Sector: Industrials|Industry: Building Products & Equipment|Market Cap: $52.19B|Employees: 94K
Johnson Controls International plc is a global leader in smart, healthy, and sustainable buildings. The company provides products, services, systems, and solutions that advance the safety, comfort, and intelligence of spaces. Johnson Controls serves a wide range of customers in more than 150 countries, leveraging its broad product portfolio and digital capabilities.
The company reported a net loss of $277 million for the three months ended March 31, 2024, compared to a net income of $133 million in the same period last year. This was primarily driven by a $750 million charge related to the AFFF settlement.
Net sales for the three months ended March 31, 2024, were $6.699 billion, compared to $6.686 billion in the same period last year, indicating minimal growth. Organic sales increased slightly but were offset by unfavorable foreign currency translation.
Gross profit margin decreased to 32.6% for the three months ended March 31, 2024, compared to 33.5% in the same period last year, primarily due to unfavorable mix and lower volumes in the Global Products segment.