Johnson Controls Q2 Sales Miss Estimates by $2 Billion Despite Adjusted EPS Beat
JCI sits 66% above its 52-week low of $87.31.
Summary
Johnson Controls reported mixed second-quarter results, with adjusted EPS of $1.19 beating the IBES estimate of $1.12. However, the company's Q2 sales significantly missed expectations, coming in at $4.121 billion against an IBES estimate of $6.076 billion. While Q3 adjusted EPS guidance was in line with estimates at $1.28, the full-year adjusted EPS outlook of $4.85 surpassed the IBES estimate of $4.76. The substantial sales miss is a material concern for a company of this size, potentially overshadowing the positive adjusted EPS and full-year guidance beats and warranting close attention from traders. Investors will be watching how the market reacts to the significant revenue shortfall despite the profitability and forward guidance.
At the time of this announcement, JCI was trading at $145.21 on NYSE in the Industrial Applications And Services sector, with a market capitalization of approximately $88.6B. The 52-week trading range was $87.31 to $147.32. This news item was assessed with neutral market sentiment and an importance score of 8 out of 10. Source: Reuters.