Johnson Controls (JCI) Tops Q2 Earnings Estimates

Group 1: Earnings Performance - Johnson Controls reported quarterly earnings of $0.78 per share, exceeding the Zacks Consensus Estimate of $0.75 per share, and up from $0.75 per share a year ago, representing an earnings surprise of 4% [1] - The company posted revenues of $6.7 billion for the quarter ended March 2024, which was 0.76% below the Zacks Consensus Estimate and slightly down from $6.69 billion year-over-year [1] - Over the last four quarters, Johnson Controls has surpassed consensus EPS estimates two times but has not beaten consensus revenue estimates [1] Group 2: Stock Performance and Outlook - Johnson Controls shares have increased by approximately 12.9% since the beginning of the year, outperforming the S&P 500's gain of 5.6% [2] - The company's earnings outlook is crucial for future stock movements, with a strong correlation between near-term stock movements and trends in earnings estimate revisions [3] - The current consensus EPS estimate for the upcoming quarter is $1.12 on revenues of $7.47 billion, and for the current fiscal year, it is $3.61 on revenues of $27.72 billion [4] Group 3: Industry Context - The Security and Safety Services industry, to which Johnson Controls belongs, is currently ranked in the top 17% of over 250 Zacks industries, indicating a favorable industry outlook [5] - Another company in the same industry, Axon Enterprise, is expected to report quarterly earnings of $0.97 per share, reflecting a year-over-year increase of 10.2%, with revenues anticipated to be $437.52 million, up 27.5% from the previous year [6]