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Johnson Controls profit misses consensus by 30.2% in fiscal Q3

Johnson Controls International plc said its normalized net income for the fiscal third quarter ended June 30 was 66 cents per share, compared with the S&P Capital IQ consensus estimate of 95 cents per share.

EPS increased 12.9% year over year from 59 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $437.9 million, a gain of 11.1% from $394.3 million in the prior-year period.

The normalized profit margin climbed to 4.6% from 4.0% in the year-earlier period.

Total revenue declined on an annual basis to $9.61 billion from $9.83 billion, and total operating expenses declined from the prior-year period to $8.91 billion from $9.21 billion.

Reported net income increased 119.9% from the prior-year period to $502.7 million, or 76 cents per share, from $228.6 million, or 34 cents per share.