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Johnson Controls profit misses consensus by 30.0% in fiscal Q1

Johnson Controls International plc said its normalized net income for the fiscal first quarter ended Dec. 31, 2014, was 58 cents per share, compared with the S&P Capital IQ consensus estimate of 82 cents per share.

EPS rose 21.2% year over year from 47 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $384.1 million, an increase of 18.6% from $323.8 million in the prior-year period.

The normalized profit margin rose to 3.7% from 3.4% in the year-earlier period.

Total revenue grew 12.3% year over year to $10.67 billion from $9.50 billion, and total operating expenses climbed 11.5% from the prior-year period to $10.02 billion from $8.99 billion.

Reported net income increased 16.3% year over year to $507.7 million, or 76 cents per share, from $436.5 million, or 64 cents per share.