NYSE$ALLE

Allegion · Q1 2022 earnings

Q1 2022 earnings · · Investor relations

Briefing

Allegion's financial performance for Q1 2022 was reported, with revenue outlook raised and EPS outlook reaffirmed.

Allegion reported a revenue increase of 4.2% to $723.6 million in Q1 2022. Net earnings were $93 million, or $1.05 per share. The company raised its full-year revenue growth outlook while reaffirming its EPS outlook.

  • First-quarter 2022 net earnings per share (EPS) of $1.05, compared with 2021 EPS of $1.18; First-quarter 2022 adjusted EPS of $1.07, down 10.8 percent compared with 2021 adjusted EPS of $1.20
  • First-quarter 2022 revenues of $723.6 million, up 4.2 percent on a reported basis and up 6.4 percent on an organic basis
  • First-quarter 2022 operating margin of 16.2 percent, compared with 2021 operating margin of 18.9 percent; Adjusted operating margin of 16.9 percent, down 240 basis points compared with 2021 adjusted operating margin of 19.3 percent
  • Raising 2022 full-year revenue growth outlook to a range of 7.5 to 9 percent on a reported basis and 8.5 to 10 percent organically; Reaffirming full-year 2022 EPS outlook range of $5.50 to $5.70 and adjusted EPS outlook range of $5.55 to $5.75

Headline financials

Total Revenue

$724M

Previous: $694M+4.2%
EPS (adj)

$1.07

Previous: $1.20-10.8%
Operating Margin

16.2%

Previous: 18.9%-14.3%
Adjusted Operating Margin

16.9%

Previous: 19.3%-12.4%
Interest Expense

$11.9M

Previous: $12.3M-3.3%
Effective Tax Rate

13.2%

Previous: 11.7%+12.8%
Free Cash Flow

$93M

Previous: $108M-13.9%
Net Income

$93M

Previous: $108M-13.9%
Operating Income

$117M

Previous: $131M-10.9%
Gross Profit

$289M

Previous: $297M-2.9%
Cash & Equivalents

$305M

Previous: $394M-22.6%
Total Assets

$3.01B

Previous: $2.95B+2.0%

Revenue & EPS history

Allegion · Revenue · Quarterly

$724M

Q1 2022+4.2%vs Q1 2021
Beat estimate in 11 of 16 quarters(69%)
ActualEstimate

Revenue by segment

Allegion · $724M total across 2 segments · Q1 2022

  • Allegion Americas
    $528M+5.9%
  • Allegion International
    $195M+0.0%

Forward guidance

The company is raising its full-year 2022 revenue outlook and now expects reported revenue growth of 7.5 to 9 percent and organic revenue growth of 8.5 to 10 percent, when compared with 2021, after excluding the expected impacts of acquisitions, divestitures and foreign currency movements. The company is reaffirming full-year 2022 reported EPS to be in the $5.50 to $5.70 range, with adjusted EPS between $5.55 to $5.75.

Historical earnings impact

How earnings announcements have historically affected this stock's price.

Avg. return before/after earnings

Based on 20 quarterly earnings reports · overlaid with Q1 2022

Historical avgQ1 2022

+0.3%

Avg return

Earnings day

-0.7%

Avg return

5 days after

-0.9%

Avg return

30 days after

48%

26 / 54 earnings

Positive

+10.3%

Q1 2025

Best reaction

-9.5%

Q2 2020

Worst reaction

Earnings price reactions
QuarterReport dateReaction (Day 0)+5 days+30 days
Q1 2026+3.6%-8.7%-12.6%
Q4 2025-9.2%-9.7%-19.9%
Q3 2025-2.5%-3.7%-7.2%
Q2 2025-0.6%+0.1%+3.2%
Q1 2025+10.3%+9.3%+11.7%
Q4 2024-5.6%-4.7%-4.3%
Q3 2024-5.5%-7.3%-6.3%
Q2 2024+4.5%+8.2%+7.7%
Q1 2024-2.1%-3.9%-3.1%
Q4 2023-1.0%-2.5%+2.2%
Q3 2023+1.2%+4.3%+8.6%
Q2 2023-9.1%-8.0%-13.6%
Q1 2023+9.3%+8.6%+5.1%
Q4 2022-1.1%-1.7%-12.5%
Q3 2022+9.1%+9.5%+17.5%
Q2 2022+1.4%-1.4%-6.3%
Q1 2022+1.1%-0.4%-3.4%
Q4 2021-2.6%-3.5%-0.5%
Q3 2021-2.4%-5.4%-2.2%
Q2 2021-0.9%-2.7%-1.3%
Q1 2021+4.0%+3.4%+3.3%
Q4 2020-7.6%-7.8%+3.1%
Q3 2020-1.0%-4.5%+8.8%
Q2 2020-9.5%-11.7%-10.2%
Q1 2020+3.9%+9.3%+1.4%
Q4 2019-5.6%-7.4%-32.2%
Q3 2019+8.6%+10.6%+14.1%
Q2 2019-2.7%-3.6%-13.7%
Q1 2019+2.9%+3.9%+4.0%
Q4 2018-3.9%-2.0%-2.9%
Q3 2018+3.7%+6.1%+11.8%
Q2 2018+1.9%+1.8%+9.0%
Q1 2018-6.3%-7.1%-5.1%
Q4 2017+4.8%+4.2%+2.3%
Q3 2017-7.2%-3.6%-4.1%
Q2 2017+3.7%+3.8%-1.1%
Q1 2017-1.4%-2.6%-0.4%
Q4 2016+6.4%+5.1%+10.2%
Q3 2016-3.0%-3.2%+3.5%
Q2 2016+0.7%-0.3%-0.4%
Q1 2016-2.1%
Q4 2015+4.8%
Q3 2015-0.0%
Q2 2015-0.8%
Q1 2015+1.5%
Q4 2014-1.6%
Q3 2013+5.6%
Q3 2014+5.6%
Q2 2013-1.9%
Q2 2014-1.9%
Q1 2013+4.8%
Q4 2012+4.8%
Q1 2014+4.8%
Q4 2013+2.8%

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