Why Johnson Controls Shares Are Slipping Today
Portfolio Pulse from Nabaparna Bhattacharya
Johnson Controls International Plc (NYSE:JCI) reported Q3 FY23 sales growth of 7.8% YoY to $7.13 billion, missing the consensus of $7.19 billion. Adjusted EPS of $1.03 was in line with the analyst consensus. The company held $1.06 billion in cash and equivalents as of June 30, 2023. For FY23, the company sees adjusted EPS of $3.55 versus the street view of $3.58. JCI shares traded lower by 6.1% at $65.75 on the last check Wednesday.
August 04, 2023 | 11:20 am
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Johnson Controls reported Q3 FY23 sales growth of 7.8% YoY to $7.13 billion, missing the consensus. Adjusted EPS of $1.03 was in line with the analyst consensus. The company's FY23 adjusted EPS is expected to be $3.55. JCI shares traded lower by 6.1%.
Johnson Controls' Q3 FY23 sales growth missed the consensus, which could have led to the decrease in the company's share price. The company's FY23 adjusted EPS is expected to be lower than the street view, which could further negatively impact the share price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100