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[video] Johnson Controls CEO: 2014 Will be Bright

The video this transcript is based on appeared on December 18.

NEW YORK (TheStreet) -- Johnson Controls CEO Alex Molinaroli says the company's 2014 outlook is conservative and sees the company's three business units posting higher profitability next year.

VIDEO TRANSCRIPT:

Ruben Ramirez:
Alex thanks so much for joining us. Now you recently beat estimates in the latest quarter you raised guidance you, increased the dividend,what are you gonna do in 2014 to create more shareholder value?

Alex Molinari:

You know I think that we're and in pretty good shape to create value in a much different way to cash flows and be strong operationalperformance is strong, and we're do this without really a market that's helping us so it's a lot of internal activities that create value put us in a good position and for the future when the market does come back we'll be in good shape.

Ruben Ramirez:
Now you're projecting free cash flow about 1.6 billion, what you plan to do with that?

Alex Molinari:
Well you probably know we are to have a share buyback that that were put in place, and I think the cash flows that we have today and moving toward is gonna be a very important for us from a strategic standpoint position us to make some investments.

Ruben Ramirez:
Now the guidance that you've given today for your 2014 outlook, some people in the street saying that it's a little conservative maybe that's what shares are down a little bit today as people can't do it in a profit taking, but they're saying that you're saying that you're up for a meet, and then a raise year for 2014 is there something that we don't know that we should know?

Alex Molinari:
Well, I'm probably not as smart as these people give it credit for, but I do think it's important for us to set expectations that we can meet. They probably got the feel as we talked about expectations today they're very confident about our are being there what's your numbers, but we all got a lot going on in the near term I wanna make sure team is not distracted by chasing the street to make sure that we can meet the objectives that we said front of us. We've got a lot to do that sets up really well for the future.

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