Johnson Controls Topped Q2 Estimates, Issued 2011 Revenue Guidance
Apr 25, 2011
Johnson Controls (NYSE:JCI) reported Q2 EPS of $0.56, ahead consensus estimates of $0.55 per share. Revenues for the quarter rose 22% year-over-year to $10.1 billion, topping consensus estimates of $9.4 billion.
The company sees 2011 revenues of $39.5 billion, vs. consensus estimates of $38.7 billion.
Stephen A. Roell, Johnson Controls Chairman and Chief Executive Officer said, "The second quarter results show solid momentum across all three of our businesses, with each achieving significantly higher revenues and profitability. The backlog in Building Efficiency grew to record levels as a result of continued market share gains and our strong position in the emerging markets. Power Solutions benefitted from aftermarket battery demand that exceeded our expectations and Automotive Experience revenues outpaced industry production with the launch of 18 major new programs."