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.
Net sales increased by 3% year-over-year, reaching $22.95 billion, primarily driven by a 4% increase in organic sales. This was partially offset by negative impacts from foreign currency translation and net effects of acquisitions and divestitures.
Gross profit margin increased to 35.2% from 34.9% in the prior year, driven by higher gross profit in the Systems/Install and Services businesses, though partially offset by the Global Products segment.
Selling, general and administrative expenses increased by 5% year-over-year, primarily due to the net impact of water systems AFFF settlement agreement costs, partially offset by the year-over-year impact of net mark-to-market adjustments and productivity improvements.