Allegion Backs FY22 Earnings View; Lifts Revenue Growth Forecast - Update

(RTTNews) - Security products and solutions provider Allegion plc (ALLE), while announcing weak profit and higher revenues in its first quarter on Tuesday, said it reaffirmed fiscal 2022 earnings per share to be in the $5.50 to $5.70 range, with adjusted earnings per share between $5.55 and $5.75.

On average, 15 analysts polled by Thomson Reuters expect earnings of $5.63 per share for the year. Analysts' estimates typically exclude special items.

Further, the company raised full-year 2022 revenue outlook and now expects reported revenue growth of 7.5 to 9 percent and organic revenue growth of 8.5 to 10 percent, when compared with 2021, after excluding the expected impacts of acquisitions, divestitures and foreign currency movements.

The company previously expected full-year 2022 revenues to increase 6 to 7.5 percent on a reported basis and increase 7 to 8.5 percent organically, when compared with 2021.

In fiscal 2021, reported earnings were $5.34 per share and adjusted earnings were $5.19 per share on net revenues of $2.87 billion.