Johnson Controls logs 3% hike in revenues for quarter ended June 30

Article by Christian A., on July 25, 2014

Johnson Controls Inc. posted a 3-percent surge in revenues in the quarter ended June 30, 2014 to $10.8 billion, thanks to growing demand for its car seats. The supplier’s automotive business has been booming, thanks to strong demand in China, which accounted for around 32 percent of the division's $5.7 billion in revenue in the period.

However, the company saw its revenues from its cooling and heating systems business drop 4 percent in the third quarter, no thanks to lower demand from the Middle East and North America.

Johnson Controls said it expected its cooling and heating systems business to return to growth in the current quarter ending Sept. 30, 2014, bannered by a low single-digit revenue gain.

Chief Executive Alex Molinaroli said in a statement that the overall non-residential heating ventilation and air conditioning markets remain challenged, although the supplier is beginning to experience more demand in certain vertical markets.

Johnson Controls expects earnings of $1.00-$1.02 per share for the current quarter. According to Thomson Reuters I/B/E/S, analysts on average were forecasting $1.01 per share of the three months ended Sept. 30, 14. Excluding items, Johnson Controls posted 84 cents per share in earnings in the third quarter ended June 30, 2014.

If you liked the article, share on:

Comments

Recommended

The Chinese market will soon be getting the exclusive China-only model, Mercedes-Benz GLC-L, for a premium of 15,000 yuan ($2,300) more than the regular model. The difference is actually quite...
by - January 20, 2018
The Bentley Bentayga is set to participate in the famous Pikes Peak International Hill Climb that is slated to take place on June 24th in Colorado. The automaker’s motorsport department...
by - January 19, 2018
Infiniti will commence sales of the new 2019 Infiniti QX50 in the spring, with a starting price of $36,550. But before the big launch, Infiniti has introduced a new reservation...
by - January 18, 2018
BMW fans may be surprised with what the car manufacturer’s boss Robert Irlinger said in a recent interview with Autocar during a recent media meeting. And this is the fact...
by - January 18, 2018
Currently, there aren’t any Lexus convertibles out in the market, but it seems like it won’t be too long until we see one again. This is because Toyota’s premium brand...
by - January 18, 2018
Facebook

Youtube Channel

Tip Us
Do you have a tip for us?
Did you film an important event?
Contact us
Newsletter
Subscribe to our newsletter!
Subscribe
Galleries