Allegion Q2 Earnings Top Estimates, Revenues Up Y/Y

Allegion plc‘s (NYSE: ALLE) second-quarter 2024 adjusted earnings of $1.96 per share beat the Zacks Consensus Estimate of $1.77. The bottom line increased 11.4% year over year.

Revenue Details

Allegion’s revenues were $965.6 million, which increased 5.8% year over year. Organic revenues increased 5.2% driven by price realization and volume growth. The company’s revenues beat the Zacks Consensus Estimate of $944 million.

Acquired assets boosted revenues by 0.9%. Forex woes left a negative impact of 0.3% on revenues.

ALLE reports revenues under two segments. A brief discussion of quarterly results is provided below:

Revenues from Allegion Americas increased 6% year over year to $770.7 million. The figure accounted for 79.8% of the quarter’s revenues. Our estimate for segmental revenues was $751.4 million.

Operating income for the segment was $214.3 million, up 9.7% year over year. Our estimate was $226.0 million.

Revenues from Allegion International were $194.9 million, up 5.2% year over year. The metric accounted for 20.2% of the quarter’s revenues. Our estimate for segmental revenues was $192.9 million.

Segmental operating income was $17.7 million, up 27.3% year over year. Our estimate was $22.1 million.

Margin Profile

In the reported quarter, Allegion’s cost of revenues …

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