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Johnson Controls, Inc. Grows Thanks To Strong Automotive Sales In China

Anders Bylund

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Johnson Controls auxiliary Recaro combined this distinguished Camaro Z28 interior. Source: Johnson Controls.

Industrial products hulk Johnson Controls (NYSE: JCI  ) only reported results for a third entertain of mercantile year 2014. In pre-market trading, shares fell as most as 1.7% on a news.

Third-quarter sales increasing 3% year-over-year, alighting during $10.8 billion. Adjusted gain rose 17% to $0.84 per share. This figure excludes a accumulation of business divestiture and restructuring charges, adding adult to $0.59 per share. Free money flows fell 43%, interlude during $440 million.

Analysts were looking for gain of $0.83 per share on roughly $10.8 billion in sales. Johnson met these estimates.

Sales rose 7% in a automotive interiors segment, driven by 11% aloft automobile prolongation volumes in China. Chinese revenues increasing 28% to $1.8 billion. This marketplace now comprises 32% of Johnson’s sum automotive sales.

Building potency sales fell 4% year-over-year due to soothing orders in a Americas and a Middle East.

Power solutions notched a 6% income increase, again interjection to healthy orders from a automotive industry. The association sells customary automobile batteries and electric car energy systems underneath brands such as Optima Batteries and Varta.

Looking ahead, government set a operation for fourth-quarter gain between $1.00 and $1.02 per share, incompatible transaction-related costs only as this news did. Full-year giveaway money upsurge targets remained unvaried during $1.6 billion, and all 3 groups are approaching to grow their handling margins.

“We continue to govern good opposite all of a businesses, improving a operational opening while creation poignant changes to a businesses,” pronounced Johnson Controls CEO Alex Molinaroli in a prepared statement.

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Article source: http://www.fool.com/investing/general/2014/07/18/news-johnson-controls-reports-earnings.aspx

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