Allegion plc (ALLE) Tops Q1 EPS by 1c, Slight Beat on Revenues; Affirms FY19 EPS Outlook

Allegion plc (NYSE: ALLE) reported Q1 EPS of $0.88, $0.01 better than the analyst estimate of $0.87. Revenue for the quarter came in at $655 million versus the consensus estimate of $654.83 million.

• First-quarter 2019 net earnings per share (EPS) of $0.84, compared with 2018 EPS of $0.75; Adjusted 2019 EPS of $0.88, up 10 percent compared with 2018 adjusted EPS of $0.80
• First-quarter 2019 revenues of $655 million, up 6.8 percent compared to 2018, up 5.8 percent on an organic basis
• First-quarter 2019 operating margin of 16.5 percent, compared with 2018 operating margin of 16.1 percent; Adjusted operating margin of 17.1 percent, increased 10 basis points compared with 2018 adjusted operating margin of 17 percent
• Affirming outlook for 2019 full-year revenue and full-year EPS; Full-year 2019 reported and organic revenue growth of 5 to 6 percent; Full-year 2019 EPS outlook of $4.60 to $4.75, and $4.75 to $4.90 on an adjusted basis

“Allegion had a good start to 2019,” said David D. Petratis, Allegion chairman, president and CEO. “I am pleased with the solid top-line growth in the first quarter led by the Americas non-residential business, which continues to see strong end markets.

“I am also pleased with the 10-percent increase in adjusted EPS, as we drove margin expansion in all regions, even with significant carryover inflationary pressures. The team did a nice job of driving price realization and productivity actions globally to propel the increase in year-over-year margins,” Petratis added.

GUIDANCE:

Allegion plc sees FY2019 EPS of $4.75-$4.90, versus the consensus of $4.86.

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

You May Also Be Interested In

• Primoris cuts 2026 outlook on renewables cost overruns, COO exits
• Sun Communities names Ileana McAlary as general counsel and EVP
• Comfort Systems USA names new COO and Chief Strategy Officer