Q4 2024 Johnson Controls International PLC Earnings Call Transcript
Key Points
- Johnson Controls International PLC (JCI) reported double-digit organic revenue growth and robust margin expansion in Q4 2024.
- The company achieved a record backlog of $13.1 billion, driven by strong demand in data centers.
- JCI's adjusted EPS of $1.28 exceeded the high end of their guidance range, showing strong financial performance.
- The company is progressing with the sale of its residential and light commercial business to Bosch, expected to close in fiscal Q4.
- JCI's strategic focus on sustainability and energy efficiency in commercial buildings is resonating well with customers, supporting long-term growth prospects.
- The North America Building Solutions segment experienced margin pressure due to a mix of larger systems projects.
- The Asia Pacific region saw a 5% decline in sales, although there was sequential improvement.
- JCI anticipates incurring approximately $400 million in restructuring expenses over the next three years.
- The company's effective tax rate is expected to increase due to global tax reforms, potentially impacting future earnings.
- The fiscal 2025 guidance includes mid-single-digit organic sales growth, which may be seen as conservative given the current backlog.
(Music Playing) Good morning, and welcome to the Johnson Controls Fourth Quarter 2024 earnings conference call.
Today, all participants will be in a listen-only mode. Should you need assistance during today's call, (operator instructions).
After today's presentation, there will be an opportunity to ask questions. I would now like to turn the conference over to Jim Lucas, Vice President, Investor Relations. Please go ahead
Good morning and thank you for joining our conference call to discuss Johnson Controls fiscal fourth quarter of 2024 results, the press release and related tables that were issued earlier this morning. Well as the conference call slide presentation can be found at investor relations portion of our website at JohnsonControls.com.
Joining me on the call today are Johnson Controls, Chairman and Chief Executive Officer, George Oliver, and Chief Financial Officer, market and deepen be.
Before we begin, let me remind you that
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