MILWAUKEE (dpa-AFX) - (Adds Outlook)
Johnson Controls Inc (JCI) reported a profit for first quarter that decreased from the same period last year in line with the Street estimates.
The company's bottom line came in at $118 million, or $0.17 per share. This compares with $381 million, or $0.54 per share, in last year's first quarter.
Excluding items, Johnson Controls Inc reported adjusted earnings of $463 million or $0.67 per share for the period.
Analysts on average had expected the company to earn $0.67 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.
The company's revenue for the quarter rose 3.6% to $6.07 billion from $5.86 billion last year.
Outlook:
For the second quarter, the company expects adjusted EPS before special items to be $0.72 to $0.74, a 15%-18% growth from last year.
19 analysts on average polled by Thomson Reuters expect the company to report earningss of 74 cents a share for the second quarter.
For the full year, Johnson Controls sees earnings excluding items of $3.30 to $3.60 per share, a 10% to 20% growth year-over-year.
Analysts, on average, estimate the company to record earnings of $3.52 per share for the full year.
Johnson Controls Inc Q1 earnings at a glance (GAAP) :
-Earnings (Q1): $118 Mln. vs. $381 Mln. last year. -EPS (Q1): $0.17 vs. $0.54 last year. -Analyst Estimates: $0.67 -Revenue (Q1): $6.07 Bln vs. $5.86 Bln last year.
-Guidance: Next quarter EPS guidance: $0.72 to $0.74 Full year EPS guidance: $3.30 to $3.60
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