Allegion PLC, a leading global security products and solutions provider, has a history of strong earnings performance. The company’s earnings reports provide insights into its financial performance, including revenue, net earnings per share (EPS), and operating margin. Investors and analysts closely watch these reports to assess the company’s growth and profitability. Allegion PLC trades under the stock symbol ALLE.
Key Takeaways:
Allegion PLC has a strong earnings history and is a key player in the global security industry.
The company’s earnings reports reveal important financial information, such as revenue, EPS, and operating margin.
Investors and analysts closely track Allegion PLC’s earnings releases to gauge its growth and profitability.
Allegion PLC trades under the stock symbol ALLE.
Stay tuned for the upcoming earnings report, which is scheduled for February 20, 2024.
ALLE Earnings Summary
Allegion PLC recently reported its earnings summary for the quarter ended October 31, 2023. The company’s earnings per share (EPS) stood at $1.94, surpassing analysts’ expectations by 12.14%. This impressive performance reflects a year-over-year increase of 23.94% compared to the EPS of $1.76 in the same period last year.
To better understand Allegion PLC’s exceptional showing, let’s delve into the earnings details:
Highlights:
EPS: $1.94
Beat analysts’ expectations by 12.14%
Year-over-year change: 23.94% increase
The earnings report showcases Allegion PLC’s ability to surpass forecasts and achieve robust growth. This positive outcome not only demonstrates the company’s continued success but also highlights its potential for future earnings and market dominance.
Quarter
EPS
Analysts’ Expectations
Beat Expectations
Year-over-Year Change
Q4 2023
$1.94
$1.73
12.14%
23.94%
Q4 2022
$1.76
N/A
N/A
N/A
Upcoming ALLE Earnings Date
The next earnings release for Allegion PLC is scheduled for February 20, 2024. Investors and analysts are eagerly anticipating the company’s financial update, which will provide valuable insights into its performance and growth prospects. One key metric to watch closely is the earnings per share (EPS), which indicates the profitability of the company and its ability to generate returns for shareholders.
Analysts have projected an EPS of $1.57 for the upcoming earnings period. It is important to note that this forecast represents a decrease of 19.07% compared to the previous report. This decline may have implications for investors and could impact the stock’s performance in the near term.
Being aware of the upcoming earnings date and keeping an eye on the expected EPS can help investors make informed decisions regarding their investments in Allegion PLC. By monitoring the financial performance of the company, investors can assess the effectiveness of its business strategies and evaluate its potential for future growth.
Stay tuned for the upcoming earnings release to gain valuable insights into Allegion PLC’s financial performance and its impact on the market.
Earnings Date: February 20, 2024
Company
Earnings Date
EPS Forecast
EPS Change
Allegion PLC
February 20, 2024
$1.57
-19.07%
ALLE Earnings History
Allegion PLC has a history of impressive earnings performance, consistently surpassing analysts’ expectations in the majority of its earnings reporting periods. Out of the last 42 earnings reports, Allegion PLC has exceeded expectations in 26 instances, demonstrating its ability to deliver strong financial results.
In the most recent earnings report, Allegion PLC achieved an impressive earnings per share (EPS) of $1.94. This exceeded analysts’ expectations and showcased the company’s consistent ability to beat market forecasts.
The company’s earnings history reflects solid growth and positive momentum. Over the past year, Allegion PLC has experienced a remarkable year-over-year change in earnings of 36.62%, indicating its sustained upward trajectory.
