Benzinga | Sep 8, 2021 06:52AM EDT

Johnson Controls Reaffirms Q4 And FY21 Guidance And Announces 3-Year Financial Targets

FISCAL Q4 AND FULL-YEAR GUIDANCE REAFFIRMED

The company reaffirmed fiscal Q4 and 2021 full-year guidance:

* Organic revenue growth up mid-single digits year-over-year for both Q4 and the full year

* Adjusted segment EBITA margin expansion of 30 basis points, year-over-year for Q4; full-year expansion of 80 to 90 basis points

* Adjusted EPS before special items of $0.86 to $0.88, represents 13% to 16% growth year-over-year for Q4; $2.64 to $2.66; represents 18% to 19% full-year growth

* Free cash flow conversion of ~105% for the full year

NEW THREE-YEAR FINANCIAL TARGETS

The company announced three-year financial targets through fiscal 2024:

* 6% to 7% revenue CAGR

* 250 to 300 basis points of segment EBITA margin expansion

* 18% to 21% EPS CAGR 100% free cash flow conversion