Cork-based multinational Johnson Controls raises annual profit forecast

Quarterly revenue 'modestly' beats market expectations 

The global headquarters of Johnson Controls at One Albert Quay, Cork. Johnson Controls International raised its annual profit forecast on Tuesday, after beating third-quarter profit estimates on the back of sustained demand for its electrical and industrial equipment.

Johnson Controls International raised its annual profit forecast on Tuesday, after beating third-quarter profit estimates on the back of sustained demand for its electrical and industrial equipment.

The Cork-based firm, which makes liquid cooling systems for IT equipment as well as specialized security and fire systems, has been benefiting from the rising data centre construction as businesses ramp up spending on AI technologies.

Johnson Controls' total quarterly revenue came in at $6.05bn (€5.25bn), compared with Wall Street expectations of $6.01bn (€5.21bn).

"While these are modestly better operating results with a guidance (raise), in this earnings season, modest beats and raises have not been getting bought," RBC Capital Markets analyst Dray Deane said.

The company expects 2025 adjusted profit between $3.65 and $3.68 per share, compared with previous expectations of $3.60 apiece.

It reported adjusted profit of $1.05 per share for the third quarter, beating analysts' average estimate of $1.01, according to data compiled by LSEG.

Reuters