Allegion Sees Higher FY22 Results, Future Growth Well Into 2023

(RTTNews) - Security products and solutions provider Allegion plc (ALLE), while announcing fourth-quarter results on Tuesday, said it expects fiscal 2022 earnings per share to be in the range of $5.50 to $5.70, and adjusted earnings per share in the $5.55 to $5.75 range.

The company expects full-year 2022 revenues to increase 6 to 7.5 percent on a reported basis and increase 7 to 8.5 percent organically, when compared with 2021.

In fiscal 2021, reported earnings were $5.34 per share and adjusted earnings were $5.19 per share on net revenues of $2.87 billion.

On average, analysts polled by Thomson Reuters expect earnings of $5.72 per share on revenues of $3.05 billion for the year. Analysts' estimates typically exclude special items.

The company is targeting full-year available cash flow of approximately $465 to $485 million.

David Petratis, Allegion chairman, president and CEO, said that he is confident Allegion is well-positioned to drive solid results in 2022 and beyond.

Petratis said, "We expect sequential improvements in revenue growth, EPS and operating margin performance throughout 2022 as we drive aggressive pricing and work to reduce elevated lead times. The continued strength in market demand, along with record backlog levels entering this year, support future growth well into 2023."