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Johnson Controls Sees EPS Up 17%-25%

Johnson Controls said it expects fiscal 2011 per-share earnings to rise 17% to 25% on sales of about $37 billion, up 9%.

MILWAUKEE (

TheStreet

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Johnson Controls

(JCI) - Get Johnson Controls International plc Report

said it expects fiscal 2011 per-share earnings to rise 17% to 25% on sales of about $37 billion, up 9%.

Johnson Controls, which makes auto parts and heating and cooling systems, said it expects fiscal 2011 earnings of $2.30 to $2.45 a share; analysts surveyed by Thomson Reuters forecast the company will earn $2.37 a share on revenue of $36.27 billion.

"We are substantially increasing our investments to drive organic growth," said Stephen Roell, chairman and CEO, in a statement Tuesday. "Higher capital expenditures in 2011 will support the significant growth opportunities in our power solutions business and further expansion in all of our businesses in the fast-growing geographic markets. Our balance sheet and cash flows are very strong, allowing us to pursue acquisitions that will provide us with platforms for accelerated growth."

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Johnson Controls said revenue at its power solutions business is expected to increase 10% to 15% "due to volume growth across all regions resulting from market share gains and growth in emerging markets."

The company expects, from a market perspective, moderately higher 2011 automotive production in North America, with flat European production vs. 2010. China automotive production is expected to increase in the coming year, though at a slower pace than in 2010, Johnson Controls said.

Johnson Controls meets with analysts at 8:30 a.m. EDT Tuesday in New York.

-- Written by Joseph Woelfel

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