JCI - Johnson Controls International Non-GAAP EPS of $1.03 in-line revenue of $7.13B misses by $70M

2023-08-02 06:56:58 ET

• Johnson Controls International press release ( NYSE: JCI ): Q3 Non-GAAP EPS of $1.03 in-line.
• Revenue of $7.13B (+7.9% Y/Y) misses by $70M .
• Q3 Orders +8% organically year-over year
• Record backlog of $12.0 billion, increased 8% organically year-over-year

• The Company initiated fiscal 2023 fourth quarter guidance:

  • Organic revenue growth of ~+4% year-over-year
  • Adjusted segment EBITA margin improvement of ~+60 basis points year-over-year
  • Adjusted EPS before special items of ~$1.10; representing ~11% growth year-over-year
  • FULL YEAR GUIDANCE

  The Company updated its fiscal 2023 full year EPS guidance:

  • Organic revenue growth ~+HSD year-over year (previously guided at ~+10% growth)
  • Adjusted segment EBITA margin improvement of ~+110 basis points, year-over-year (previously guided to 100 to 120 basis point improvement)
  • Adjusted EPS before special items of ~$3.55; representing ~18% growth year-over-year (previously guided to $3.50 to $3.60)

For further details see: