Allegion Q1 GAAP Profit Drops to $1.59/Share, Provides Full-Year Guidance
ALLE is trading near its 52-week low of $134.67 (10% above the low).
Summary
Allegion plc reported a decline in its first-quarter GAAP profit, with earnings falling to $138.1 million, or $1.59 per share, compared to $148.2 million, or $1.71 per share, in the prior year. This occurred despite a 9.7% increase in revenue to $1.033 billion. The company also provided full-year EPS guidance of $7.95 to $8.15 and revenue growth guidance of 6% to 8%. This report offers the comprehensive details of the Q1 results and forward-looking guidance, building upon earlier partial disclosures of adjusted EPS and general GAAP decline. The decline in GAAP profitability, despite revenue growth, is a key concern for investors, who will now focus on the company's ability to meet its full-year guidance.
At the time of this announcement, ALLE was trading at $148.40 on NYSE in the Manufacturing sector, with a market capitalization of approximately $12.8B. The 52-week trading range was $134.67 to $183.11. This news item was assessed with negative market sentiment and an importance score of 7 out of 10. Source: dpa-AFX.