This post was originally published on this site
For the fourth quarter, ended September 30, JCI’s non-GAAP sales increased 7% year-over-year to $6.40 billion, while its non-GAAP net income increased 12% from its year-ago value to $628 million. The company’s EPS increased 16% year-over-year to $0.88.
As overall economic activity picks up, the demand for building products is rising, which should benefit JCI. However, the newly identified COVID-19 omicron variant is threatening the global economic recovery with rising cases of infection. If the new variant leads to another COVID-19 surge, it could hamper the economic recovery and hurt JCI’s earnings growth. The company’s net income has declined at an 8.9% CAGR over the past three years.
