Johnson Controls Issues FY Guidance; Targets Organic Revenue Growth Of 2.5-4.5%

(RTTNews) - Johnson Controls International, plc (JCI) announced its fiscal 2017 EPS before special items guidance of $2.60 to $2.75 per share, a 13 percent to 19 percent year-over-year increase, compared to the pro forma fiscal 2016 base of $2.31 per share. Guidance includes an organic revenue growth range of 2.5 percent to 4.5 percent and EBIT margin expansion before special items of 80 to 110 basis points.

Johnson Controls also introduced mid-term financial targets covering the fiscal years through 2020: 12 to 15 percent growth in EPS before special items CAGR; 3 to 4 percent growth in organic revenue CAGR including $500 million in run-rate sales synergies; 40 to 55 percent EBIT growth before special items with 300 to 380 basis points of margin expansion; approximately $1 billion of productivity/merger cost savings plus $150 million of tax synergies; and FCF conversion target of 90 percent+ before special items.

The board of Johnson Controls approved a quarterly cash dividend payment of $0.25 per share payable on Jan. 6, 2017, to shareholders of record as of the close of business on Dec. 14, 2016.