Dec. 1, 2015, 7:03 AM
- Johnson Controls (NYSE:JCI) projects sales will increase 4% to $38.6B in 2016.
- The company sees EPS of $3.70 to $3.90 with margins solidly higher in the Automotive Experience, Building Efficiency, and Power Solutions segments.
- The spinoff of the automotive business is still on target to occur on October 3, 2016.
- Strategic Review and 2016 Outlook Annual financial analysts meeting webcast
Nov. 18, 2015, 9:51 AM
- Johnson Controls (NYSE:JCI) declares $0.29/share quarterly dividend, 11.5% increase from prior dividend of $0.26.
- Forward yield 2.6%
- Payable Jan. 5; for shareholders of record Dec. 11; ex-div Dec. 9.
Oct. 31, 2015, 12:51 PM
- The European Automobile Manufacturers Association issued a statement this week in which it forecasts that a "substantial number" of diesel models will have to be phased out earlier than anticipated.
- The harsh assessment was mirrored by several heavyweight CEOs at the Tokyo Motor Show. The major focus of the event has been next-gen concepts like hydrogen-powered cars and self-driving features, while execs such as Nissan's Carlos Ghosn have marginalized the future of diesel.
- Many automobile industry insiders have noted that diesel was in decline due to the focus on emissions even before Volkswagen (OTCQX:VLKAY) rocked the industry with a cheating scandal.
- The mix of technology, EV, hydrogen, and powertrain changes have kept analysts buzzing over the proper valuations to assign to major players. A reset of demand expectations in China also factors in significantly.
- Automobile industry stocks: DAN, BWA, MTOR, TRW, FDML, DLPH,GNTX, SMP, AXL, MPAA, ALV, MOD, DLPH, VC, THRM, WPRT, GM, F, TM, FCAU, HMC, OTCPK:NSANY, TSLA, OTCQX:VLKAY, OTCPK:DDAIF, OTC:HYMLF, OTCPK:BAMXY, TTM, TSLA, THRM, BWA, JCI, TEN, CPS, LDL, TOWR, OTCPK:PEUGF, OTC:RNSDF, OTCPK:RNLSY.
- Previously: Hydrogen and self-driving cars the talk at the Toyota Motor Show (Oct. 29)
Oct. 29, 2015, 7:08 AM
- Johnson Controls (NYSE:JCI): FQ4 EPS of $1.04 beats by $0.03.
- Revenue of $8.75B (-12.1% Y/Y) misses by $40M.
Oct. 28, 2015, 5:30 PM
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Oct. 19, 2015, 6:28 PM
- Johnson Controls (NYSE:JCI) reportedly plans to invest $200M to expand its start-stop battery production in China, where the use of such fuel-saving systems in vehicles lags behind Western countries.
- The planned facility in Shenyang is expected to begin production in 2018, with capacity of 6M units/year, boosting JCI's annual output in China to 20M, says VP Kenneth Yeng of JCI's Power Solutions China.
- Yang predicts 49M vehicles equipped with the start-stop system - which shuts down the engine when a driver stops the car with the brake and thus reduces fuel consumption when the car is idling - will hit the global market in 2020, with 40% of new cars in China built with the technology.
Oct. 6, 2015, 3:00 PM
- Johnson Controls (JCI -0.2%) is in talks to acquire battery maker EnerSys (ENS +5.6%), as JCI tries to reshape itself in an effort to boost profitability, WSJ reports.
- Terms are not known, but with a ~$2.7B market cap, a sale of ENS could value the company at well north of $3B given a typical takeover premium.
- CEO Alex Molinaroli has been trying to steer JCI away from low-margin automotive markets to become a more-profitable “multi-industrial” company; its battery business is one of its best-performing units, with a FQ3 operating margin of 15.9% and a 22% increase in operating income from last year to $234M.
Sep. 22, 2015, 10:16 AM
- The automobile parts sector is down again to follow a rout of European automaker stocks earlier in the day led by the dismantling of shares of scandal-ridden Volkswagen.
- Losing business from Volkswagen is one concern, but a broader issue could be tighter emissions testing and compliance protocols in the industry.
- Decliners include Tenneco (TEN -7.5%), Delphi Automotive (DLPH -4.3%), Allison Transmission Holdings (ALSN -4%), Federal-Mogul Holdings (FDML -4.4%), Lear (LEA -3.3%), Meritor (MTOR -3.8%), Dana Holding (DAN -3.7%), Autoliv (ALV -3.4%), Modine Manufacturing (MOD -2.8%), Standard Motor Products (SMP -2.3%), Stoneridge (SRI -3.6%), American Axle & Manufacturing (AXL -2.5%), and Johnson Controls (JCI -2.3%).
- Previously: Volkswagen -35% in two-day drubbing after cheating scandal (Sep. 22 2015)
Sep. 18, 2015, 8:15 AM
- Johnson Controls (NYSE:JCI) will cut its workforce by as many as 3K workers.
- The job eliminations, which will be spread over two years, will represent up to 2.5% of all the company's employees.
- Cost savings of up to $250M per year are anticipated by the company.
Aug. 12, 2015, 7:37 PM
- Goldman Sachs thinks a China pullback is already priced into many auto stocks, apparently factoring a 40% decline in revenue outside of North America vs. the its outlook for a 2% drop; as a result, the firm upgrades Johnson Controls (NYSE:JCI) and Tenneco (NYSE:TEN).
- JCI is raised to Buy from Neutral with a $60 price target, as Goldman thinks the company should see positive share movement from incremental backlog and orders in its building efficiency business and a potential boost from the recently announced automotive business spinoff.
- TEN is lifted to Neutral from Sell with a $60 target, as Goldman expects a long-term benefit from increased penetration of gasoline direct injection which requires gasoline particulate filters, an area where TEN can leverage its diesel particulate filter expertise.
Jul. 24, 2015, 9:40 AM
Jul. 24, 2015, 8:02 AM
- Johnson Controls (NYSE:JCI): FQ3 EPS of $0.91 in-line.
- Revenue of $9.61B (-2.2% Y/Y) beats by $30M.
Jul. 23, 2015, 5:30 PM
Jul. 22, 2015, 12:50 PM
- Johnson Controls (NYSE:JCI) declares $0.26/share quarterly dividend, in line with previous.
- Forward yield 2.23%
- Payable Oct. 2; for shareholders of record Sept. 4; ex-div Sept. 2.
Jun. 10, 2015, 10:51 AM
- Lennox International (LII +2.3%) shoots up on high volume on reports indicating Johnson Controls (JCI +4.9%) might be interested in acquiring the company.
- Earlier in the day, Johnson Controls announced it will consider strategic options for its automotive business.
- Previously: Johnson Controls +6% after announcing strategic review
Jun. 10, 2015, 8:11 AM
- Johnson Controls (NYSE:JCI) announces it will consider alternatives for the separation of its automotive business.
- Goldman Sachs is assisting the company with its strategy review.
- JCI +6.40% premarket to $54.85.
Johnson Controls, Inc. is a global diversified technology and industrial business company. It operates through three business segments: Building Efficiency, Automotive Experience and Power Solutions. The Building Efficiency segment engages in designing, producing, marketing and installing... More
Sector: Consumer Goods
Industry: Auto Parts
Country: United States
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