Johnson Controls stocks increased to $31.72 after forecasting revenue growth

Article by Christian Andrei, on October 14, 2011

Johnson Controls Inc., the biggest automobile supplier in the United States, gained 5.2 percent after predicting per-share profit and revenue growth for the 2012 fiscal year. On Wednesday, Johnson Controls stocks increased to $31.72 at the close in New York. The company's share has fallen 17 percent this year.

Profit per share during the year ended September 30, 2012, will be $2.85 to $3, including 9 cents to finance pensions and combine a lithium-ion battery partnership -- an increase of around 23 percent from fiscal year 2011. The average approximation of 22 analysts that Bloomberg has interviewed is for a profit of $3.11 a share, not including the one-time items.

Analyst David Leiker from Milwaukee-based Robert W. Baird & Co. commented that the guidance of at least 20 percent earnings growth "is much better" compared with what is priced into the stock. Sales will be around $44.2 billion, in comparison with the average estimate of 20 analysts of $44.6 billion, Johnson Controls revealed on Wednesday prior to its investor day conference in New York.

Profit per share during the quarter ended September 30 improved to 75 cents, not including some costs, in comparison with 60 cents a year earlier, Johnson Controls stated in an initial earnings statement. The average estimate of 21 analysts as surveyed by Bloomberg was for a profit of 78 cents a share. Sales in the quarter were $10.7 billion, in contrast with an average estimate of $10.5 billion. [source: Autonews]

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