Johnson Controls forecasts record year

Johnson Controls Inc. announced it expects to post record sales and earnings in fiscal 2012.
The company is presenting its fiscal 2012 forecast to financial analysts in New York.
Highlights include: consolidated net sales of approximately $44.2 billion, up 9 percent; diluted earnings per share of $2.85 to $3.00, up approximately 20 percent; and 9 cents per share negative impact associated with pension funding and advanced battery JV consolidation.
The Glendale-based company forecasts sales and margin improvements in all three of its businesses: Automotive Experience, Power Solutions and Building Efficiency.
From a market perspective, Johnson Controls said it expects higher 2012 automotive production in North America and China, with relatively flat European production vs. 2011. The global Building Efficiency market is forecast to improve slightly in 2012, as strong growth in the emerging markets, especially China and the Middle East, offset softness in mature geographic markets.
Johnson Controls said it is positioned to grow faster than its underlying markets with improved profitability over the long term.
"Johnson Controls entered fiscal 2012 with record backlogs in our automotive and buildings businesses. Our aftermarket battery business continues to grow and gain market share globally. In addition, we are benefitting from new growth platforms resulting from the investments we have made," said Stephen Roell, chairman and chief executive officer of Johnson Controls. "While we recognize the challenges of the near-term global economy, we believe our unique strengths will enable Johnson Controls to deliver higher sales and double-digit earnings improvements in 2012."
Building Efficiency revenues are expected to increase by 9 to 11 percent in 2012 due to strong backlogs, a moderate improvement in service and the continued growth of it energy efficiency and Global Workplace Solutions businesses.
The company forecasts approximately 6 percent revenue growth in 2012 by its Automotive Experience business, reflecting higher global production volumes and approximately $1.4 billion in new program launches, partially offset by the negative impact of a weaker Euro.
At the meeting, Johnson Controls said it expects to report 2011 fourth quarter revenues of approximately $10.7 billion and earnings of 75 cents per diluted share, excluding non-recurring items. The company will release its 2011 fourth quarter results on Oct. 27.

Sign up for BizTimes Daily Alerts

Stay up-to-date on the people, companies and issues that impact business in Milwaukee and Southeast Wisconsin

No posts to display