(Adds Outlook)
Allegion (ALLE) revealed a profit for third quarter that decreased from the same period last year but beat the Street estimates.
The company's bottom line totaled $114.6M, or $1.30 per share. This compares with $143.5M, or $1.59 per share, in last year's third quarter.
Excluding items, Allegion reported adjusted earnings of $144.7M or $1.64 per share for the period.
Analysts on average had expected the company to earn $1.47 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.
The company's revenue for the quarter rose 27.4% to $913.7M from $717 million last year.
Outlook:
Looking ahead, for the fiscal 2022, the company has revised its outlook. For full-year, Allegion now expects its EPS to be in the range of $4.90 to $5 compared with its previous outlook of $5.05 to $5.15. Excluding items, the firm now projects income per share to be in the range of $5.40 to $5.50, versus its previous projection of $5.35 to $5.45. Allegion has reaffirmed its reported revenue growth outlook of 13 to 14 percent.
Analysts on average expect the company to earn $5.37 a share on revenue of $3.23 billion.
Allegion earnings at a glance (GAAP) :
-Earnings (Q3): $114.6M. vs. $143.5M. last year.
-EPS (Q3): $1.30 vs. $1.59 last year.
-Analyst Estimates: $1.47
-Revenue (Q3): $913.7M vs. $717 Mln last year.
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