Allegion (ALLE) Q4 Earnings Top Estimates, Revenues Up Y/Y

Allegion plc’s (ALLE) fourth-quarter 2023 adjusted earnings of $1.68 per share beat the Zacks Consensus Estimate of $1.57. The bottom line improved 5% year over year.Revenue DetailsIn the quarter under review, Allegion’s revenues were $897.4 million, increasing 4.2% from the year-ago quarter. Organic sales in the quarter increased 2.6% due to solid growth in the company’s non-residential business. However, Allegion’s revenues missed the Zacks Consensus Estimate of $913 million.Acquired assets boosted sales ...