- Net earnings per share (EPS) for the third quarter of 2022 of $1.30 compared to EPS of $1.59 in 2021; Adjusted earnings per share for the third quarter of 2022 of $1.64, up 5.1 percent from 2021 adjusted earnings per share of $1.56
- Revenues for the third quarter of 2022 of $913.7 million, up 27.4 percent on a reported basis and up 18.6 percent on an organic basis
- 2022 third quarter operating margin of 17.8 percent compared to 2021 operating margin of 19.3 percent; Adjusted operating margin of 21 percent, up 100 basis points from 2021 adjusted operating margin of 20 percent
- Confirming the reported full-year 2022 revenue growth outlook of 13 to 14 percent; Raise full-year 2022 organic revenue growth forecast to a range of 9.5 to 10.5 percent
- Revision of full year 2022 EPS outlook to a range of $4.90 to $5.00 and adjusted EPS guidance to a range of $5.40 to $5.50
Allegion plc EVERYONE, a leading global provider of security products and solutions, today reported third-quarter 2022 net sales of $913.7 million and net income of $114.6 million, or $1.30 per share. Excluding charges related to restructuring, acquisition and integration costs, amortization costs related to acquired backlog and a fair value inventory replenishment and a loss on the sale of a business, adjusted net income was $144.7 million, or $1.64 per share. an increase of 5.1 percent compared to adjusted earnings per share in the third quarter of 2021 of $1.56.
Net sales for the third quarter of 2022 increased by 27.4 percent (up 18.6 percent on an organic basis) compared to the same period last year. Organic revenue growth was driven by robust pricing and strong volume in Allegion Americas businesses, offsetting weakness in Allegion International businesses. Foreign currency exchange rate headwinds continued, impacting nearly $26 million on reported revenues.
“I am very impressed with the resilience of our people and the strong customer relationships we have built over the years,” said John H. Stone, President of Allegion…
