Benzinga | Nov 5, 2021 11:43AM EDT

Johnson Controls Manages To Top Q4 Estimates

* Johnson Controls International PLC (NYSE:JCI) reported fourth-quarter FY21 sales growth of 7.4% year-on-year, to $6.39 billion, beating the analyst consensus of $6.38 billion. Sales improved 5% organically.

* Gross profit rose 10.9% Y/Y to $2.2 billion. Adjusted EBIT was $827 million, and adjusted EBIT margin flat at 12.9%.

* Adjusted EPS of $0.88 beat the analyst consensus of $0.87.

* Johnson Controls generated a Q4 operating cash flow of $529 million and held $1.3 billion in cash and equivalents.

* "Although supply chain disruptions and inflation headwinds are expected to continue near term, I am excited and encouraged by the pace of demand in many of our end markets and our record backlogs, both of which position us well for fiscal 2022," said CEO George Oliver.

* Outlook: Johnson sees FY22 adjusted EPS of $3.22 - $3.32, above the consensus of $2.83. Organic revenue growth of mid-to-high single digits year-over-year.

* The company sees a Q1 adjusted EPS of $0.52 - $0.54, against the consensus of $0.53. Organic revenue up mid-single digits year-over-year.

* Price Action: JCI shares are trading higher by 0.24% at $73.98 on the last check Friday.