JCI Q1 Revenues Rise 4 Per Cent.
JCI Revenues Rise 4 Per Cent – Johnson Controls first quarter revenues have hit $US6B, with organic growth up 9 per cent.
Total EBITDA was $792 million with net income at $118 million for the quarter. The results were in line with the high end of the company’s expectations and looking ahead, the company has a record order backlog of $11.3 billin, which is 11 per cent higher than last year.
Johnson Controls is the parent of security and fire brands are DSC, Tyco, American Dynamics, Kantech, Visonic, Software House, Exacq, Simplex, and Grinnell.
“Johnson Controls delivered solid first quarter results,” said George Oliver, chairman and chief executive officer.
“Our momentum remains strong, and we are uniquely positioned to accelerate growth across our service-based businesses and expand our digital solutions through our innovative OpenBlue platform. Our unique offerings enable us to lead the future of smart, healthy and sustainable buildings.
JCI Revenues Rise 4 Per Cent
According to JCI’s CFO, Olivier Leonetti, future earnings look strong.
“Our earnings results came in at the high end of our guidance as we executed on our higher margin backlog, delivered on our productivity initiatives and improved our operational execution,” said Leonetti.
“Our pipeline remains robust, and we are well positioned to capture tailwinds across our vectors of growth and deliver strong financial performance.”
In North America, sales in the quarter were $2.4 billion, an increase of 10 per cent versus the prior year. Organic sales in the U.S. increased 10 per cent over the prior year led by continued growth in the company’s installation business, including low double-digit growth in both retrofit and new construction. North American backlog at the end of the quarter was $7.5 billion, up 16 per cent compared to the prior year.
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“Our momentum remains strong, and we are uniquely positioned to accelerate growth across our service-based businesses and expand our digital solutions.”
George Oliver, JCI.
