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Johnson Controls Bottom Line Retreats In Q3; Narrows 2022 Earnings Outlook - Update

(Adds Outlook)

Johnson Controls Inc (JCI) revealed a profit for third quarter that decreased from the same period last year

The company's earnings totaled $379 million, or $0.55 per share. This compares with $574 million, or $0.80 per share, in last year's third quarter.

Excluding items, Johnson Controls Inc reported adjusted earnings of $594 million or $0.85 per share for the period.

The company's revenue for the quarter rose 4.3% to $6.61 billion from $6.34 billion last year.

Outlook:

Johnson Controls slightly narrowed its 2022 adjusted earnings guidance to $2.98-$3.02 a share from $2.95-$3.05, reflecting 6 cents of FX headwinds compared to its earlier view.

Johnson Controls Inc earnings at a glance (GAAP) :

-Earnings (Q3): $379 Mln. vs. $574 Mln. last year.
-EPS (Q3): $0.55 vs. $0.80 last year.
-Revenue (Q3): $6.61 Bln vs. $6.34 Bln last year.

-Guidance:
Next quarter EPS guidance: $0.96 to $1.00
Full year EPS guidance: $2.98 to $3.02

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