Johnson Controls 8-K Johnson Controls reports double-digit increase in earnings on slightly higher Q3 2012 revenues

July 19, 2012

Quarterly update

FY 2012 third quarter

Exhibit 99.2

Agenda

Introduction

Glen Ponczak, Vice President, Global Investor Relations

Overview

Steve Roell, Chairman and Chief Executive Officer

Business results and financial review

Bruce McDonald, Executive Vice President and Chief Financial Officer

Q&A

FORWARD-LOOKING STATEMENT

Johnson Controls, Inc. has made forward-looking statements in this document pertaining to its financial results for fiscal 2012 and beyond that are

based on preliminary data and are subject to risks and uncertainties. All statements, other than statements of historical fact, are statements that

are,

or

could

be,

deemed

"forward-looking"

statements

and

include

terms

such

as

"outlook,"

"expectations,"

"estimates"

or

"forecasts."

For

those

statements, the Company cautions that numerous important factors, such as automotive vehicle production levels, mix and schedules, energy and

commodity

prices,

the

strength

of

the

U.S.

or

other

economies,

currency

exchange

rates,

cancellation

of

or

changes

to

commercial

contracts,

changes in the levels or timing of investments in commercial buildings as well as other factors discussed in Item 1A of Part I of the Company's

most recent Form 10-k filing (filed November 22, 2011) could affect the Company's actual results and could cause its actual consolidated results to

differ materially from those expressed in any forward-looking statement made by, or on behalf of, the Company.

2

2012 third quarter*

Sales: $10.6 billion

vs. $10.4 billion in Q3 2011

Segment income: $615 million

vs. $541 million in Q3 2011

Net income: $441 million

vs. $383 million in Q3 2011

EPS: $0.64 per diluted share

vs. $0.56 in Q3 2011

3

*Excludes non-recurring items in the 2012 and 2011 quarters

2012 third quarter

Challenging macro environment,

weak foreign currency

Revenue growth less than

expected

-

Negative foreign exchange

impact of $515 million

Net income up 15% to record

$441 million, but lower than

previous guidance of 20%

earnings growth

North America auto production up 27% in Q3, but expected

to be up just 4% in Q4

European automotive industry production lower than

expected --

down 5% and weakening

Non-residential building markets not recovering

–

N.A. institutional market:  declines in education and healthcare

–

Europe: softness in southern region continues

Soft demand for automotive aftermarket batteries

Record

high

prices

for

battery

“cores”

used

for

recycling

–

Typical:  receive one core for every aftermarket battery sold

–

Soft aftermarket demand = few cores coming back

–

Low core supply = higher prices

–

Johnson Controls requires additional cores as initial feedstock for

its South Carolina smelter, launching this summer

4

Challenging macro environment

2012 third quarter

Positives

Despite market challenges, market share gain and

significant profitability improvements in Building

Efficiency

–

Segment income up 28%

•

Double-digit increases in all five segments

–

Segment margin up 160 basis points

Good opportunities in Asia for building and automotive

businesses

Record warm temperatures a positive to residential

HVAC demand—up 24%

High temperatures shorten battery life—eventual

positive for aftermarket battery demand this winter

5

Restructuring

–

Q3:  $52 million

•

Automotive ($11M)

•

Building Efficiency ($41M)

–

Additional restructuring actions likely

in Q4 2012

Continuing cost control initiatives

6

Revised Q4 outlook

0 –

5% year-over-year underlying

earnings growth

Reflects softness in key markets

Continuing battery trends: soft

aftermarket demand, higher

prices for lead to be recycled

General weakness in Europe

Continued operational issues in

automotive

We will continue to adjust as market

conditions warrant

Taking action to reflect market realities and to improve profitability

Despite short-term challenges and disruptions

Our mid-

to long-term strategies and outlook are intact

7

Strong market position in SLI batteries;

ability to drive higher margins through

vertical integration

Investments in AGM battery technology

to support customer demand for start-

stop vehicles

Emerging market leadership in all three

businesses

Higher automotive margins via seating

metals strategy and core product

portfolio / standardization

Building Efficiency market share gains

through our ability to help customers

improve energy efficiency and reduce

greenhouse gas footprint

2012 third quarter

Building Efficiency

2012

2011

Net sales

$3.8B

$3.9B

(2%)

