Johnson Controls, an automotive parts supplier, Monday issued 2017 earnings per share guidance of $2.60 to $2.75, straddling the $2.70 average estimate from analysts polled by Capital IQ.
The guidance represents a 13% to 19% year-over-year increase, compared to the pro forma fiscal 2016 base of $2.31 per share.
The company said guidance included an organic revenue growth range of 2.5% to 4.5%, and EBIT margin expansion before special items of 80 to 110 basis points.
“We are well positioned as a market leader to accelerate growth in our core buildings and energy businesses,” said CEO Alex Molinaroli.
The company also lowered its quarterly cash dividend payment to $0.25 per share from a dividend of $0.482 paid in August. The dividend is payable Jan. 6, to shareholders of record as of the close of business on Dec. 14.