Johnson Controls Guidance Mostly In-Line

Johnson Controls, a diversified industrial company that makes buildings and vehicles more comfortable, safe and sustainable, says it expects fiscal 2008 diluted earnings per share growth of 18% to $2.40 to $2.50 and see sales increasing by 10% to around $38 billion. Analysts had forecast $2.50 on sales of $36.9B. Johnson Controls also reiterated its fiscal Q4 guidance for EPS of $0.77 to $0.78, compared to analysts' average estimate of $0.78. Full year adjusted earnings are expected to be in the range of $2.08 to $2.10. Analysts expect $2.10, on average. In a statement, CEO Stephen A. Roell commented, "Johnson Controls near-term sales growth will be driven by a combination of our participation in growing markets and our ability to increase our market shares." Johnson Controls reports fiscal Q4 and full year results on Oct. 23. The company said its latest forecasts reflect its 3-for-1 stock split on Oct. 2. Shares of Johnson Controls lost 1.2 % to $40.19 on Monday and were last down about 0.4% to $40.01 in thin pre-market trading.

Sources: Press release, MarketWatch
Commentary: Johnson Controls: A Superstar Dividend Payer • Four Energy Efficiency Stocks For a Cool Summer • Johnson Controls: Goldman's Bullish Call Should Generate Buy Interest
Stocks/ETFs to watch: JCI. Competitors: LEA, XIDE
Earnings call transcript: Johnson Controls F3Q07

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