Stock Monitor: China Zenix Auto Intl. Post Earnings Reporting

LONDON, UK / ACCESSWIRE / May 23, 2018 / If you want access to our free earnings report on Johnson Controls International PLC (NYSE: JCI) ("Johnson Controls"), all you need to do is sign up now by clicking the following link www.active-investors.com/registration-sg/?symbol=JCI. The Company reported its second quarter fiscal 2018 operating and financial results on May 01, 2018. The diversified technology and multi-industrial leader reported better than expected revenue and earnings results. Additionally, the Company reiterated its guidance for adjusted earnings for FY18. Register today and get access to over 1,000 Free Research Reports by joining our site below:

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Active-Investors.com is currently working on the research report for China Zenix Auto International Limited (NYSE: ZX), which also belongs to the Consumer Goods sector as the Company Johnson Controls Intl. Do not miss out and become a member today for free to access this upcoming report at:

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Active-Investors.com is focused on giving you timely information and the inside line on companies that matter to you. This morning, Johnson Controls International most recent news is on our radar and our team decided to put out a fantastic report on the company that is now available for free below:

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Earnings Highlights and Summary

For the second quarter of the fiscal year 2018, Johnson Controls' sales increased 3% to $7.48 billion compared to $7.24 billion in Q2 FY17. The Company's revenue numbers topped analysts' estimates of $7.45 billion.

During Q2 FY18, Johnson Controls' GAAP earnings before interest and taxes (EBIT) were $676 million, and its EBIT margin was 9.0%. The Company's adjusted EBIT were $740 million, and its adjusted EBIT margin was 9.9%, up 10 basis points compared to the prior year's same quarter.

Johnson Controls reported earnings from continuing operations, including special items, of $438 million, or $0.47 per diluted share, in Q2 FY18 compared to a GAAP net loss of $148 million, or $0.16 loss per diluted share, in Q2 FY17. Excluding special items, the Company's adjusted diluted earnings per share (EPS) from continuing operations were $0.53, up 6% versus $0.50 in the prior year's comparable quarter, and ahead of Wall Street's estimates of $0.52.

Segment Results

During Q2 FY18, Johnson Controls' Building Solutions North America (BSNA) segment's sales rose 1% to $2.10 billion on a y-o-y basis. The segment's orders, excluding M&A and adjusted for foreign currency, increased 4% in the reported quarter compared to the year ago corresponding period. The BSNA segment's backlog was $5.3 billion at the end of the reported quarter, up 5% on a y-o-y basis. The segment's adjusted earnings before interest, tax, and amortization (EBITA) were $244 million in Q2 FY18, up 7% versus Q2 FY17; while the segment's adjusted EBITA margin increased 60 basis points to 11.6%, driven by cost synergies and productivity savings, as well as a favorable volume/mix.

For Q2 FY18, Johnson Controls' Building Solutions Europe, Middle-East, Africa / Latin America (EMEA/LA) segment's sales totaled $907 million, reflecting an increase of 2% versus the prior year's same quarter. The segment's orders, excluding M&A and adjusted for foreign currency, increased 10% on a y-o-y basis in the reported quarter. The Building Solutions EMEA/LA segment's backlog was $1.7 billion at the end of the reported quarter, increasing modestly on a y-o-y basis. For Q2 FY18, the segment's adjusted EBITA were $78 million, down 1% on a y-o-y basis, while the segment's adjusted EBITA margin declined 30 basis points to 8.6% versus Q2 FY17.

Johnson Controls' Building Solutions Asia/Pacific (BSAP) segment's sales rose 4% to $586 million on a y-o-y basis in Q2 FY18. The segment's orders, excluding M&A and adjusted for foreign currency, increased 10% y-o-y in the reported quarter. The BSAP segment's backlog was 15% higher at $1.5 billion on a y-o-y basis at the end of the reported quarter. The segment's adjusted EBITA were $71 million, up 6% on a y-o-y basis, while its adjusted EBITA margin expanded 20 basis points to 12.1% versus the prior year's comparable quarter.

During Q2 FY18, Johnson Controls' Global Products segment's sales were $2.0 billion, representing a growth of 1% versus the prior year's corresponding quarter. The segment's adjusted EBITA were $237 million, down 6% on a y-o-y basis, primarily attributable to the impact of the Scott Safety divestiture. The segment's adjusted EBITA margin declined 100 basis points to 11.6% versus Q2 FY17, including a 120-basis point headwind related to the divestiture of the Scott Safety business.

For Q2 FY18, Johnson Controls' Power Solutions segment's sales jumped 9% to $1.85 billion on a y-o-y basis. The segment's global original equipment battery shipments declined 2%, in-line with overall market demand; and aftermarket shipments declined 6%, driven primarily by weather impacts in the US and Europe. The segment's start-stop battery shipments increased 14% on a y-o-y basis, led by a growth in China and the Americas. For the reported quarter, the Power Solutions segment's adjusted EBITA were $314 million, up 4% compared to the year ago same period, while its adjusted EBITA margin decreased 90 basis points to 17.0% compared to Q2 FY17, including a 60-basis point headwind related to the impact of foreign currency and lead prices.

Cash Matters

Johnson Controls' cash from operating activities was $662 million in Q2 FY18 compared to $366 million in Q2 FY17. The Company's adjusted free cash flow was $0.6 billion in the reported quarter and $0.3 billion year-to-date (YTD).

During Q2 FY18, Johnson Controls repurchased 1.3 million shares for approximately $50 million.

Outlook

Johnson Controls re-affirmed its full year FY18 guidance for adjusted EPS from continuing operations in the range of $2.75 to $2.85.

Stock Performance Snapshot

May 22, 2018 - At Tuesday's closing bell, Johnson Controls International's stock declined 1.51%, ending the trading session at $35.19.

Volume traded for the day: 6.52 million shares, which was above the 3-month average volume of 5.05 million shares.

Stock performance in the last month ? up 3.05%

After yesterday's close, Johnson Controls International's market cap was at $33.10 billion.

Price to Earnings (P/E) ratio was at 14.33.

The stock has a dividend yield of 2.96%.

The stock is part of the Consumer Goods sector, categorized under the Auto Parts industry.

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