NYSE$JCI
Johnson Controls Inc · Q2 2023 earnings
Q2 2023 earnings · · Investor relations
Briefing
Reported strong second quarter results with double-digit growth in sales and high single-digit order growth, exceeding guidance due to healthy margin expansion, contributing to strong double-digit adjusted EPS growth.
Johnson Controls reported strong Q2 2023 results with a 10% increase in sales compared to the prior year, and adjusted EPS of $0.75, up 19% versus the prior year. The company's order pipeline remains healthy across all vectors of growth, with a record backlog of $11.7 billion, increased 9% organically year-over year.
- Q2 reported sales increased by 10% versus prior year, with a 13% organic increase.
- GAAP EPS for Q2 was $0.19, while adjusted EPS was $0.75, a 19% increase versus prior year.
- Orders for Q2 increased by 8% organically year-over-year.
- Record backlog reached $11.7 billion, a 9% organic increase year-over-year.
Headline financials
Revenue & EPS history
Johnson Controls · Revenue · Quarterly
$6.69B
Forward guidance
The Company initiated fiscal 2023 third quarter guidance and updated its fiscal 2023 full year EPS guidance.
Tailwinds
- Organic revenue growth of ~10% year-over-year
- Adjusted segment EBITA margin improvement of 120 to 130 basis points year-over-year
- Adjusted EPS before special items of $1.01 to $1.03; representing 19% to 21% growth year-over-year
- Organic revenue growth ~10% year-over year (previously guided at a range from high single-digits to low double-digits growth)
- Adjusted segment EBITA margin improvement of 100 to 120 basis points, year-over-year (previously guided to 90 to 120 basis point improvement)
Headwinds
- Adjusted EPS before special items of $3.50 to $3.60; representing 17% to 20% growth year-over-year (previously guided to $3.30 to $3.60)
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 20 quarterly earnings reports · overlaid with Q2 2023
+0.2%
Avg return
Earnings day
+0.5%
Avg return
5 days after
+1.7%
Avg return
30 days after
54%
40 / 74 earnings
Positive
+11.7%
Q4 2022
Best reaction
-12.5%
Q2 2022
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q2 2026 | -1.7% | -4.0% | -0.8% | |
| Q1 2026 | +7.5% | +12.1% | +6.8% | |
| Q4 2025 | +8.9% | +10.4% | +2.9% | |
| Q3 2025 | -0.2% | +0.8% | +1.3% | |
| Q2 2025 | +1.3% | +7.3% | +16.9% | |
| Q1 2025 | +11.3% | +15.8% | +3.6% | |
| Q4 2024 | +9.4% | +15.7% | +12.7% | |
| Q3 2024 | +1.9% | -4.8% | +5.5% | |
| Q2 2024 | -6.6% | -2.6% | +10.5% | |
| Q1 2024 | -7.0% | -3.9% | +4.6% | |
| Q4 2023 | -5.8% | -7.3% | +2.2% | |
| Q3 2023 | -11.4% | -10.7% | -14.6% | |
| Q2 2023 | +7.8% | +6.5% | +6.6% | |
| Q1 2023 | -7.2% | -5.4% | -6.3% | |
| Q4 2022 | +11.7% | +13.6% | +19.3% | |
| Q3 2022 | +1.5% | -0.3% | +1.1% | |
| Q2 2022 | -12.5% | -16.4% | -12.1% | |
| Q1 2022 | -4.7% | -7.8% | -13.0% | |
| Q4 2021 | +0.9% | +3.2% | +5.6% | |
| Q3 2021 | -1.3% | -0.3% | +4.4% | |
| Q2 2021 | +1.0% | +1.9% | +5.2% | |
| Q1 2021 | +3.2% | +2.6% | +13.1% | |
| Q4 2020 | -4.9% | -0.5% | +4.1% | |
| Q3 2020 | +4.5% | +3.0% | +10.9% | |
| Q2 2020 | -2.0% | -2.7% | +7.9% | |
| Q1 2020 | -3.0% | -1.7% | -9.7% | |
| Q4 2019 | -3.9% | -3.8% | -4.8% | |
| Q3 2019 | +1.8% | +0.3% | +3.4% | |
| Q2 2019 | +3.9% | +5.6% | +2.7% | |
| Q1 2019 | +0.1% | +1.0% | +4.5% | |
| Q4 2018 | +2.8% | +4.1% | -2.2% | |
| Q3 2018 | +3.3% | +4.1% | +3.3% | |
| Q2 2018 | +4.3% | +7.0% | -0.9% | |
| Q1 2018 | -0.1% | -5.8% | -9.0% | |
| Q4 2017 | -9.9% | -12.5% | -8.8% | |
| Q3 2017 | -8.5% | -10.5% | -10.4% | |
| Q2 2017 | -3.4% | -3.7% | -2.4% | |
| Q1 2017 | -3.8% | -3.8% | -4.4% | |
| Q4 2016 | +5.5% | +6.2% | +5.0% | |
| Q3 2016 | +5.9% | +5.4% | +4.0% | |
| Q2 2016 | +6.9% | — | — | |
| Q1 2016 | +2.3% | — | — | |
| Q4 2015 | +0.6% | — | — | |
| Q3 2015 | -2.1% | — | — | |
| Q2 2015 | -6.0% | — | — | |
| Q1 2015 | +0.6% | — | — | |
| Q4 2014 | +1.7% | — | — | |
| Q3 2014 | +1.6% | — | — | |
| Q2 2014 | -0.9% | — | — | |
| Q1 2014 | -4.7% | — | — | |
| Q4 2013 | +0.9% | — | — | |
| Q3 2013 | +1.0% | — | — | |
| Q2 2013 | -0.3% | — | — | |
| Q1 2013 | -0.3% | — | — | |
| Q4 2012 | +0.0% | — | — | |
| Q3 2012 | -0.9% | — | — | |
| Q2 2012 | -0.6% | — | — | |
| Q1 2012 | +1.8% | — | — | |
| Q4 2011 | +1.0% | — | — | |
| Q3 2011 | -1.0% | — | — | |
| Q2 2011 | -0.3% | — | — | |
| Q1 2011 | +0.6% | — | — | |
| Q1 2008 | -1.9% | — | — | |
| Q4 2010 | -1.9% | — | — | |
| Q3 2010 | +4.6% | — | — | |
| Q2 2010 | -2.1% | — | — | |
| Q1 2009 | -2.9% | — | — | |
| Q1 2010 | +0.2% | — | — | |
| Q2 2009 | +0.2% | — | — | |
| Q4 2007 | +0.2% | — | — | |
| Q4 2009 | +0.2% | — | — | |
| Q4 2008 | +4.9% | — | — | |
| Q3 2008 | +4.9% | — | — | |
| Q3 2009 | +4.9% | — | — |
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