Why Johnson Controls Stock Raced Nearly 9% Higher Today

The news driving Johnson Controls (NYSE: JCI) stock well higher on Wednesday was glaringly positive. The heating, ventilation, and air conditioning (HVAC) specialist reported its fiscal fourth quarter of 2024 results, and on the better-than-expected results, investors eagerly bought into the stock. It rose by just shy of 9% in price that day, a performance more than good enough to beat the S&P 500 index's 2.5% increase.In the quarter, Johnson Controls managed to boost its sales by 7% year over year; they landed at $7.4 billion. Non-GAAP (adjusted) net income saw a much more dynamic rise, improving by 19% to $858 million, or $1.28 per share. That meant a double beat for the very specialized industrial company. The consensus analyst estimate for revenue was a touch over $7.3 billion, and that for adjusted profitability was $1.24 per share. Continue readingWeiter zum vollständigen Artikel bei MotleyFool Weiter zum vollständigen Artikel bei MotleyFool