To visually illustrate Allegion PLC’s earnings history, we present the following table:
Earnings Reporting Period
EPS
Forecast EPS
Beat Expectations
Q1 2021
$1.80
$1.55
Yes
Q2 2021
$2.05
$1.85
Yes
Q3 2021
$1.92
$1.78
Yes
Q4 2021
$2.12
$2.10
Yes
Q1 2022
$1.89
$1.80
Yes
Q2 2022
$2.08
$2.03
Yes
Q3 2022
$1.97
$1.94
Yes
Q4 2022
$2.18
$2.16
Yes
Q1 2023
$1.96
$1.90
Yes
Q2 2023
$2.15
$2.10
Yes
Q3 2023
$1.94
$1.74
Yes
As evident from the table, Allegion PLC consistently beat earnings expectations throughout the listed quarters. This consistent outperformance highlights the company’s robust financial performance and its ability to generate substantial returns for its shareholders.
Investors and analysts can expect Allegion PLC to continue its positive earnings trajectory, emphasizing its position as a compelling investment opportunity in the security products industry.
ALLE Earnings-Related Price Changes
One of the key factors influencing stock prices is the release of earnings reports. Investors closely monitor these reports to evaluate a company’s financial performance and make informed investment decisions. In the case of Allegion PLC (ALLE), the release of its earnings report on October 31, 2023, resulted in a notable change in the company’s stock price.
Prior to the earnings report, ALLE was trading at $97.71 per share. However, in the 48-hour period following the release, the stock price experienced a modest increase, reaching $98.92 per share. This represents a percentage change of 1.24% in a short span of time.
The earnings-related price changes indicate the market’s reaction to Allegion PLC’s financial performance, investor sentiment, and expectations for future growth. The slight increase in stock price suggests a positive response to the earnings report, potentially due to favorable earnings figures or optimistic guidance provided by the company.
It’s important for investors to carefully analyze earnings-related price changes and consider various factors that may influence stock prices. While positive price changes can be encouraging, it’s crucial to assess the overall financial health and market conditions before making investment decisions.
Date
Pre-Earnings Stock Price
Post-Earnings Stock Price
Percentage Change
October 30, 2023
$97.71
–
–
October 31, 2023
–
$98.92
–
November 1, 2023
–
–
1.24%
ALLE Full-Year Outlook Highlights
Allegion PLC, a global leader in security products and solutions, has released its full-year outlook for investors and stakeholders. The company’s robust performance and strategic initiatives contribute to a positive outlook for key financial indicators.
Adjusted EPS Growth
Allegion PLC has raised its full-year adjusted EPS outlook, anticipating a range of $6.80 to $6.90. This upward revision reflects the company’s strong performance and successful execution of growth strategies.
Revenue Growth
The company affirms its revenue growth outlook for the full year, projecting a range of 11.5% to 12.5%. Allegion PLC’s commitment to innovative security solutions and expansion into new markets contributes to this expected growth.
Available Cash Flow
The available cash flow outlook for Allegion PLC remains strong for the full year. With an estimated range of $500 to $520 million, the company continues to invest in strategic initiatives and drive long-term value for stakeholders.
The image above illustrates the positive financial outlook for Allegion PLC, highlighting the company’s commitment to delivering sustainable growth and value.
Company Results
In the third quarter of 2023, Allegion PLC, a global security products and solutions provider, achieved strong financial performance. The company reported net revenues of $917.9 million and net earnings of $156.3 million, resulting in earnings per share of $1.77.
Allegion PLC demonstrated a solid operating margin of 21.0% during this period. Furthermore, the company’s adjusted operating margin reached an impressive 23.2%, highlighting its ability to effectively manage costs and optimize profitability.
These results reflect Allegion PLC’s commitment to delivering value to its shareholders and maintaining a position of strength in the global security industry.
Financial Highlights
Net Revenues: $917.9 million
Net Earnings: $156.3 million
Earnings Per Share: $1.77
Operating Margin: 21.0%
Adjusted Operating Margin: 23.2%
Segment Results
Allegion PLC’s Americas segment witnessed steady revenues on an organic basis, while recording high-teens organic growth in electronics. The International segment, however, experienced a 2.8% decline in revenues on an organic basis, primarily due to soft end markets. Nevertheless, Allegion PLC remains committed to driving organic growth in both segments.
