Johnson Controls International plc (JCI) shares surged 5.73% in pre-market trading Wednesday after the company delivered fiscal third-quarter results that comfortably exceeded Wall Street expectations and raised its full-year outlook.
The company reported adjusted earnings per share of $1.42, easily beating the consensus estimate of $1.30. Revenue came in at $6.6 billion, also above the $6.467 billion that analysts had projected. Net income for the quarter reached $749 million.
Bolstering investor confidence, Johnson Controls issued an optimistic forecast, guiding for fourth-quarter adjusted EPS of $1.55 versus the $1.53 estimate, along with organic sales growth of 9-10%. For the full fiscal year, the company raised its organic sales growth guidance to approximately 8% and adjusted EPS to around $5.05.