Johnson Controls beats by $0.01, reports revs in-line; guides Q2 EPS below consensus; reaffirms FY17 EPS guidance (43.98)
- Reports Q1 (Dec) earnings of $0.53 per share, $0.01 better than the Capital IQ Consensus of $0.52; revenues rose 51.1% year/year to $7.1 bln vs the $7.16 bln Capital IQ Consensus which may not be comparable.
- Co issues downside guidance for Q2, sees EPS of $0.48-0.50, excluding non-recurring items, vs. $0.53 Capital IQ Consensus Estimate.
- Co reaffirms guidance for FY17, sees EPS of $2.60-2.75, excluding non-recurring items, vs. $2.68 Capital IQ Consensus Estimate.
- "First quarter results represent a solid start to the year as we begin executing against our 2017 "Integration activities are well underway and we expect the benefits of the combination will continue to ramp as the year progresses. Our strong first quarter performance, growing backlog in Buildings and continued favorable mix in Power, make us confident in our adjusted EPS guidance range of $2.60 to $2.75 for the year," Molinaroli continued