International. Johnson Controls International recently reported GAAP earnings per share ("EPS") in the second quarter of 2018 from continuing operations, including special items, of $0.47. Excluding these items, adjusted EPS for continuing operations was US$0.53, an increase of 6% compared to the prior-year period.
Sales of $7.5 billion increased 3% compared to the previous year. Excluding the impacts of mergers and acquisitions, foreign currency and lead prices, total sales grew 1% organically.
GAAP earnings before interest and taxes ("EBIT") were $676 million and EBIT margin was 9.0%. Adjusted EBIT was US$740 million and adjusted EBIT margin was 9.9%, up 10 basis points from a year earlier. Excluding the impact of Scott Safety's divestment, currencies and lead prices, the underlying adjusted EBIT margin increased by 30 basis points.
"The second quarter results represent an important step in Johnson Controls' continued transformation," said George Oliver, president and chief executive officer of Johnson Controls. "We reported another quarter of strong operating performance and momentum continues to grow. I am encouraged by the continued strength in orders across the Buildings platform driven by the significant efforts we have made to increase capacity and drive improved sales execution, monetizing sales investments and product and channel investments with 3% organic services growth and 6% organic product growth." Oliver continued.
"At Power Solutions we are encouraged by our new business triumphs in both OE And aftermarket, driven by improved service levels and shifts to new technologies. We expect to see this momentum positively impact our frontline growth as we move into the second half of the fiscal year. In addition, we are making good progress on our strategic review of Power Solutions."
