Allegion Q3 2023 Earnings Report
Key Takeaways
Allegion reported Q3 2023 results with net revenues of $917.9 million and net earnings of $156.3 million, or $1.77 per share. Adjusted EPS was $1.94, up 12.1%. The company is raising its full-year adjusted EPS outlook.
Net earnings per share (EPS) of $1.77, up 36.2% compared with $1.30; Adjusted EPS of $1.94, up 12.1% compared with $1.73
Revenues of $917.9 million, up 0.5% on a reported basis and down 0.6% on an organic basis
Operating margin of 21.0%, compared with 17.8%; Adjusted operating margin of 23.2%, up 110 basis points compared with 22.1%
Mid-teens organic growth for electronics and software solutions
Allegion
Allegion
Allegion Revenue by Segment
Forward Guidance
The company affirms its revenue growth for full-year 2023, which is expected to be 11.5% to 12.5%, with organic revenue growth expected to be 5.5% to 6.5%. The company is raising the outlook for full-year 2023 adjusted EPS and expects it to be in the $6.80 to $6.90 range. The company affirms its full-year 2023 available cash flow outlook, which is expected to be approximately $500 to $520 million.
Revenue & Expenses
Visualization of income flow from segment revenue to net income