What’s Next For Johnson Controls Stock After An Upbeat Q2?

Johnson Controls stock (NYSE: JCI) is up 12% in a month, outperforming the broader markets, with the S&P500 up just 0.2%. The company posted upbeat Q2 results last week, and despite its recent rise, we think it has more room for growth, as discussed below.

Johnson Controls’ revenues were up 10% to $6.7 billion in fiscal Q2’23 (fiscal ends in September), compared to our forecast of $6.6 billion. This growth was driven by a 13% rise in North America sales and an 8% rise in Global Products segment sales. This can be attributed to better price realization and strong demand trends for its commercial HVAC and fire and safety products.