10:16 AM EST, 11/06/2024 (MT Newswires) -- Johnson Controls International ( JCI ) reported higher-than-expected fiscal fourth-quarter results on Wednesday, though the building products company's full-year earnings outlook implied a year-over-year declaration.

Adjusted earnings came in at $1.28 per share for the quarter ended Sept. 30, up from $1.05 the year before and ahead of the Capital IQ-polled consensus of $1.25. Combined sales advanced 7% to $7.39 billion, topping the Street's view for $7.32 billion. Revenue from continuing operations amounted to $6.25 billion, according to the company.

"We are very pleased with our strong end to the fiscal year and our fourth-quarter results, which delivered double-digit organic sales growth and robust margin expansion," Chief Executive George Oliver said in a statement. "Backlog is at record levels and we are well positioned to deliver continued profitable top line growth."

Revenue in the North America building solutions segment climbed 16% year over year to $3.22 billion, while the business in Europe, the Middle East and Africa and Latin America increased to $1.11 billion from $1.05 billion in the 2023 quarter. The building solutions division's sales in Asia Pacific declined 5% to $664 million, while global products remained flat at $2.39 billion.

"Orders grew 8% in the quarter, led by mid-teens service growth, while system order grew 5% against a tough double-digit comparison," Chief Financial Officer Marc Vandiepenbeeck said during an earnings conference call, according to a Capital IQ transcript.

For fiscal 2025, Johnson Controls ( JCI ) anticipates adjusted EPS to be in a range of about $3.40 to $3.50, while the Street is looking for $3.46. The company projects organic sales to grow by mid-single digits for the year. In fiscal 2024, adjusted EPS rose to $3.71 from $3.50, while organic sales increased 4%.

The company expects first-quarter adjusted EPS to come in between $0.57 and $0.60, compared with the market's current view of $0.56. Organic sales are pegged to increase by mid-single digits. "While the first quarter is against an easy comparison, the overall fundamentals are strong entering the year," Vandiepenbeeck told analysts.

"We are entering fiscal 2025 with momentum, and our record backlog offers great visibility into the new year," Vandiepenbeeck said on the call. "Our service business remains well positioned and provide favorable mix to margins."

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