TECH - Here's Why You Should Retain Johnson Controls Stock Now | Benzinga
Johnson Controls International plc (NYSE: JCI) is poised to gain from strength in the Building Solutions North America segment, acquired assets and shareholder-friendly moves despite softness in the Global Products segment and increasing costs.
What's Aiding JCI?
Business Strength: Johnson Controls has been experiencing strong momentum in the Building Solutions North America and Building Solutions Europe, Middle East, and Africa/Latin America (EMEA/LA) segments. Solid demand for heating, ventilation and air conditioning (HVAC) platform in data centers & strength in controls businesses are driving the Building Solutions North America segment. The segment's revenues jumped 9% year over year in the second quarter (ended Mar 31, 2024).
The increase in demand for the HVAC platform across Latin America and Middle East regions, and strength in industrial refrigeration and service businesses are supporting the Building Solutions EMEA/LA segment. Revenues from this segment increased 3% year over year in the fiscal second quarter.
Investments in Digital Offerings: Investments in digital offerings, like the OpenBlue platform, which plays an integral part in meeting customer needs, are expected to drive growth. Johnson Controls expanded its suite of digital services and offerings to include connected chillers, industrial refrigeration equipment, connected controls and BAS systems. The digital ...