks expected $5.14 billion.

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For the current quarter ending in September, Johnson Controls expects its per-share earnings to range from 68 cents to 72 cents.

The company expects full-year earnings in the range of $2.16 to $2.20 per share.

Johnson Controls shares have decreased 8.5% since the beginning of the year, while the Standard & Poor’s 500 index has stayed nearly flat. The stock has decreased nearly 10% in the last 12 months.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on JCI at https://www.zacks.com/ap/JCI

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