Johnson Controls Inc. (NYSE: JCI) maker of automotive batteries and building heating and cooling units, reported a higher quarterly net profit on Thursday.
Excluding transaction, integration, separation costs and non-recurring items, income from continuing operations was $939 million U.S, up from $911 million U.S. in the previous year, the company said.
Adjusted non-GAAP earnings from continuing operations per share was $1.04 U.S., unchanged from a year ago. Analysts had expected earnings per share for the quarter of $1.01 U.S.
The Milwaukee-based company, the largest U.S. auto parts supplier, said in July it planned to spin off its low-margin automotive interiors business segment into a separate publicly traded entity within 12 months and would focus on growing its battery-manufacturing and building heating and cooling segments.
Johnson Controls opened trading Thursday at $44.27 U.S., down 71 cents, or 1.6%, within a 52-week trading range of $38.48 U.S. to $54.52 U.S.
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