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Johnson Controls (JCI) Alex A. Molinaroli on Q2 2016 Results - Earnings Call Transcript

Q2 2016 Earnings Call

April 21, 2016 11:00 am ET


Kathryn Campbell - Director-Global Investor Relations, Johnson Controls, Inc.

Alex A. Molinaroli - Chairman, President & Chief Executive Officer

Brian J. Stief - Chief Financial Officer & Executive Vice President

Robert Bruce McDonald - Vice Chairman & Executive Vice President


Colin Michael Langan - UBS Securities LLC

Joshua Pokrzywinski - The Buckingham Research Group, Inc.

Robert Barry - Susquehanna Financial Group LLLP

Mike Wood - Macquarie Securities

Julian Mitchell - Credit Suisse Securities (NYSE:USA) LLC (Broker)

Jeffrey T. Sprague - Vertical Research Partners LLC

Richard Kwas - Wells Fargo Securities LLC

Patrick Archambault - Goldman Sachs & Co.

Noah Kaye - Oppenheimer & Co., Inc. (Broker)

Joseph R. Spak - RBC Capital Markets LLC


Welcome and thank you for standing by. At this time, all participants are in listen-only mode. Today's call is being recorded. If you have any objections you may disconnect at this point.

I'll now turn the meeting over to Ms. Kathie Campbell. Ma'am, you may begin

Kathryn Campbell - Director-Global Investor Relations, Johnson Controls, Inc.

Thank you, Jen, and welcome to the review of John Controls second quarter 2016 earnings call. If you didn't already receive it, the slide presentation can be accessed at our Investor page at

This morning, President, Chairman and CEO, Alex Molinaroli, will provide perspective on the quarter as well as some progress updates on our transformation. He'll be followed by Executive Vice President and Chief Financial Officer, Brian Stief, who will review the results of the individual businesses as well as the company's overall financial performance. Following those prepared remarks, we will open the call for questions, and we are scheduled to end at the top of the hour.

Before we begin, just want to remind you that today's comments will include forward-looking statements that are subject to risks, uncertainties and assumptions that could cause the actual results to be materially different from those expressed or implied by such forward-looking statements.

The factors that could cause results to differ are discussed in the cautionary statement included in today's news release and the presentation document. We also remind you to review the extended disclosures related to the proposed transaction with Tyco, which can also be found in the earnings document today.

With that, I will turn it over to Alex.

Alex A. Molinaroli - Chairman, President & Chief Executive Officer

Great. Thank you, Kathie. Good morning, everyone. So, I'm extremely pleased to talk to you today about our results and our outlook and our future. Before I get started, I'd just like to make a couple of comments. I was reflecting about our discussion at the Analyst Day in December, and I thought I might just spend a couple of minutes reviewing a few things with everyone.

In December, we talked about opportunity, opportunity that was in front of Johnson Controls and what a bright future that we had. And at that meeting, we committed to a few things. One is execution, and that's both our strategic and financial execution and meeting our commitments. Transformation, of course, at the time, we were really talking about the Adient spinoff and the Hitachi integration. Of course, things have changed since then, but we continue to be committed to transforming our business.

Making strategic acquisitions, those that made sense and where it makes sense in order to support our growth platforms. Continuing on our drive for operational excellence; we're seeing that in the maturation of our Johnson Controls operating system and we continue to see and realize tangible results.