Allegion Q3 2024 Earnings Report
Key Takeaways
Allegion reported a strong third quarter with revenue growth of 5.4% and an increase in adjusted EPS of 11.3%. The company is raising its full-year guidance for adjusted EPS and affirming its total revenue and available cash flow outlook.
Net earnings per share (EPS) of $1.99, up 12.4% compared with $1.77; Adjusted EPS of $2.16, up 11.3% compared with $1.94
Revenues of $967.1 million, up 5.4% on a reported basis and up 3.3% on an organic basis
Operating margin of 22.2%, compared with 21.0%; Adjusted operating margin of 24.2%, up 100 basis points compared with 23.2%
Raising full-year adjusted EPS outlook to a range of $7.35 to $7.45
Allegion
Allegion
Allegion Revenue by Segment
Forward Guidance
The company is affirming its reported revenue growth for full-year 2024, which is expected to be 2.5% to 3.5%. The company is also affirming expected organic revenue growth of 1.5% to 2.5%, which excludes the impacts of acquisitions, divestitures and foreign currency movements. 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 outlook assumes an average diluted share count for the full year of approximately 87.6 million shares. The company affirms expected full-year available cash flow of approximately $540 to $570 million.
Revenue & Expenses
Visualization of income flow from segment revenue to net income