Johnson Controls beats by $0.01, reports revs in-line; guides Q4 EPS in-line
Reports Q3 (Jun) earnings of $0.84 per share, excluding non-recurring items, $0.01 better than the Capital IQ Consensus Estimate of $0.83; revenues rose 3.0% year/year to $10.81 bln vs the $10.85 bln consensus.
- Co issues in-line guidance for Q4, sees EPS of $1.00-1.02 vs. $1.01 Capital IQ Consensus Estimate.
- Automotive Experience revenues from continuing operations in the fiscal third quarter of 2014 were $5.7 bln, up 7 percent compared to the 2013 quarter, reflecting higher automotive production in all geographic regions.
- Guidance: The company also reaffirmed its full fiscal year guidance for free cash flow of $1.6 bln and segment margin improvements in all three of its businesses. The updated guidance assumes that underlying earnings from the recently announced Air Distribution Technologies acquisition are not material in the fourth quarter.