Johnson Controls International plc (NYSE:JCI) Q2 2024 Earnings Call Transcript

And so we saw it coming. We saw it coming two years ago and we started that expansion. But obviously, that has accelerated over the last 12 months. And we are strategically engaged with each one of the hyperscalers and colos and understanding exactly what is going to be built here, multi-years, and we are positioning to make sure we have the right , as I said earlier, the right technologies with the right capacity to then be able to support their buildout. And so all of that has been factored in our current run rate of reinvestment.

Operator: Thank you. And ladies and gentlemen, this concludes our question-and-answer session. I’d like to turn the conference back over to George Oliver for closing remarks.

George R. Oliver: Yes. Let me wrap up. I want to thank everyone for joining us today, and I’d like to end the call by highlighting the strong foundation of operational excellence at Johnson Controls and our value creation framework. I think, we demonstrated with the disruption in Q1. And then as we’ve now come back and created momentum in Q2, gives us a lot of confidence that we are beginning to see not only the results, but now more important the opportunity to be able to accelerate here as we go forward. Our results demonstrate that we are both capturing the secular trends around sustainability and healthy buildings and that we do have the right strategy and operating system in place that ultimately not only meets our customers’ needs as a preferred partner, but certainly elevates the ability to be able to create returns for our shareholders.

So we are very excited about what is to come and what we see now playing out. We believe that we are poised to continue creating value for our shareholders, and we all look forward to continuing engaging with all of you here over the next days and weeks as we continue to execute. So with that, operator, that concludes our call.

Operator: Thank you, sir. You may now disconnect your lines and have a wonderful evening. Thank you.