Third-quarter 2018 net earnings per share (EPS) of $1.21, compared with 2017 EPS of $0.94; Adjusted 2018 EPS of $1.23, up 20.6 percent compared with 2017 adjusted EPS of $1.02
Third-quarter 2018 revenue of $711.5 million, up 16.8 percent compared to 2017, up 8.5 percent on an organic basis
Third-quarter 2018 operating margin of 20 percent, compared with 2017 operating margin of 20.9 percent;
Adjusted operating margin of 20.9 percent, declined 140 basis points compared with 2017 adjusted operating margin of 22.3 percent due to dilution from acquisitions; 2018 acquisitions were dilutive to adjusted operating margins by 140 basis points
Updating outlook for 2018 full-year revenue and full-year EPS; Full-year 2018 reported revenue growth of 13 to 13.5 percent and organic revenue growth of 5 to 5.5 percent; Full-year 2018 EPS outlook of $4.23 to $4.35 and $4.43 to $4.50 per share on an adjusted basis
“I am pleased with our performance as we delivered another quarter of double-digit top-line revenue growth, with organic growth rates in the high-single digits,” said David D. Petratis, Allegion chairman, president and CEO. “Robust electronics growth as well as solid top-line performance across all three regions drove that strong organic growth, and end-market fundamentals remain healthy.
“I am also very pleased with the more than 20-percent increase in adjusted EPS as inflationary pressures continued to challenge operating margins. Excluding acquisitions, the base business margins were flat year over year, as the global team continues to drive price realization, productivity and other cost savings to mitigate significant inflationary pressures,” Petratis added.
Allegion Reports Third-quarter 2018 Financial Results
