DUBLIN (dpa-AFX) - Allegion Plc. (ALLE) released a profit for its first quarter that increased from the same period last year and beat the Street estimates.
The company's earnings totaled $148.2 million, or $1.71 per share. This compares with $123.8 million, or $1.41 per share, last year.
Excluding items, Allegion Plc. reported adjusted earnings of $161.2 million or $1.86 per share for the period.
Analysts on average had expected the company to earn $1.67 per share. Analysts' estimates typically exclude special items.
The company's revenue for the period rose 5.4% to $941.9 million from $893.9 million last year.
Allegion Plc. earnings at a glance (GAAP) :
-Earnings: $148.2 Mln. vs. $123.8 Mln. last year. -EPS: $1.71 vs. $1.41 last year. -Revenue: $941.9 Mln vs. $893.9 Mln last year.
Looking ahead, for fiscal 2025, the company has reaffirmed its guidance.
Allegion still projects adjusted earnings per share to be $7.65 to $7.85, with reported revenue growth of 1 percent to 3 percent, and organic revenue growth of 1.5 percent to 3.5 percent.
Annual net profit is anticipated to be in the range of $7.05 to $7.25 per share.
For fiscal 2024, the company had reported net earnings of $6.82 per share, with adjusted income of $7.53 per share, on revenues of $3.77 billion.
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