14 slides from Johnson Controls International's earnings presentation, Jan 20, 2011
Slide 1: Quarterly update: FY 2011 first quarter
January 20, 2011 Quarterly update FY 2011 first quarter
Slide 2: Agenda and forward-looking statement
Agenda Introduction Glen Ponczak, Vice President, Investor Relations Overview Steve Roell, Chairman and Chief Executive Officer Business results and financial review Bruce McDonald, Executive Vice President and Chief Financial Officer Q&A (conclude at noon Eastern time) FORWARD-LOOKING STATEMENT Joh
Slide 3: 2011 first quarter: Record sales and earnings
2011 first quarter Record sales and earnings Sales: $9.5 billion vs. $8.4 billion in Q1 2010 (+13%) Segment income: $533 million vs. $406 million in Q1 2010 (+31%) Net income: $375 million vs. $288 million in Q1 2010* EPS: $0.55 per diluted share vs. $0.43 in Q1 2010* 3 *Excluding non-recurring tax
Slide 4: Good momentum
2011 first quarter Good momentum Solid growth in Building Efficiency backlog and orders; evidence of continued market share gains Backlog up 13% at end of Q1 vs. 10% at end of FY2010 Orders received up 17% vs. Q1 2010 Chiller shipments up double-digits; increases in all geographic regions Accelerati
Slide 5: Increasing our full-year revenue and earnings guidance
Increasing our full-year revenue and earnings guidance Automotive acquisitions, higher automotive OE production, higher Power Solutions volumes Investing to support our growth opportunities Building Efficiency sales, engineering and service provider hiring Technology / innovation Emerging market inf
Slide 6: Business results
2011 first quarter Business results
Slide 7: Automotive Experience
2011 first quarter Automotive Experience 2011 2010 Net sales $4.6B $4.1B 12% North America up 9% Europe up 7% (up 13%, excluding currency) Asia up 49%; strength in Japan and Korea China sales (non-consolidated--not included in Asia revenue) up 37% to $1.0 billion Segment income $177M $121M 46% Highe
Slide 8: Building Efficiency
2011 first quarter Building Efficiency 2011 2010 Net sales $3.4B $3.0B 13% Higher revenues in all segments North America up 8% Global Workplace Solutions up 21% Asia up 31% Segment income $139M $104M 34% Higher volume Strong results in Asia 8 Commercial backlog and orders(at December 31, 2010) $4.9B
Slide 9: Power Solutions
2011 first quarter Power Solutions 2011 2010 Net sales $1.6B $1.3B 21% Unit volumes up 19% Aftermarket unit volume up 20% OE unit volume up 17% Very strong demand trends Segment income $217M $181M 20% Higher volume Improved product mix Mexican lead recycling facility ramping up 9
Slide 10: Financial review
2011 first quarter Financial review
Slide 11: First quarter 2011 Financial highlights
First quarter 2011 Financial highlights Financial highlights Financial highlights 11 FX - Euro to U.S. dollar average exchange rate at $1.36 in Q1 2011 vs. $1.48 in 2010Sales - Excluding FX, sales up 15%Gross profit - Higher volumes and cost savings initiativesSG&A - Investments in innovation, emerg
Slide 12: First quarter 2011 Financial highlights
First quarter 2011 Financial highlights Financial highlights Financial highlights 12 Income tax provision - Underlying 2011 tax rate of 19%Noncontrolling interests - Improved profitability in consolidated Automotive and Power Solutions JVs * Excludes non-recurring tax items in 2010
Slide 13: Automotive acquisitions
Automotive acquisitions Timing Hammerstein expected to close in Q2 Keiper / Recaro expected to close in Q3 2011 Financial Impact Sales: Approximately $700 million EPS: Neutral (before acquisition and integration related costs) Net purchase price of approximately $950 million 2012 Financial Impact Sa
Slide 14: Revised fiscal 2011 outlook
Revised fiscal 2011 outlook Revised fiscal 2011 outlook 14 *Excluding acquisition and integration related costs