Johnson Controls International Plc (JCI)

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.