Allegion plc (ALLE) Reports In-Line Q4 EPS, Slight Miss on Revenues; Offers FY19 EPS Guidance Below Consensus

Allegion plc (NYSE: ALLE) reported Q4 EPS of $1.22, in-line with the analyst estimate of $1.22. Revenue for the quarter came in at $702.4 million versus the consensus estimate of $702.76 million.

• Fourth-quarter 2018 earnings per share (EPS) of $1.39, compared with 2017 EPS of $0.10; 2018 adjusted EPS of $1.22, compared with 2017 adjusted EPS of $1.11
• Fourth-quarter 2018 revenue of $702.4 million, up 12.7 percent compared with 2017 and up 6.7 percent on an organic basis
• Full-year 2018 EPS of $4.54, compared with 2017 EPS of $2.85; 2018 adjusted EPS of $4.50, up 13.6 percent compared with 2017 adjusted EPS of $3.96
• Full-year 2018 revenue of $2.73 billion, up 13.4 percent compared with 2017 and up 6 percent on an organic basis
• Full-year 2018 available cash flow was up $110.8 million to $408.7 million
• Full-year 2019 reported and organic revenue growth is estimated to be up 5 to 6 percent; Full-year 2019 EPS outlook of $4.60 to $4.75, and $4.75 to $4.90 on an adjusted basis

“I am pleased with the top-line performance as we delivered another quarter of double-digit revenue expansion with solid organic growth,” said David D. Petratis, Allegion chairman, president and CEO. “All three regions contributed nicely to Allegion’s revenue growth, and end-market fundamentals remain healthy.

“We also had another quarter of nearly 10 percent EPS growth, and while operating margin performance was weaker than expected, base business margins did increase slightly when excluding the impact of 2018 acquisitions,” Petratis added.

GUIDANCE:

Allegion plc sees FY2019 EPS of $4.75-$4.90, versus the consensus of $4.96.

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

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