Johnson Controls Q2 Profit Rises Despite Revenue Fall - Quick Facts

(RTTNews) - Johnson Controls Inc. (JCI), a global multi-industrial company, Thursday said its second-quarter attributable net income climbed to $529 million, or $0.80 per share from $261 million or 0.39 per share last year.

As a result of the sale of its Global Workplace Solutions or GWS business, the company has reclassified GWS results to discontinued operations. Earnings per share from continuing operations rose to $0.68 from $0.61.

Adjusted earnings per share were $0.77, while it totaled $0.66 last year. On average, 13 analysts polled by Thomson Reuters expected earnings of $0.74 per share for the quarter. Analysts' estimates typically exclude special items.

Net sales fell to $9.198 billion from $9.467 billion in the prior year. Analysts expected revenues of $10.11 billion.

Cost of sales dropped to $7.625 billion from $7.995 billion.

Looking ahead, for the third quarter of 2015, the company provided earnings guidance from continuing operations of $0.90 to $0.92 per share, up 14 to 16 percent. Analysts look for earnings of $0.92 per share.

In December 2014, the company provided full year earnings guidance of $3.55 - $3.70 per share including the GWS contribution of $0.20. With GWS now reported as a discontinued operation, the company expects earnings from continuing operations to be $3.30 to $3.45 per share for fiscal 2015, a year-over-year increase of 10 to 15 percent.

Wall Street looks for earnings of $3.55 for the year.