Johnson Controls (NYSE: JCI) reported Q2 EPS of $0.50, $0.01 better than the analyst estimate of $0.49. Revenue for the quarter came in at $7.2 billion versus the consensus estimate of $7.08 billion.

Johnson Controls increases share repurchase program by $500 million.

• GAAP loss of $0.16 per share driven by non-cash tax charge and other special items
• Adjusted EPS from continuing operations of $0.50, up 11 percent versus prior year
• Adjusted sales of $7.2 billion, reflecting organic growth of 2 percent versus prior year
• Adjusted EBIT margin expansion of 20 basis points year-over-year, to 9.8 percent
• Third quarter adjusted EPS from continuing operations guidance of $0.70 to $0.73, an increase of 15 percent to 20 percent year-over-year
• 2017 adjusted EPS from continuing operations guidance range tightened to $2.60 to $2.68, a 13 percent to 16 percent increase year-over-year

GUIDANCE:

Johnson Controls sees FY2017 EPS of $2.60-$2.68, versus the consensus of $2.64.

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