2023-04-26 05:34:03 ET
- Allegion press release ( NYSE: ALLE ): Q1 Non-GAAP EPS of $1.58 beats by $0.22 .
- Revenue of $923M (+27.6% Y/Y) beats by $76.71M and up 15.0% on an organic basis.
- The company’s adjusted effective tax rate for first-quarter 2023 was 17.4%, compared with 14.6% in 2022.
- Adjusted operating margin of 20.8%, up 290 basis points compared with 2022 adjusted operating margin of 17.9%.
- Raising full-year 2023 reported revenue growth outlook to 11.5% to 13.5% vs. consensus growth of 9.67% and full-year 2023 organic revenue growth outlook to a range of 5.5% to 7.5%.
- Raising full-year 2023 EPS outlook to a range of $5.95 to $6.15 and adjusted EPS outlook to a range of $6.55 to $6.75 vs. consensus of $6.41 (+9.3% to +12.7% vs. prior year).
- The company increases expectations for full-year 2023 available cash flow to approximately $480 to $500 million.
For further details see:
Allegion beats Q1 top and bottom line estimates; raises FY23 outlook