Allegion Q1 Profit Decreases, but beats estimates

Allegion (ALLE) released earnings for first quarter that decreased from the same period last year but beat the Street estimates.

The company's bottom line came in at $93.0M, or $1.05 per share. This compares with $108.0 million, or $1.18 per share, in last year's first quarter.

Excluding items, Allegion reported adjusted earnings of $95.2 million or $1.07 per share for the period.

Analysts on average had expected the company to earn $0.98 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 4.2% to $723.6M from $694.3M last year.

Allegion earnings at a glance (GAAP) :

-Earnings (Q1): $93.0M. vs. $108.0 Mln. last year.
-EPS (Q1): $1.05 vs. $1.18 last year.
-Analyst Estimates: $0.98
-Revenue (Q1): $723.6M vs. $694.3M last year.

Full year EPS guidance: Adj; $5.55 to $5.75

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