Johnson Controls Inc (JCI) has reported an increase in its first quarter profits from the previous year, aligning with the Street estimates.
The company's net profit stood at $374 million, or $0.55 per share, a notable rise from $118 million, or $0.17 per share from the first quarter of the previous year.
On discounting certain items, Johnson Controls Inc recorded adjusted earnings of $350 million or $0.51 per share for the said period.
Average analyst expectations predicted the company to earn $0.51 per share, as per data compiled by Thomson Reuters. These estimates generally exclude exceptional items.
The company saw a 0.3% increase in revenue for the quarter, at $6.09 billion, up from the previous year's $6.07 billion.
The following details provide a brief overview of Johnson Controls Inc's earnings based on Generally Accepted Accounting Principles (GAAP):
- Earnings for Q1: $374 million. versus. $118 million in the previous year.
- Earnings per share for Q1: $0.55 versus. $0.17 in the previous year.
- Analyst Estimate: $0.51
- Revenue for Q1: $6.09 billion versus. $6.07 billion in the previous year.
The company also issued its guidance for the next quarter with an EPS estimate between $0.74 and $0.78, and the full year EPS is anticipated to be in the range of $3.60 and $3.75.
