In this Research Note, we examine the Johnson Controls building solutions business, based on their 6th November Q4 earnings release, conference call, investor presentation, and reporting financials year ending 30th September 2024. Johnson Controls International plc (JCI), headquartered in Cork, Ireland, positions itself as a pure-play smart buildings player, with a comprehensive building automation, HVAC equipment, and security systems portfolio and a substantial installed base, serving a wide range of customers in more than 150 countries. Having initiated the divestment of its residential and light commercial HVAC equipment businesses, together with the ongoing sale of other non-core businesses such as alarm monitoring, the group is aiming to simplify its portfolio and accelerate its transformation into an enterprise software and solutions provider for commercial buildings. Johnson Controls FY 2024 Financial Highlights Results for the fiscal year 2024 represent the consolidated results of the company, inclusive of the Residential & Light Commercial (“R&LC”) business, which was classified […]