May 6 (Reuters) – U.S. industrial supplier Johnson Controls International on Wednesday raised its annual profit forecast above Wall Street estimates, banking on rising demand for its data center thermal management and cooling solutions.
The company, which offers IT cooling, security and fire systems, has been benefiting from AI-driven data center expansion, part of a broader upswing for firms supplying essential infrastructure for the AI boom.
• Growing AI compute capacity has driven a sharp rise in cooling needs, leading customers to focus on energy-efficient thermal management solutions.
• Johnson Controls raised annual adjusted profit estimates to $4.85 per share from a prior forecast of $4.70. Analysts on average were expecting $4.76 per share, according to data compiled by LSEG.
• The company forecast third-quarter adjusted profit of $1.28 per share, which was in line with analysts’ estimates.
• It reported adjusted profit of $1.19 per share for the second quarter, compared with 82 cents per share a year ago.
• Net sales in the second quarter were $6.14 billion, above $5.68 billion a year earlier.
• U.S.-listed shares of the Cork, Ireland-based company fell 1% in premarket trading following the results.
(Reporting by Apratim Sarkar in Bengaluru; Editing by Shreya Biswas)
