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Johnson Controls expects 8-14% rise in FY16 diluted EPS

07 Dec '15

2 min read

Johnson Controls, a US based global supplier of seating solutions to automotive brands, along with other products, forecasted a rise of 8 to 14 per cent to $3.7 to $3.9 per share in its diluted earnings per share (EPS) for fiscal 2016 as compared to fiscal 2015, owing to their strategic and operating plans for managing business, according to a press statement released by the company.

The company expects a rise of 4 per cent to $38.6 billion in its consolidate net sales for fiscal 2016 as compared to fiscal 2015. A year-on-year segment improvement income of around 12 per cent is expected for fiscal 2016.

Automotive segment margins are expected to increase approximately 140 to 160 basis points to 6.8 to 7.0 per cent reflecting strong performance by its China joint ventures (including the interiors joint venture formed in July 2015), operational improvements and cost reduction initiatives, as well as improved profitability of the company's metals business.

Commenting on the outlook, Alex Molinaroli, chairman and CEO of Johnson Controls said, “We expect higher revenues and record profitability in fiscal 2016, as we manage through the significant work required to split into two world-class companies after the end of this fiscal year.”

“We believe our strategic and operating plans will continue to drive strong performance in all of our businesses, as we firmly position both new companies for growth” he added. (MCJ)

Fibre2Fashion News Desk – India