Johnson Controls Sets Targets For Fiscal 2017 And Beyond

By Ciara Linnane Markets MarketWatch Pulse

Johnson Controls Inc. , which completed its merger with Tyco in September, on Monday set targets for fiscal 2017 and beyond, setting guidance for adjusted per-share earnings at $2.60 to $2.75, compared with a pro forma adjusted EPS of $2.31 for fiscal 2016. "We are well positioned as a market leader to accelerate growth in our core buildings and energy businesses," Chief Executive Alex Molinaroli said in a statement. The industrial company is targeting fiscal 2020 adjusted EPS growth of 12% to 15%. It is targeting an organic revenue compound average growth rate of 3% to 4%, including $500 million in run-rate sales synergies, it said. It expects EBIT growth of 40% to 55% before special items, with 300 to 380 basis points of margin expansion. Shares were not yet active in premarket trade, but are up 52% in the year to date, while the S&P 500 has gained 7.2%.

Continue Reading Below

Copyright © 2016 MarketWatch, Inc.