Revenues up 1%, excluding foreign currency

Higher revenues in Asia, GWS

Europe, Latin America lower

Residential up 24%

Segment income

$264M

$207M

28%

Double-digit margin improvement in all five segments

–

GWS up 86%, North America Service up 49%

Improved labor utilization

Benefits of service delivery technology investments

SG&A cost reduction initiatives

8

Commercial backlog

(at June 30, 2012)

Record $5.3B, up 7%

(ex. currency)

2012 third quarter

Power Solutions

2012

2011

Net sales

$1.3B

$1.3B     (3%)

Revenues up 2% excluding foreign currency

Shipments up 2%

–

OE up 4%; aftermarket up 2%

Demand lower than expected

–

Overall weakness in N.A. automotive aftermarket

Segment income

$149M

$163M     (9%)

Higher

cost

of

purchasing

spent

“core”

batteries

for

recycling

–

Building initial feedstock for new South Carolina smelter

Lower European production impacting ramp-up of

AGM demand

9

2012 third quarter

Automotive Experience

2012

2011

Net sales

$5.5B

$5.1B

7%

31% increase in North America vs. 27% higher

industry production

–

2011 quarter impacted by Japanese tsunami

Europe

revenues

flat

(excluding

currency)

vs.

5%

lower

industry production

Asia +24%

China sales (mostly non-consolidated): up 24% to $1.2 billion

Segment income*

$202M

$171M

18%

Higher production volumes in North America, Asia

Lower Europe production a negative

–

Complicating efforts to reduce operational inefficiencies

associated with earlier launch difficulties

–

South America unprofitable

Disappointing performance of metals business

10

Return on sales by

geography*

N. America: 

6.6%

Europe:

-1.5%

Asia:

12.5%

*Excludes non-recurring items

(vs. 9.3% in 2011)

(vs. 1.9% in 2011)

(vs. 3.8% in 2011)

(in millions)

2012

(reported)

2011*

(excluding items)

%

change

2011

(reported)

Sales

$10,581

$10,364

2%

$10,364

Gross profit

% of sales

1,537

14.5%

1,550

15.0%

(1%)

1,550

15.0%

SG&A expenses

992

1,065

(7%)

1,094

Equity income

70

56

25%

56

Segment income

$615

$541

14%

$512

5.8%

5.2%

4.9%

Third quarter 2012

Financial highlights

11

FX

–

Euro

to

U.S.

dollar

average

exchange

rate

at

$1.28

in

Q3

2012

vs.

$1.44

in

2011

Sales

–

Excluding

FX,

sales

up

7%

Gross

profit

–

Higher

volumes

offset

by

business

mix,

higher

lead

costs

and

costs

associated

with

launch difficulties

SG&A

–

Cost

management

initiatives

Equity

income

–

Consolidation

of

hybrid

business

in

2012

and

growth

in

Automotive

Experience

JVs

* 2011 excludes acquisition related costs of $29 million

Third quarter 2012

Financial highlights

Financing

charges-net

–

Higher

debt

levels

Income tax provision –

2012 tax rate of 16.2% vs. 18.5% in 2011 due to a revised

geographic mix of projected income

12

(in millions, except earnings per share)

2012*

(excluding

items)

2011*

(excluding

items)

2012

(reported)

2011

(reported)

Segment income

$615

$541

$615

$512

Restructuring costs

-

-

52

-

Financing

charges

-

net

59

43

59

43

Income before taxes

556

498

504

469

Income tax provision

90

92

62

89

Net income

466

406

442

380

Income attributable to non-controlling interests

25

23

25

23

Net income attributable to JCI

$441

$383

$417

$357

Diluted earnings per share

$0.64

$0.56

$0.61

$0.52

* 2012 excludes restructuring charges of $52 million  ($46 million net of tax) and non-recurring tax benefits of $22 million;  2011 excludes

acquisition -related costs of $29 million ($26 million net of tax)

2012 third quarter

Balance sheet

13

Cash provided by operations of $619 million

Increased capital spending to $447 million,

22% higher than 2011

60 bps improvement in trade working capital

as a percentage of sales (6.7% in Q3 2012 vs.

7.3% in 2011)

Continue to focus on improvements in trade

working capital

Net debt / total capitalization 34%

Pension update

–

Year-over-year funded position continues to

improve

–

Intend to adopt market-to-market

methodology in Q4 2012

14

Focus

Right-size headcount and underlying

cost structure

Divestment of underperforming/non-core

businesses

Footprint changes in certain geographies

Consolidation of operations

Improve profitability

FY 2013 analyst meeting

New York

December / January

Clarity on U.S. and Europe

fiscal and monetary polices

Adjusting to changes in market conditions