Johnson Controls International plc (JCI)

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Why is Johnson Controls International plc (JCI) Stock down?

We've noticed a 7.07% decline in Johnson Controls International plc (JCI) stock during the 2024-05-01 trading session. While this could be attributed to normal volatility or various internal and external factors, please be aware that we are actively monitoring the situation, and we'll provide timely updates as soon as possible!

12 Dec, 2023:

Shares of Johnson Controls International plc (JCI) dropped by 5.97% from $56.57 to $53.19 in the trading on Tuesday, December 12, 2023. The reason why JCI down today is due to its Q4 fiscal 2023 results.

Earnings Miss: JCI reported Q4 fiscal 2023 results, which ended on September 30, 2023. While the company beat adjusted earnings per share estimates with $1.05, its revenue of $7,092 million missed expectations, leading to the stock's decline.
Segmental Performance: Revenues in North America rose by 8.4% year over year to $2,778 million, with strong organic sales growth. EBITA increased by 13% to $427 million. Meanwhile, EBITA in Europe, Middle East, Africa/Latin America and Asia Pacific decreased by 11% each.
Guidance: For Q1 fiscal 2024, JCI expects flat year-over-year organic revenue growth and adjusted earnings of 48 to 50 cents per share, below the Zacks Consensus Estimate of 66 cents per share. In fiscal 2024, JCI anticipates mid-single-digit year-over-year organic revenue growth and adjusted earnings in the range of $3.65 to $3.80 per share, while the Zacks Consensus Estimate stands at $3.94 per share.