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Security hardware provider Allegion (NYSE:ALLE) will be reporting results this Thursday before market hours. Here’s what you need to know.
Allegion beat analysts’ revenue expectations last quarter, reporting revenues of $1.03 billion, up 9.7% year on year. It was a slower quarter for the company, with a significant miss of analysts’ EPS estimates and a miss of analysts’ EBITDA estimates.
Is Allegion a buy or sell going into earnings? Read our full analysis here, it’s free for active Edge members.
This quarter, the market is expecting Allegion’s revenue to grow 9.3% year on year, improving from the 5.8% increase it recorded in the same quarter last year.
Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business will stay the course heading into earnings. Allegion has missed Wall Street’s revenue estimates multiple times over the last two years.
Looking at Allegion’s peers in the electrical equipment segment, only Acuity Brands has reported results so far. It exceeded analysts’ revenue estimates, delivering year-on-year sales growth of 1.6%.
Read our full analysis of Acuity Brands’s earnings results here.
Over the last year or so, investors' attention has moved from one major market theme to the next, spanning AI disruption and surging infrastructure investment to geopolitical tensions, interest rates, and the health of the broader economy. While some of the electrical equipment stocks have shown solid performance in this choppy environment, the group has generally underperformed, with share prices down 2.8% on average over the last month. Allegion is up 4.9% during the same time and is heading into earnings with an average analyst price target of $165.18 (compared to the current share price of $137.31).
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