Why Shares of Johnson Controls Are Falling Today
Beating analysts' top- and bottom-line estimates, Johnson Controls (NYSE: JCI) reported second-quarter 2022 earnings before the market opened this morning. There were several bright spots in the building-automation specialist's report, yet investors seem to be focused more on management's forecast for the coming months -- not on the company's recent accomplishments.
As of 10:54 a.m. ET on Wednesday, shares of Johnson Controls were down 12.7%.
Generating revenue of $6.1 billion and adjusted earnings per share (EPS) of $0.63, Johnson Controls surpassed analysts' expectations for sales and adjusted EPS of $5.9 billion and $0.60, respectively.
Source Fool.com
