ALLE - Allegion reports mixed Q2 earnings; raises FY23 EPS outlook

2023-07-26 05:33:07 ET

• Allegion press release ( NYSE: ALLE ): Q2 Non-GAAP EPS of $1.76 beats by $0.04 .
• Revenue of $912.5M (+18.0% Y/Y) misses by $19.69M .
• Adjusted operating margin of 22.2%, up 130 basis points compared with 20.9%.
• Americas electronics growth of approximately 40%.

• Full-Year Outlook Highlights: Raising full-year 2023 EPS outlook to a range of $6.10 to $6.20 and adjusted EPS outlook to a range of $6.70 to $6.80 (+11.9% to +13.5%) vs. consensus of $6.69.

• Raising full-year 2023 available cash flow to a range of $500 to $520 million.

• Tightening full-year 2023 reported revenue growth outlook to 11.5% to 12.5% vs. consensus growth of 12.82% and full-year 2023 organic revenue growth outlook to 5.5% to 6.5%

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