NYSE$ALLE
Allegion · Q3 2021 earnings
Q3 2021 earnings · · Investor relations
Briefing
Allegion's financial performance decreased due to supply chain constraints and electronics and other parts shortages.
Allegion reported a decrease in third-quarter 2021 revenues and adjusted EPS, driven by supply chain constraints, while reaffirming its full-year outlook. Net revenues were $717 million, a 1.6% decrease, and adjusted EPS was $1.56, a 6.6% decrease compared to the prior year.
- Third-quarter 2021 net earnings per share (EPS) of $1.59, compared with 2020 EPS of $1.58.
- Third-quarter 2021 adjusted EPS of $1.56, down 6.6 percent compared with 2020 adjusted EPS of $1.67.
- Third-quarter 2021 revenues of $717 million, down 1.6 percent on both a reported and organic basis.
- Third-quarter 2021 operating margin of 19.3 percent, compared with 2020 operating margin of 22 percent; Adjusted operating margin of 20 percent, down 330 basis points compared with 2020 adjusted operating margin of 23.3 percent.
Headline financials
Revenue & EPS history
Allegion · Revenue · Quarterly
$717M
Revenue by segment
Allegion · $717M total across 2 segments · Q3 2021
- Allegion Americas$524M-2.7%73.1%
- Allegion International$193M+29.8%26.9%
Forward guidance
The company is reaffirming its updated full-year 2021 revenue, EPS and available cash flow outlooks from the pre-release of Oct. 1, 2021.
Tailwinds
- The company expects reported revenue growth of 4 to 4.5 percent
- The company expects organic revenue growth of 3 to 3.5 percent, when compared with 2020, after excluding the expected impacts of acquisitions, divestitures and foreign currency movements.
- The company expects full-year 2021 reported EPS to be in the $4.95 to $5.05 range
- Adjusted EPS coming in between $5.00 to $5.10.
- The company expects full-year 2021 available cash flow of approximately $460 to $480 million.
Headwinds
- Adjustments to 2021 EPS of $0.05 per share include expected charges for restructuring and acquisition and integration expenses
- The outlook includes incremental investment of approximately $0.15 to $0.20 per share
- Assumes a full-year adjusted effective tax rate of approximately 9 percent
- Assumes an average diluted share count for the full year of approximately 90.5 million shares.
- Supply chain, labor and electronic component challenges are unprecedented.
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 Q3 2021
+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
| Quarter | Report date | Reaction (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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