Q4 Earnings Recap: Johnson Controls (NYSE:JCI) Tops Commercial Building Products Stocks

As the Q4 earnings season comes to a close, it’s time to take stock of this quarter’s best and worst performers in the commercial building products industry, including Johnson Controls (NYSE:JCI) and its peers.

Commercial building products companies, which often serve more complicated projects, can supplement their core business with higher-margin installation and consulting services revenues. More recently, advances to address labor availability and job site productivity have spurred innovation. Additionally, companies in the space that can produce more energy-efficient materials have opportunities to take share. However, these companies are at the whim of commercial construction volumes, which tend to be cyclical and can be impacted heavily by economic factors such as interest rates. Additionally, the costs of raw materials can be driven by a myriad of worldwide factors and greatly influence the profitability of commercial building products companies.

The 5 commercial building products stocks we track reported a very strong Q4. As a group, revenues beat analysts’ consensus estimates by 8.4%.

In light of this news, share prices of the companies have held steady as they are up 2.4% on average since the latest earnings results.

Best Q4: Johnson Controls (NYSE:JCI)

Johnson Controls reported revenues of $5.43 billion, up 4.2% year on year. This print exceeded analysts’ expectations by 2.7%. Overall, it was an exceptional quarter for the company with a solid beat of analysts’ organic revenue and adjusted operating income estimates.

"I am proud of another strong quarter delivered by the Johnson Controls team, which reflects our successful strategy to simplify our portfolio and position our Company as a leading pure-play building solutions provider," said George Oliver, Chairman and CEO.

The stock is up 9% since reporting and currently trades at $84.25.

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Insteel (NYSE:IIIN)

Insteel reported revenues of $129.7 million, up 6.6% year on year, outperforming analysts’ expectations by 10.4%. The business had a very strong quarter with an impressive beat of analysts’ EBITDA estimates.

Insteel achieved the fastest revenue growth among its peers. The market seems happy with the results as the stock is up 12.6% since reporting. It currently trades at $27.96.

Janus (NYSE:JBI)

Janus reported revenues of $230.8 million, down 12.5% year on year, exceeding analysts’ expectations by 24.1%. It may have had the worst quarter among its peers, but its results were still good as it also locked in a solid beat of analysts’ EPS estimates and an impressive beat of analysts’ EBITDA estimates.

Janus delivered the slowest revenue growth in the group. Interestingly, the stock is up 8.6% since the results and currently trades at $8.74.

Apogee (NASDAQ:APOG)

Apogee reported revenues of $341.3 million, flat year on year. This number surpassed analysts’ expectations by 2.8%. It was a strong quarter as it also recorded an impressive beat of analysts’ EBITDA estimates and a decent beat of analysts’ EPS estimates.

The stock is down 32% since reporting and currently trades at $48.40.

AZZ (NYSE:AZZ)

AZZ reported revenues of $403.7 million, up 5.8% year on year. This print beat analysts’ expectations by 1.8%. Aside from that, it was a satisfactory quarter as it also recorded an impressive beat of analysts’ EBITDA estimates but full-year revenue guidance missing analysts’ expectations.

AZZ had the weakest performance against analyst estimates and weakest full-year guidance update among its peers. The stock is up 12.6% since reporting and currently trades at $95.48.

This content was originally published on Stock Story