Allegion Lifts FY21 Earnings View Above Market - Quick Facts

(RTTNews) - While announcing higher second-quarter profit and revenues, Allegion (ALLE), a provider of security products and solutions, on Thursday lifted its fiscal 2021 earnings per share guidance to a range of $5.15 to $5.30 and adjusted earnings per share guidance to a range of $5.25 to $5.40.

The company previously expected adjusted earnings per share between $5.00 and $5.15.

On average, 12 analysts polled by Thomson Reuters expect earnings of $5.24 per share for the year. Analysts' estimates typically exclude special items.

The company further raised its full-year 2021 revenue outlook and now expects reported revenue growth of 7 to 7.5 percent and organic revenue growth of 5.5 to 6 percent, when compared with 2020.

The company previously projected revenue growth in the range of 3 to 4 percent in 2021.

Allegion also raised its outlook for full-year available cash flow to approximately $490 to $510 million.