RTTNews | Jul 23, 2020 05:53AM EDT

05:53 Thursday, July 23, 2020 (RTTNews.com) - While reporting financial results for the second quarter on Thursday, security products and solutions provider Allegion plc (ALLE) re-issued its earnings and revenue growth guidance for the full year 2020.

For fiscal 2020, the company now projects earnings in a range of $2.70 to $2.95 per share and adjusted earnings in a range of $4.15 to $4.30 per share on a revenue decline of 9 to 10 percent on a reported basis and 8 to 9 percent organically.

On average, analysts polled by Thomson Reuters expect the company to report earnings of $4.12 per share on a revenue decline of 7.4 percent to $2.64 billion for the year. Analysts' estimates typically exclude special items.

The company added that all regions are now projected to experience organic revenue declines, with Americas down 7.5 to 8.5 percent, EMEA down 9 to 10 percent and Asia Pacific down 10.5 to 12.5 percent.

In early April, the company had withdrawn its financial guidance for the full year 2020, until visibility in the global markets returned to more predictable levels amid the high uncertainty around the duration and severity of the coronavirus (COVID-19) pandemic.

Read the original article on RTTNews ( https://www.rttnews.com/3113574/allegion-reissues-fy20-adj-eps-outlook-above-estimates-quick-facts.aspx)

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