Allegion (ALLE) Misses Earnings & Revenues, Ups EPS View
Zacks Investment Research | Oct 26, 2016 09:55PM ET
Allegion plc’s (NYSE:ALLE) third-quarter 2016 adjusted earnings came in at 93 cents per share, missing the Zacks Consensus Estimate of 95 cents by 2.1%. Meanwhile, earnings were slightly up from the adjusted EPS figure of 92 cents in the prior-year quarter.
Quarterly net revenue of $581.1 million missed the consensus mark of $586.85 million by 0.97% .The figures, however, increased 6.7% on a year-over-year basis.
Reported revenues reflect organic growth and synergies from acquisitions, partially offset by divestitures and adverse foreign currency translation. All regions reported organic growth reflecting stable markets, investments in new products and channel strategies. Organic revenues increased 5% year over year.
The company’s adjusted effective tax rate for the third quarter of 2016 was 18.4%, compared with 15.1% in 2015 owing to the favorable resolution to uncertain tax positions in 2015, partially offset by favorable changes in the mix of income earned in lower tax rate jurisdictions.
ALLEGION PLC Price, Consensus and EPS Surprise
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