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Johnson Controls Re-initiates FY20 Adj. EPS Outlook, Above Estimates - Quick Facts

While reporting financial results for the third quarter on Friday, Johnson Controls International plc (JCI) provided adjusted earnings and organic revenue growth guidance for the fourth quarter and re-initiated adjusted earnings outlook for the full-year 2020.

For the fourth quarter, the company projects adjusted earnings in a range of $0.68 to $0.72 per share on organic revenue decline of 9 to 11 percent.

On average, analysts polled by Thomson Reuters expect the company to report earnings of $0.65 per share on a revenue decline of 20.5 percent to $5.44 billion for the quarter. Analysts' estimates typically exclude special items.

Looking ahead to fiscal 2020, the company re-initiated adjusted earnings guidance in the range of $2.16 to $2.20 per share, representing a year-over-year increase of 10 to 12 percent. The Street is looking for earnings of $1.93 per share on a revenue decline of 9.7 percent to $21.64 billion for the year.

The company had withdrawn its previously communicated fiscal year 2020 guidance in early May, as a result of the challenging and uncertain macro environment attributable to the impact the novel coronavirus (COVID-19) pandemic.

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