Allegion plc Reports Strong Q3 Earnings

DUBLIN – Allegion plc (NYSE:ALLE) reported third-quarter earnings that surpassed analyst expectations, leading to a 4% increase in shares during early trading on Thursday.

The security products maker posted adjusted earnings per share of $2.16, exceeding the consensus estimate of $1.98. Revenue was $967.1 million, slightly below analysts' projections of $970.63 million, but up 5.4% YoY.

Allegion's organic revenue increased 3.3% in the quarter, driven by price realization and volume growth. The company's adjusted operating margin expanded 100 basis points to 24.2%.

> "Q3 marks another quarter of strong results for Allegion. Our team continued to perform at a high level, driving revenue growth and margin expansion that demonstrate the resilience of our business model," said Allegion President and CEO John H. Stone.

Looking ahead, Allegion raised its full-year 2024 adjusted EPS guidance to a range of $7.35 to $7.45, above the consensus of $7.25. The company affirmed its full-year revenue growth outlook of 2.5% to 3.5%.

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