RTTNews | Apr 22, 2021 07:26AM EDT

07:25 Thursday, April 22, 2021 (RTTNews.com) - Shares of security products and solutions provider Allegion plc (ALLE) are up 2.94% in the pre-market trade on Thursday following better-than-expected first-quarter results.

Net earnings in the first quarter were $108.2 million, or $1.18 per share compared with $0.5 million a year ago.

The company cited improved segmental revenues and margin expansion during the quarter.

Adjusted earnings of $1.20 per share beat the average estimate of analysts polled by Thomson Reuters at $1.02 per share.Analysts' estimates typically exclude special items.

Revenues for the quarter increased 2.9% year-over-year to $694.3 million. The consensus estimate was for $649.76 million.

Looking forward, the company is raising its full-year outlook. It sees revenue growth in the range of 3 to 4 percent in 2021 compared with a revenue decline of 0.5 to 1.5 percent, provided earlier. Adjusted EPS is currently expected between $5.00 and $5.15, up from prior outlook of $4.55 to $4.75. Analysts expect the company to report earnings of $4.89 per share on revenue growth of 0.90%. ALLE closed at $133.09, on Wednesday, up 0.48%. The stock is currently at $137.

Read the original article on RTTNews ( https://www.rttnews.com/3187248/stock-alert-allegion-rises-in-pre-market-on-improved-earnings-outlook.aspx)

For comments and feedback: contact editorial@rttnews.com

Copyright(c) 2021 RTTNews.com All Rights Reserved