Johnson Controls Stock Leads S&P Gainers on New CEO, Solid Q1 Results | Global News Avenue

Johnson Controls Stock Leads S&P Gainers on New CEO, Solid Q1 Results
Key points
Shares of Johnson Controls led the earners of the S&P 500 S&P 500 after the company surpassed expectations for the first quarter.The company’s revenue and profit increased year-on-year, with its second-quarter and full-year earnings outlooks beyond estimates.The industrial manufacturer also announced Joakim Weidemanis as the new CEO, who will take over the top position in March.
Shares of Johnson Controls International (JCI) After the company’s highest first-quarter performance estimate, it led the 500 index on Wednesday morning and announced a new CEO.

HVAC, refrigeration and safety equipment manufacturers said on Wednesday that net revenue was $419 million, or 63 cents a share, was $5.43 billion in the quarter and $5.43 billion in revenue each quarter.

Analysts expect profits of $397.65 million, 60 cents a share, and sales of $5.28 billion, according to estimates summarized by Visible Alpha.

Johnson controlled forecasts also exceeded the estimated maximum estimate, with earnings per share expected to range from 77 cents to 79 cents in the second quarter, and $3.50 to $3.60 for the full year. Analysts consensus was 72 cents in the second quarter on Wednesday, and $3.47 in the fiscal year.

Johnson Controls announces Danaher Exec Joakim Weidemanis as next CEO
In another release Wednesday, Johnson Controls announced the next CEO, Joakim Weidemanis, who will take over the top position on March 12.DHR), he has held several administrative positions over the past 13 years.

The company’s outgoing CEO George Oliver will take on the company’s role by the end of this year. Oliver announced plans to retire last July after meeting with activist investor Elliott Investment Management. A wooden pile was built Last year in Johnson Controls.

Shares in Johnson Controls rose about 12% on Wednesday morning, with intraday and closing prices in November 2024 at $87.16 and $86.60.