Johnson Controls Hitachi Air Conditioning India’s second quarter results announced: losses fell 46.72% year-on-year

Johnson Controls Hitachi Air Conditioning India Q2 Results Live

2024-10-24 11:08:41 :

Johnson Controls Hitachi Air Conditioning India’s second quarter results live broadcast: Johnson Controls Hitachi Air Conditioning India announced its second quarter results on October 23, 2024. Compared with the same period last year, revenue increased significantly by 41.45% and losses decreased by 46.72%. However, the company faced challenges, with revenue falling 60.21% month-on-month and losses expanding 183.13%.

Selling, general and administrative (SG&A) expenses increased by 3.52% month-on-month and 9.01% year-on-year, indicating that rising operating costs may affect future profitability.

Operating income declined significantly, with a year-on-year increase of 36.71%, but a sharp decline of 213.15% month-on-month. The difference highlights the volatility of financial results in recent quarters.

Second quarter earnings per share (EPS) were $-11.1, a year-on-year improvement of 37.66%, indicating that although the company is still losing money, its losses are narrowing.

In terms of stock performance, Johnson Controls Hitachi Air Conditioning India returned -6.21% over the past week, but has gained an impressive 104.95% over the past six months and 118.29% year-to-date.

The company’s current market capitalization is $6625.06 Cr, 52-week high $2620.1 and minimum $951.35, indicating that the stock price has fluctuated significantly.

As of October 24, 2024, the analyst outlook remains cautious, with one in ten analysts giving the company a “sell” rating. Consensus recommendations indicate negative sentiment about future performance.

Johnson Controls Hitachi Air Conditioning India Financial Status

periodQ2Q1month-on-month growthQ2year-on-year growth
total revenue396.28995.96-60.21%280.15+41.45%
Total Selling/General/Administrative Expenses46.1144.54+3.52%42.3+9.01%
Depreciation/Amortization18.6516.57+12.55%15.8+18.04%
total operating expenses441.54955.96-53.81%351.66+25.56%
operating income-45.2640-213.15%-71.51+36.71%
net income before tax-39.4249.06-180.35%-74.7+47.23%
net income-30.0536.15-183.13%-56.4+46.72%
Diluted normalized earnings per share-11.113.3-183.46%-17.81+37.66%
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