Allegion: Q1 Earnings Snapshot
DUBLIN (AP) — DUBLIN (AP) — Allegion PLC (ALLE) on Wednesday reported first-quarter earnings of $123.5 million.
On a per-share basis, the Dublin-based company said it had net income of $1.40. Earnings, adjusted for one-time gains and costs, were $1.58 per share.
The results exceeded Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of $1.35 per share.
The security device maker posted revenue of $923 million in the period, which also topped Street forecasts. Three analysts surveyed by Zacks expected $851 million.
Allegion expects full-year earnings in the range of $6.55 to $6.75 per share.
Allegion shares have fallen 3% since the beginning of the year, while the S&P’s 500 index has risen 6%. The stock has dropped 11% in the last 12 months.
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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on ALLE at https://www.zacks.com/ap/ALLE