Johnson Controls has forecast 2011 revenue above market estimates, helped by strength at its automotive segment, and said it would increase capital expenditure for the year to boost growth.
The auto battery and interiors specialist forecast 2011 earnings of US$2.30-$2.45 a share on revenue of about $37bn. Analysts on average were expecting earnings of $2.37 a share on revenue of $36.27bn, according to Thomson Reuters I/B/E/S.
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Automotive interiors segment revenue will grow about 5%, the company said. It also forecast an increase in 2011 capital investments to about $1.2bn.
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