Mexican Media Brands
Johnson Controls Profit Tumbles 61%
Johnson Controls Inc. netted $148 million in the fiscal second quarter ended March 31 compared with $379 million a year earlier.
#economics
Share
Johnson Controls Inc. netted $148 million in the fiscal second quarter ended March 31 compared with $379 million a year earlier. Revenue dipped 1% to $10.4 billion.
JCI says weak sales in Europe and restructuring costs there eroded income in the latest quarter. The company predicts stronger profits in the second half.
Quarterly sales slipped 3% to $5.4 billion at the company's auto components unit, dragged down by a 13% drop in sales of electronic parts. Revenue climbed 10% to $1.6 billion at JCI's battery business.
Adjusted pretax earnings dropped 21% to $185 million for the auto unit and jumped 19% to $22 million for batteries.
RELATED CONTENT
-
On Lincoln-Shinola, Euro EV Sales, Engineered Carbon, and more
On a Lincoln-Shinola concept, Euro EV sales, engineered carbon for fuel cells, a thermal sensor for ADAS, battery analytics, and measuring vehicle performance in use with big data
-
Report Forecasts Huge Economic Upside for Self-Driving EVs
Widespread adoption of autonomous electric vehicles could provide $800 billion in annual social and economic benefits in the U.S. by 2050, according to a new report.
-
On Urban Transport, the Jeep Grand Wagoneer, Lamborghini and more
Why electric pods may be the future of urban transport, the amazing Jeep Grand Wagoneer, Lamborghini is a green pioneer, LMC on capacity utilization, an aluminum study gives the nod to. . .aluminum, and why McLaren is working with TUMI.