Johnson Controls and Tyco announced that they have entered into a definitive merger agreement under which Johnson Controls will combine with Tyco. The company announced in July 2015 that it is planning to spin off Adient at the beginning of fiscal year 2017. Pro forma for the transaction and separation of Adient, Johnson Controls is expected to have approximately $32 billion of revenue in fiscal year 2016 and $4.5 billion of EBITDA before synergies.

The company provided preliminary earnings guidance for the first quarter of fiscal 2016. Adjusted earnings per share for the first fiscal quarter is expected to be $0.82, compared with guidance of $0.80 - $0.83.