NEW YORK ( TheStreet) -- With a solid second quarter and full-year forecast, Johnson Controls ( JCI) continues to gain favor among analysts and investors alike.

Johnson Controls has boosted its full-year earnings forecast to $1.90 to $1.95 a share from the earlier guidance of $1.70 to $1.75 a share and expects net sales to increase to $33.5 billion from the previous guidance of $33 billion.

"We continue to be encouraged by the steady improvement in the automotive industry and therefore have increased our earnings outlook for 2010," Johnson Controls chief executive Stephen Roell, said in a written statement.

Johnson Controls on Friday reported second quarter net income of $274 million, or 40 cents a share vs. a $193 million or 33 cents-a-share loss a year ago. Net sales were $8.3 billion, up 32% from the previous year. The company said earnings adjusted for non-recurring items were 43 cents, beating the consensus estimate of 39 cents a share on revenue of $7.92 billion.

For the second quarter, Johnson Controls reported a double-digit increase in sales with each of the company's businesses reporting higher profitability.

S&P has reiterated its strong buy opinion on Johnson Controls stock.

"We expect a modest drag on sales and profits from the weaker Euro against the dollar, but this should be more than offset by growth from all segments and most regions," S&P analyst Efraim Levy said in an investor note. "China sales and profits should rise, but this should be largely reflected in the equity income line."

Also noteworthy: "we liked Johnson Controls," Jim Cramer said on his RealMoney column Friday.

-- Reported by Andrea Tse in New York

RELATED STORIES:

Follow TheStreet.com on Twitter and become a fan on Facebook.
Copyright 2010 TheStreet.com Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.

If you liked this article you might like

Big Pharma and the Sellers of Its Products Now Have a Problem

Big Pharma and the Sellers of Its Products Now Have a Problem

Stay Defensive With Johnson Controls

Stay Defensive With Johnson Controls

13 Stocks Investors Should Short if Inflation Remains Low

13 Stocks Investors Should Short if Inflation Remains Low

It's Been a Fine Earnings Season, but Here Come the Retailers: Market Recon

It's Been a Fine Earnings Season, but Here Come the Retailers: Market Recon

DowDupont Closes Higher in First Day of Trading, Company Still Faces Challenges

DowDupont Closes Higher in First Day of Trading, Company Still Faces Challenges