May 1 - Johnson Controls ( JCI ) beat analysts'
expectations for second-quarter profit on Wednesday, as strong
residential construction activity in the U.S. boosted demand for
its products such as air conditioning units, heating systems and
automation systems.
A tight supply of existing homes in the United States has
pushed buyers to opt for newly constructed houses and spurred
residential construction.
The company, which competes with Siemens,
Schneider and Honeywell ( HON ), maintained its
full-year adjusted profit forecast of between $3.60 and $3.75
per share
The Cork, Ireland-based company reported a first-quarter
adjusted profit of 78 cents per share, compared with LSEG
estimates of 73 cents.
Total revenue of $6.7 billion in the three months ended
March 31 remained flat from a year ago and was in line with
estimates.
(Reporting by Aishwarya Jain and Nathan Gomes in Bengaluru;
Editing by Sriraj Kalluvila)