Johnson Controls beats by $0.29, reports revs in-line (37.50)
- Reports Q2 (Mar) earnings of $0.59 per share, excluding non-recurring items, $0.29 better than the S&P Capital IQ Consensus of $0.30; revenues rose 2.6% year/year to $5.78 bln vs the $5.79 bln S&P Capital IQ Consensus.
- On April 30, 2019, co closed the previously announced sale of the Power Solutions business to Brookfield Business Partners for net cash proceeds of approximately $11.6 bln.
- Co announced plans to launch a "modified Dutch auction" tender offer in the coming days for up to $4.0 bln of its ordinary shares with a price range between $36.00 and $40.00 per share.
- Co announced that it has commenced a cash tender offer to purchase up to $1.5 billion in aggregate principal amount of certain of its outstanding notes