Johnson Controls beats by $0.04, misses on revs; guides Q4 EPS in-line :
- Reports Q3 (Jun) earnings of $1.07 per share, excluding non-recurring items, $0.04 better thanthe Capital IQ Consensus of $1.03; revenues fell 1.0% year/year to $9.52 bln vs the $9.63 bln Capital IQ Consensus.
- Co issues in-line guidance for Q4, sees EPS of $1.17-1.20, excluding non-recurring items, vs. $1.19 Capital IQ Consensus Estimate.
- Orders in the quarter, excluding M&A and adjusted for foreign exchange, were 5 percent higher year-over-year driven by Systems and Services North America up 3 percent, Products North America up 8 percent and Asia up 6 percent. Backlog at the end of the quarter improved to $4.8 billion, an increase of 2 percent from the prior year, excluding the impact of foreign exchange.
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