Johnson Controls Q1 Profit Rises; Reaffirms FY15 EPS Guidance - Quick Facts

(RTTNews) - Johnson Controls, Inc., (JCI) a global multi-industrial company, reported first-quarter net income from continuing operations of $546 million or $0.76 per share, compared to $484 million or $0.66 per share, prior year.

On average, 20 analysts polled by Thomson Reuters expected the company to report profit per share of $0.77 for the quarter. Analysts' estimates typically exclude special items.

Net sales increased 1% to $10.67 billion from $10.57 billion last year. Excluding the effect of currency translation, sales increased 5 percent. Analysts expected revenue of $10.67 billion for the quarter.

Alex Molinaroli, Johnson Controls CEO said: "Profitability improved significantly in the quarter, as we benefitted from higher volumes and our continuing focus on execution improvements. The results in the quarter are better than the expectations we provided at our analyst day in December."

Johnson Controls expects earnings per share of $0.74 - $0.76 in the second quarter of fiscal 2015. Analysts expect the company to report second-quarter earnings per share of $0.76.

The company reaffirmed its guidance of $3.55 - $3.70 for fiscal 2015. Analysts expect the company to report full year earnings per share of $3.60.