Allegion (ALLE) Q1 Earnings Top Estimates, Sales Down Y/Y

Allegion plc’s (ALLE) first-quarter 2024 adjusted earnings of $1.55 per share beat the Zacks Consensus Estimate of$ 1.41. However, the bottom line fell 1.9% year over year.Revenue DetailsIn the quarter under review, Allegion’s revenues were $893.9 million, declining 3.2% year over year. Organic sales in the quarter decreased 3.6% due to softness in the company’s residential and non-residential businesses. Allegion’s revenues missed the Zacks Consensus Estimate of$ 915 million.Acquired assets boosted sales b ...