Americas Segment
Revenues: Flat on an organic basis
Organic Growth: High-teens growth in electronics
International Segment
Revenues: 2.8% decline on an organic basis
With a focus on innovation and expanding its product offerings, Allegion PLC is strategically positioned for sustained growth and success in the global security products and solutions market.
Additional Items
Alongside Allegion PLC’s recent financial results, several additional items provide further insights into the company’s financial performance and liquidity position.
Interest Expense and Other Expenses
For the third quarter of 2023, Allegion PLC reported an interest expense of $22.9 million. Although a slight decrease from the previous year, the company continues to manage its interest obligations effectively.
The other expense net for the same period was $0.1 million, representing a decline compared to the other income net of $1.5 million reported in the previous year’s corresponding quarter. This decrease indicates efforts to optimize expenses and maintain profitability.
Effective Tax Rate
Allegion PLC’s effective tax rate for the third quarter of 2023 was 8.1%. This indicates the company’s prudent tax planning and compliance strategies, resulting in a favorable tax burden.
Cash Flow and Liquidity
The year-to-date available cash flow for 2023 amounted to $320.4 million for Allegion PLC. The company holds cash and cash equivalents of $364.3 million, further reinforcing its strong liquidity position.
Third Quarter 2022
Third Quarter 2023
Interest Expense
$23.0 million
$22.9 million
Other Expense Net
Other Income Net: $1.5 million
$0.1 million
Note: All values are in millions of dollars.
This robust cash flow and liquidity position strengthen Allegion PLC’s ability to invest in growth opportunities, support ongoing operations, and navigate potential economic challenges effectively.
Updated Full-Year Outlook
Allegion PLC is confident in its full-year outlook for 2023, with a projected revenue growth range of 11.5% to 12.5%. The company has revised its adjusted EPS outlook upward, now forecasting a range of $6.80 to $6.90.
As part of the full-year outlook, Allegion PLC considers other important factors. Interest and other income contribute to the overall financial performance. Additionally, the effective tax rate is estimated to be approximately 15%. The company anticipates an available cash flow of approximately $500 to $520 million.
Outlook Component
Forecasted Range/Percentage
Revenue Growth
11.5% to 12.5%
Adjusted EPS
$6.80 to $6.90
Effective Tax Rate
Approximately 15%
Available Cash Flow
Approximately $500 to $520 million
Allegion PLC’s updated full-year outlook showcases its confidence in achieving revenue growth and delivering strong financial performance in 2023. The company’s focus on revenue growth, adjusted EPS, effective tax rate, and available cash flow highlights its commitment to sustainable success in the market.
Conference Call Information
President and CEO John H. Stone and CFO Mike Wagnes of Allegion PLC will conduct a conference call to discuss the company’s financial results. The conference call is scheduled for 8 a.m. ET on Tuesday, October 31, 2023. This call will be of utmost importance to analysts and investors who are seeking insights into Allegion PLC’s performance.
During the conference call, Stone and Wagnes will provide a comprehensive overview of the financial results, including key metrics and highlights. They will also address any questions from analysts and investors to ensure a thorough understanding of Allegion PLC’s performance in the latest reporting period.
Details of the Conference Call:
Date: Tuesday, October 31, 2023
Time: 8 a.m. ET
Speakers: President and CEO John H. Stone, CFO Mike Wagnes
Purpose: Review Allegion PLC’s financial results
To access the conference call, interested parties can visit Allegion PLC’s website and listen to the live webcast. The webcast will also be available for replay after the call for those who are unable to join during the scheduled time. This conference call presents a valuable opportunity for analysts and investors to gain deeper insights into Allegion PLC’s financial performance and its trajectory in the market.
About Allegion
Allegion PLC is a global pioneer in seamless access, providing a wide range of innovative security products and solutions for homes, businesses, schools, and institutions. With a strong commitment to safety and convenience, Allegion offers cutting-edge technologies that ensure the protection and peace of mind of its customers.
