Johnson Controls stocks increased to $31.72 after forecasting revenue growth

Article by Christian A., 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]

If you liked the article, share on:

Comments

Recommended

The 2018 Alfa Romeo Stelvio Quadrofoglio is known as the world’s fastest SUV after proving itself lethal around the Nurburgring with a lap time of 7:51.7. Under its hood is...
by - February 19, 2018
After going through a number of tests in Germany, the BMW 320d was deemed to be fully compliant will all legal requirements by the German Federal Motor Transport Authority (KBA)....
by - February 19, 2018
Finally, another automaker is getting on the SUV bandwagon. About to reveal its very first SUV is Rolls-Royce, which stated that “the wait is almost over” as it prepares to...
by - February 18, 2018
A lot of people question why there is even a 2018 Mercedes-AMG S65, firstly because it costs a lot more than the S63 sedan ($82,500 more) and yet, it is...
by - February 17, 2018
For those of you who are interested to own one of the BMW i8 Roadsters, be ready to spend some serious cash as the convertible that made its debut at...
by - February 16, 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