Allegion Q3 2024 Adj. EPS $2.16 Beats $1.98 Estimate, Sales $967.100M Miss $970.887M Estimate
Portfolio Pulse from Benzinga Newsdesk
Allegion reported Q3 2024 earnings per share of $2.16, surpassing the analyst estimate of $1.98. However, sales of $967.1 million slightly missed the expected $970.887 million. Sales increased by 5.36% compared to the same period last year.
October 24, 2024 | 9:32 am
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POSITIVE IMPACT
Allegion's Q3 2024 earnings per share exceeded expectations, but sales slightly missed estimates. Despite the sales miss, there was a year-over-year increase in sales.
The positive earnings surprise is likely to have a favorable impact on Allegion's stock price in the short term, as EPS exceeded expectations by 9.09%. The slight miss in sales is less significant given the overall year-over-year growth of 5.36%.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100