- Allegion (ALLE -3.1%) shares fell today despite the company achieving EPS of $1.32, beats by $0.02 and revenue of $746.9M, beats by $34.96M, up 26.7 percent compared to 2020 and up 23.8 percent on an organic basis.
- The Allegion Americas segment revenues increased 23.7 percent (up 22.9 percent on an organic basis); Allegion International segment revenues increased 36 percent (up 26.6 percent on an organic basis)
- Operating margin was 19.5%, compared with 2020 operating margin of 16.4%; Adjusted operating margin was 19.6%, up 70 basis points compared with 2020 adjusted operating margin of 18.9%.
- Year-to-date available cash flow for 2021 was $249.6M, an increase of $146M versus the prior year.
- The company is raising outlook for 2021 full-year revenue growth to a range of 7 to 7.5 percent on a reported basis and 5.5 to 6 percent organically vs. consensus of 5.36% vs. prior guidance of 3 to 4 percent on a reported basis and 2 to 3 percent organically.
- The company is raising full-year 2021 EPS outlook to a range of $5.15 to $5.30 and adjusted EPS outlook to a range of $5.25 to $5.40 vs. consensus of $5.25 vs. prior guidance of EPS outlook in the range of $4.85 to $5.05 and adjusted EPS outlook in the range of $5.00 to $5.15.
- The company is also raising its outlook for full-year available cash flow to approximately $490 to $510 million.
- During second-quarter 2021, the company repurchased ~0.4M shares for ~$50.1M under its previously authorized share-repurchase program approved by the company's board of directors in February 2020.
- Dig in more: Earnings Presentation /Press Release
- Earlier, Allegion EPS beats by $0.02, beats on revenue; raises full year outlook.