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Johnson Controls Withdraws FY20 Outlook Amid COVID-19 - Quick Facts

While reporting financial results for the second quarter on Friday, Johnson Controls International plc (JCI) said it is withdrawing its previously communicated fiscal year 2020 guidance, as a result of the challenging and uncertain macro environment attributable to the impact the novel coronavirus (COVID-19) pandemic.

However, the company provided a framework related to the second half of the fiscal year. It expects organic revenue decline of 15 to 20 percent.

The company suspended its share repurchase program in mid-March, but maintained its quarterly dividend.

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