Allegion plc (ALLE) Tops Q4 EPS by 18c, Beats on Revenues; Offers FY18 EPS Outlook Above Consensus

Allegion plc (NYSE: ALLE) reported Q4 EPS of $1.11, $0.18 better than the analyst estimate of $0.93. Revenue for the quarter came in at $623 million versus the consensus estimate of $605.13 million.

• Fourth-quarter 2017 earnings per share (EPS) of $0.10, compared with 2016 EPS of $0.77; 2017 adjusted EPS of $1.11, compared with 2016 adjusted EPS of $0.81; Reported EPS for fourth-quarter 2017 includes a $53.5 million charge or $0.56 per share related to U.S. tax reform, as well as a $43.2 million charge or $0.40 per share related to debt refinancing costs; Reported and adjusted EPS for fourth-quarter 2016 include a $15 million or $0.10 per share environmental remediation charge
• Fourth-quarter 2017 revenue of $623 million, up 9.4 percent compared to 2016 and up 6.1 percent on an organic basis
• Full-year 2017 EPS of $2.85, compared with 2016 EPS of $2.36; 2017 adjusted EPS of $3.96, up 18.6 percent compared with 2016 adjusted EPS of $3.34
• Full-year 2017 revenue of $2.41 billion, up 7.6 percent compared to 2016 and up 5.7 percent on an organic basis
• Full-year 2017 available cash flow was down $37.1 million to $297.9 million, inclusive of a previously announced $50 million discretionary pension funding payment made in the first quarter
• Full-year 2018 reported revenue growth is forecasted to be up 10.5 to 11.5 percent, with organic revenue growth projected to be up 4 to 5 percent; Full-year 2018 EPS guidance of $4.20 to $4.35 and $4.35 to $4.50 on an adjusted basis

GUIDANCE:

Allegion plc sees FY2018 EPS of $4.35-$4.50, versus the consensus of $4.22.

For earnings history and earnings-related data on Allegion plc (ALLE) click here.

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