Allegion Q4 Adj. EPS $1.68 Beats $1.59 Estimate, Sales $897.40M Miss $902.10M Estimate
Portfolio Pulse from Benzinga Newsdesk
Allegion reported Q4 adjusted EPS of $1.68, surpassing the $1.59 estimate, marking a 5% year-over-year increase. However, their sales of $897.40M fell short of the $902.10M estimate, despite a 4.17% increase from the previous year.
February 20, 2024 | 10:32 am
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Allegion's Q4 earnings surpassed estimates with an adjusted EPS of $1.68, a 5% increase from last year, but sales slightly missed expectations.
The positive earnings surprise, with a 5.66% beat on the EPS estimate, is likely to be viewed favorably by investors, potentially leading to a short-term uptick in ALLE's stock price. However, the slight miss on sales estimates could temper some of the positive momentum. Overall, the strong earnings performance is expected to have a more significant impact on investor sentiment.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100