Tyco Posts Solid Third-Quarter Results; Merger with Johnson Controls S...

Narrow-moat Tyco reported third-quarter consolidated sales and adjusted earnings of $2.45 billion and $0.54 per share, respectively, which were slightly ahead of consensus expectations. While the company was able to grow organic revenue 1.5% year over year, foreign-currency headwinds more than offset organic growth, and total sales declined 2%. The firm’s third-quarter adjusted EPS improved $0.08 per share from the prior-year quarter, mainly due to lower restructuring charges. We are maintaini...