Johnson Controls, Inc. (JCI) Misses Q2 EPS by 1c

Johnson Controls, Inc. (NYSE: JCI) reported Q2 EPS of $0.64, $0.01 worse than the analyst estimate of $0.65. Revenue for the quarter came in at $10.5 billion versus the consensus estimate of $10.68 billion.

Portfolio update:

On April 16, 2014, Johnson Controls announced a definitive agreement to purchase Air Distribution Technologies, one of the strongest and largest independent providers of air distribution and ventilation products in North America, for $1.6 billion. The transaction, which is forecast to close in July 2014 subject to required regulatory approvals, is expected to significantly expand Johnson Controls' third party distribution channels and create cross-selling opportunities for existing and new products.

The Company said it believes it is on target to close the sale of its Automotive Electronics business by the end of its 2014 fiscal year and that the review of strategic options for its Automotive Interiors business is continuing.

For earnings history and earnings-related data on Johnson Controls, Inc. (JCI) click here.

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