Allegion plc (NYSE: ALLE) reported Q4 EPS of $1.28, $0.01 worse than the analyst estimate of $1.29. Revenue for the quarter came in at $719.5 million versus the consensus estimate of $733.46 million.

• Fourth-quarter 2019 net earnings per share (EPS) of $0.86, compared with 2018 EPS of $1.39; Adjusted 2019 EPS of $1.28, up 4.9 percent compared with 2018 adjusted EPS of $1.22
• Fourth-quarter 2019 revenues of $719.5 million, up 2.4 percent compared to 2018 and up 3.5 percent on an organic basis

“I am extremely pleased with Americas’ fourth-quarter performance,” said David D. Petratis, Allegion chairman, president and CEO. “The region delivered strong organic growth and electronics performed well as we continue to see healthy end-market fundamentals there. Conversely, weak market conditions in Australia and softened market conditions across China and Europe during the quarter posed challenges for the other regions.”

“Allegion’s full-year results again reflect solid performance in revenue, operating margin, EPS and cash flow,” Petratis added. “We continue to drive shareholder value and have taken the necessary steps to deliver on our commitments in 2020.”

GUIDANCE:

Allegion plc sees FY2020 EPS of $5.10-$5.20, versus the consensus of $5.32.

• The company expects full-year 2020 revenues to increase 3 to 4 percent on a reported basis and 3.5 percent to 4.5 percent organically, when compared with 2019. Revenue growth is expected to be led by the Americas region, at an estimated 4 to 5 percent overall and 4.5 to 5.5 percent on an organic basis.
• Full-year 2020 reported EPS is expected to be in the range of $5.00 to $5.10, or $5.10 to $5.20 on an adjusted basis. This reflects an increase of approximately 4 to 6 percent versus adjusted 2019 EPS. The outlook includes incremental investment of approximately $0.15 per share; assumes a full-year adjusted effective tax rate of approximately 16.5 to 17 percent; and assumes an average diluted share count for the full year of approximately 93 million shares.
• The company is targeting full-year available cash flow of approximately $450 to $470 million.

For earnings history and earnings-related data on Allegion plc (ALLE) click here.