Allegion rises on Q4 profit beat

Allegion

20/02/2024 14:26

** Lock-maker Allegion's shares  ALLE.N  rise 2.2% to
$135.29 premarket
    ** Adjusted profit in Q4 was $1.68 per share, above
estimates of $1.59 per share - LSEG data
    ** Robust demand for security systems from healthcare and
education institutions helped offset co's weakness in demand
from residential buildings
    ** Sees full-year 2024 adjusted profit between $7.00 and
$7.15 per share, in line with estimates of $7.04 per share
    ** Q4 revenue rose 4.2% to $897.4 million from a year ago,
but missed analysts' estimates of $902.1 million - LSEG data
    ** Stock is up 4.5% in 2024 

 (Reporting by Aatreyee Dasgupta)
 ((Aatreyee.Dasgupta@thomsonreuters.com))