Johnson Controls reports record fiscal third quarter earnings from continuing operations; Announces planned tax-free spin-off of its Automotive Experience business

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Go back to Johnson Controls reports record fiscal third quarter earnings from continuing operations; Announces planned tax-free spin-off of its Automotive Experience business

Johnson Controls (JCI) Reports In-Line Q3 EPS; Will Spin Automotive Experience Business

July 24, 2015 8:01 AM EDT

Johnson Controls (NYSE: JCI) reported Q3 EPS of $0.91, in-line with the analyst estimate of $0.91. Revenue for the quarter came in at $9.61 billion versus the consensus estimate of $9.58 billion.

Johnson Controls announced today that it plans to pursue a tax-free spin-off of its Automotive Experience business. Following the separation, which is expected to close in approximately 12 months, the Automotive Experience business will operate as an independent, publicly traded company.

Once the transaction is completed, Bruce McDonald, Johnson Controls vice chairman and... More