Allegion Q1 Net Income Increases; Affirms 2024 Outlook - Quick Facts

(RTTNews) - Allegion plc (ALLE) reported that its first quarter net income attributable to Allegion increased to $123.8 million from $123.5 million, last year. Earnings per share was $1.41 compared to $1.40. Adjusted EPS was $1.55, down 1.9% compared with $1.58. On average, eight analysts polled by Thomson Reuters expected the company to report profit per share of $1.45, for the quarter. Analysts' estimates typically exclude special items.

Net revenues were $893.9 million compared to $923.0 million, previous year. Revenues were down 3.6% on an organic basis. Analysts on average had estimated $884.25 million in revenue.

The company affirmed full-year 2024 outlook. Full-year 2024 revenues are expected to increase 1.5% to 3.5% on a reported basis and increase 1% to 3% organically, after excluding the expected impacts of acquisitions, divestitures and foreign currency movements. Full-year reported EPS is expected to be in the range of $6.45 to $6.60, or $7.00 to $7.15 on an adjusted basis. Analysts expect the company to report profit per share of $7.07.

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