Allegion Plc Raises Full-year Adj. EPS Guidance - Update

(RTTNews) - (Adds Outlook)

Allegion plc (ALLE) said the company is raising the outlook for full-year 2024 EPS and expects it to be in the range of $6.70 to $6.80, or $7.35 to $7.45 on an adjusted basis. The company affirmed its reported revenue growth for full-year 2024, which is expected to be 2.5% to 3.5%. The company also affirmed expected organic revenue growth of 1.5% to 2.5%.

Q3 Results:

Bottom line totaled $174.2 million, or $1.99 per share compared with $156.3 million, or $1.77 per share, a year ago. Adjusted EPS was $2.16, up 11.3% compared with $1.94. Analysts on average had expected the company to earn $1.98 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items. Revenues were $967.1 million, up 5.4% on a reported basis and up 3.3% on an organic basis. Analysts on average had estimated $970.89 million in revenue.

Shares of Allegion plc are up 2% in pre-market trade on Thursday.

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