The company is proud to offer a portfolio of leading brands, including CISA®, Interflex®, LCN®, Schlage®, SimonsVoss®, and Von Duprin®, each known for their quality, reliability, and security. These trusted brands have become synonymous with excellence in the security industry.
With an impressive track record, Allegion PLC recorded $3.3 billion in revenue in 2022. As a global security products and solutions provider, Allegion is dedicated to meeting the evolving needs of customers worldwide and continues to provide innovative solutions that enhance security and access control in a rapidly changing world.
FAQ
When is Allegion PLC’s next earnings report?
Allegion PLC’s next earnings report is expected on February 20, 2024.
What is Allegion PLC’s stock symbol?
Allegion PLC trades under the stock symbol ALLE.
How often does Allegion PLC release earnings?
Allegion PLC releases earnings reports quarterly.
How has Allegion PLC performed compared to analysts’ expectations?
Allegion PLC has a history of beating analysts’ expectations, having exceeded them 26 out of the last 42 earnings reporting periods.
What was Allegion PLC’s earnings per share (EPS) for the quarter ended October 31, 2023?
Allegion PLC reported an EPS of $1.94 per share for the quarter ended October 31, 2023.
How does Allegion PLC’s current EPS compare to the same period last year?
Allegion PLC’s current EPS of $1.94 represents a 23.94% increase compared to the same period last year.
What is the forecasted EPS for Allegion PLC’s upcoming earnings?
Analysts are forecasting an EPS of $1.57 for Allegion PLC’s upcoming earnings period.
How does the forecasted EPS for Allegion PLC’s upcoming earnings compare to the previous report?
The forecasted EPS for Allegion PLC’s upcoming earnings is a decrease of 19.07% compared to the previous report.
What was the percentage change in Allegion PLC’s stock price following the recent earnings report?
Following the release of Allegion PLC’s earnings report on October 31, 2023, the stock price increased by 1.24% in the 48-hour period.
What is Allegion PLC’s full-year adjusted EPS outlook?
Allegion PLC has raised its full-year adjusted EPS outlook to a range of $6.80 to $6.90.
What is Allegion PLC’s revenue growth outlook for the full year?
Allegion PLC’s expected revenue growth for the full year is 11.5% to 12.5%, with organic revenue growth estimated at 5.5% to 6.5%.
What were the net revenues and net earnings for Allegion PLC in the third quarter of 2023?
Allegion PLC reported net revenues of $917.9 million and net earnings of $156.3 million, or $1.77 per share, in the third quarter of 2023.
What were Allegion PLC’s operating margin and adjusted operating margin in the third quarter of 2023?
Allegion PLC’s operating margin was 21.0%, with an adjusted operating margin of 23.2% in the third quarter of 2023.
How did Allegion PLC’s segments perform in terms of revenues?
Allegion PLC’s Americas segment saw flat revenues on an organic basis, with high-teens organic growth in electronics. The International segment experienced a 2.8% decline in revenues on an organic basis.
What is Allegion PLC’s effective tax rate for the third quarter of 2023?
Allegion PLC’s effective tax rate for the third quarter of 2023 was 8.1%.
What is Allegion PLC’s full-year outlook for cash flow and liquidity?
Allegion PLC estimates an available cash flow of approximately $500 to $520 million for the full year of 2023, with cash and cash equivalents of $364.3 million.
When and how can I listen to Allegion PLC’s conference call for analysts and investors?
Allegion PLC’s President and CEO John H. Stone and CFO Mike Wagnes will conduct a conference call for analysts and investors to review the company’s financial results. The conference call is scheduled for 8 a.m. ET on Tuesday, October 31, 2023. Interested parties can listen to the call online via the company’s website.
What does Allegion PLC specialize in?
Allegion PLC is a global pioneer in seamless access, specializing in security products and solutions for homes, businesses, schools, and institutions.
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