Johnson Controls reports EPS in-line, beats on revs; guides FY19 EPS in-line
- Reports Q4 (Sep) earnings of $0.93 per share, excluding non-recurring items, in-line with the S&P Capital IQ Consensus of $0.93; revenues rose 2.9% year/year to $8.37 bln vs the $8.28 bln S&P Capital IQ Consensus.
- Co issues in-line guidance for FY19, sees EPS of $2.90-3.05, excluding non-recurring items, vs. $3.03 S&P Capital IQ Consensus. Sees organic revenue growth in the mid-single digits.
- "We are in the final stages of the strategic review of our Power Solutions business. We have assessed multiple options and have made significant progress toward making a final decision. As we look forward to fiscal 2019, we remain focused on driving execution across our portfolio to further enhance our growth trajectory supported by our strong backlog, order momentum and new business wins. We expect our overall financial performance to continue to improve by intensely focusing on top-line growth, margin expansion and free cash flow conversion.