Building operations company Johnson Controls (NYSE: JCI) will be reporting results this Wednesday before market hours. Here’s what investors should know.
Johnson Controls beat analysts’ revenue expectations last quarter, reporting revenues of $5.80 billion, up 6.8% year on year. It was a very strong quarter for the company, with a solid beat of analysts’ organic revenue estimates and a solid beat of analysts’ revenue estimates.
Is Johnson Controls a buy or sell going into earnings? Read our full analysis here, it’s free for active Edge members.
This quarter, the market is expecting Johnson Controls’s revenue to grow 6.7% year on year, improving from the 1.4% increase it recorded in the same quarter last year.
The majority of analysts covering the company have reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. Johnson Controls has missed Wall Street’s revenue estimates multiple times over the last two years.
Looking at Johnson Controls’s peers in the commercial building products segment, some have already reported their Q1 results, giving us a hint as to what we can expect. Apogee delivered year-on-year revenue growth of 1.6%, beating analysts’ expectations by 4.7%, and AZZ reported revenues up 9.4%, topping estimates by 0.7%. Apogee traded up 5.2% following the results while AZZ was also up 8.7%.
Read our full analysis of Apogee’s results here and AZZ’s results here.
There has been positive sentiment among investors in the commercial building products segment, with share prices up 7.6% on average over the last month. Johnson Controls is up 9.2% during the same time and is heading into earnings with an average analyst price target of $144.86 (compared to the current share price of $146.00).
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