Johnson Controls reports double-digit profitability during 2Q

Freeman Staff

April 23, 2015

MILWAUKEE — At the end of its second quarter, Johnson Controls reported it had net income of $529 million on $9.2 billion in revenues.

Johnson Controls, Inc., a global multi-industrial company, reported Thursday that diluted earnings per share in the second quarter were $0.77, up 17 percent compared with $0.66 in the same quarter last year.

As a result of the previously announced sale of its Global Workplace Solutions business, Johnson Controls has reclassified GWS results to discontinued operations and prior year financial statements have been revised accordingly. Net revenue for the second quarter of 2015 was $9.2 billion, a decrease of 3 percent compared to $9.5 billion during the same period in 2014. Excluding the impact of foreign currency, revenues increased 4 percent, according to Thursday’s report.

Income from business segment operations of $698 million compared with $593 million a year ago, up 18 percent, or up 23 percent excluding the impact of foreign currency.

“I am very pleased with our second quarter results. Our businesses showed increased underlying growth and delivered higher margins that we believe are sustainable. We saw broad-based order growth in building efficiency, continuing a trend that we began to see at the end of the first quarter,” said Alex Molinaroli, Johnson Controls chairman and chief executive officer, in a statement. “Despite foreign currency headwinds, profitability increased across the business segments.”