$JCI (Johnson Controls Inc.)

$JCI {{ '2016-01-25T14:22:03+0000' | timeago}} • Announcement

$JCI & $TYC said that, under the terms of the proposed merger agreement between both companies, the shareholders of $JCI will own approx. 56% of the equity of the combined company & receive aggregate cash consideration of approx. $3.9Bil. The shareholders of $TYC will own approx. 44% of the equity of the combined company.

$JCI {{ '2017-10-05T11:28:33+0000' | timeago}} • Announcement

$JCI has completed the previously announced sale of its Scott Safety business to $MMM for approx $2Bil. Net cash proceeds from the transaction were $1.9Bil, and will be used to repay a portion of Tyco International Holding Sarl's $4Bil of merger-related debt.

$MMM {{ '2017-10-04T21:03:26+0000' | timeago}} • Announcement

$MMM completed its acquisition of Scott Safety from $JCI for a total enterprise value of $2.0Bil. The company estimates the acquisition to be $0.08 dilutive to earnings in 4Q17.

$JCI {{ '2017-08-21T17:25:35+0000' | timeago}} • Announcement

$JCI appointed George Oliver, currently President and COO, to the role of Chairman and CEO, effective Sept 1, 2017. This action accelerates the move of Oliver to his new position six months earlier than previously announced.

$JCI {{ '2017-06-14T20:52:33+0000' | timeago}} • Announcement

$JCI's board of directors appointed Lynn Minella as vice president, chief human resources officer effective June 14. Minella succeeds Simon Davis who is leaving the company to pursue other opportunities. Minella most recently served as group human resources director at BAE Systems Plc based out of London.

$JCI {{ '2017-04-27T16:11:46+0000' | timeago}} • Webcast

$JCI has driven good productivity in its Power Solutions business and has benefited from the higher mix of AGM in 2Q17. This enabled the company to offset the 220BP of headwind on lead and deliver margin rate improvement of over 10BP. For 2017, $JCI expects to see an increase in AGM shipments but margins will face pressure from lead prices.

$JCI {{ '2017-04-27T15:48:22+0000' | timeago}} • Webcast

$JCI is seeing growth in the fire & security product business which is expected to accelerate in 3Q17 and 4Q17. The company believes there will be a pick-up in its service revenues seasonally in 3Q and 4Q along with leverage on volume. Overall, $JCI is positioned to deliver about 90BP improvement in margin rate for 3Q17 and 4Q17.

$JCI {{ '2017-04-27T12:18:15+0000' | timeago}} • Announcement

$JCI expects 3Q17 adjusted EPS from continuing operations to be in the range of $0.70 to $0.73, an increase of 15-20% YoY. Additionally, the company tightened its 2017 adjusted EPS from continuing operations guidance to the range of $2.60 to $2.68, a 13-16% increase YoY.

$JCI {{ '2017-04-27T12:15:04+0000' | timeago}} • Announcement

Automotive parts manufacturer $JCI posted a narrowed loss for 2Q17, driven by higher net sales along with non-cash tax charge and other special items. Net loss narrowed to $115MM or $0.16 loss per share from $469MM or $0.81 loss per share a year ago. Net sales increased 53.53% to $7.26Bil.

$JCI {{ '2017-03-16T14:40:39+0000' | timeago}} • Announcement

$JCI signed a definitive agreement to sell its Scott Safety business to $MMM for about $2Bil in cash. Net proceeds of $1.8-1.9Bil from the deal will be used to repay a portion of Tyco International Holding Sarl's $4.0Bil merger-related debt. The transaction is expected to close in the second half of 2017.

$MMM {{ '2017-03-16T13:22:53+0000' | timeago}} • Announcement

$MMM agreed to buy Scott Safety from $JCI. On GAAP basis, $MMM expects the acquisition to be $0.10 dilutive to earnings in the first 12 months following completion of the transaction. Excluding items, $MMM expects the acquisition to be $0.10 accretive to earnings over the same period. The deal will close in 2H17.

$MMM {{ '2017-03-16T13:20:51+0000' | timeago}} • Announcement

$MMM agreed to buy Scott Safety from $JCI for a total enterprise value of $2Bil. Scott Safety is a premier manufacturer of innovative products, including self-contained breathing apparatus (SCBA) systems, gas and flame detection instruments, and other safety devices that complement $MMM's personal safety portfolio.

$JCI {{ '2017-03-08T16:14:13+0000' | timeago}} • Announcement

The BoD of $JCI declared a regular quarterly cash dividend of $0.25 per common share. The dividend is payable on April 6, 2017, to shareholders of record as of March 22, 2017.

$JCI {{ '2017-02-01T17:18:01+0000' | timeago}} • Webcast

$JCI said looking at the total Buildings business, about 70% of the business is driven by field orders and looking at the backlog and types of projects that are in the backlog, the company feels positive about how these projects are going to convert.

$JCI {{ '2017-02-01T16:53:22+0000' | timeago}} • Webcast

$JCI said in the Fire & Security business, it has been building orders consistently about 3-4% over the last year and this has been building the backlog. The company is beginning to see conversion of this backlog within the Fire & Security space. Both North America and Rest of World are up around 2-3% which reflects progress in orders and backlog.

$JCI {{ '2017-02-01T16:29:05+0000' | timeago}} • Webcast

In 1Q17, $JCI’s Building Technologies and Solutions sales declined 2% to $5.2Bil. Orders, excluding M&A and FX, increased 2% YoverY. In Power Solutions, sales increased 9% YoverY as reported and 7% organically. Power’s margin was down 20BP YoverY, including a 110BP headwind from the impact of higher lead costs.

$JCI {{ '2017-02-01T16:20:06+0000' | timeago}} • Webcast

$JCI expects to capture $250-300MM in cost synergies and productivity savings in 2017. In 1Q17, $JCI achieved roughly $50MM in productivity synergies or about $0.05 on an EPS basis. $JCI expects to capture a similar amount in 2Q17 and based on timing around issues like headcount reductions, it expects to achieve $0.07 in 3Q17 and $0.08 in 4Q17.

$JCI {{ '2017-02-01T12:33:30+0000' | timeago}} • Announcement

$JCI reaffirmed its 2017 adjusted EPS from continuing operations of $2.60-2.75, a 13-19% YoverY growth. The company expects 2Q17 adjusted EPS from continuing operations of $0.48-0.50, an increase of 7-11% YoverY.

$JCI {{ '2017-02-01T12:31:11+0000' | timeago}} • Announcement

$JCI reported a drop in 1Q17 earnings due to a loss from discontinued operations. Net income fell to $329MM or $0.35 per share from $450MM or $0.69 per share last year. Net sales grew to $7.09Bil from $4.7Bil. Adjusted EPS from continuing operations increased to $0.53 from $0.48.

$JCI {{ '2016-11-08T17:24:45+0000' | timeago}} • Webcast

$JCI's residential unit growth was 20% in 4Q16. The company had some new product releases and there is also some pricing which will become effective on November 1. $JCI is seeing growth in residential and commercial and is benefitting from product investments. The company is also making investments in its channel structure.

$JCI {{ '2016-11-08T17:06:50+0000' | timeago}} • Webcast

$JCI saw softness in the high hazard heavy industrial end markets during 2016, which impacted the product businesses. This impacts about 30% of the company’s revenues in this segment. Overall, the orders for Tyco were up low single digits and the backlog was up 4% YonY, which positions $JCI for a good start in 2017.

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