Fourth-quarter 2017 earnings per share (EPS) of $0.10, compared with 2016 EPS of $0.77; 2017 adjusted EPS of $1.11, compared with 2016 adjusted EPS of $0.81; Reported EPS for fourth-quarter 2017 includes a $53.5 million charge or $0.56 per share related to U.S. tax reform, as well as a $43.2 million charge or $0.40 per share related to debt refinancing costs; Reported and adjusted EPS for fourth-quarter 2016 include a $15 million or $0.10 per share environmental remediation charge
Fourth-quarter 2017 revenue of $623 million, up 9.4 percent compared to 2016 and up 6.1 percent on an organic basis
Full-year 2017 EPS of $2.85, compared with 2016 EPS of $2.36; 2017 adjusted EPS of $3.96, up 18.6 percent compared with 2016 adjusted EPS of $3.34
Full-year 2017 revenue of $2.41 billion, up 7.6 percent compared to 2016 and up 5.7 percent on an organic basis
Full-year 2017 available cash flow was down $37.1 million to $297.9 million, inclusive of a previously announced $50 million discretionary pension funding payment made in the first quarter
Full-year 2018 reported revenue growth is forecasted to be up 10.5 to 11.5 percent, with organic revenue growth projected to be up 4 to 5 percent; Full-year 2018 EPS guidance of $4.20 to $4.35 and $4.35 to $4.50 on an adjusted basis
DUBLIN (Feb. 20, 2018) - Allegion plc (NYSE: ALLE), a leading global provider of security products and solutions, today reported fourth-quarter 2017 net revenues of $623 million and net earnings of $9.6 million, or $0.10 per share. Excluding charges related to restructuring, acquisitions, tax reform and debt refinancing costs, adjusted net earnings were $106.1 million or $1.11 per share, up 37 percent when compared with fourth-quarter 2016 adjusted EPS of $0.81. Reported net earnings for fourth-quarter 2017 include a $53.5 million charge or $0.56 per share related to U.S. tax reform, as well as a $43.2 million charge or $0.40 per share related to debt refinancing costs. Reported and adjusted net earnings for fourth-quarter 2016 include a $15 million charge or $0.10 per share environmental remediation charge.
Fourth-quarter 2017 net revenues increased 9.4 percent, when compared to the prior year period (up 6.1 percent on an organic basis). Reported revenues reflect strong organic growth as well as benefits from foreign currency and acquisitions. The organic growth was driven by strong performance across all regions.
The Americas segment revenues increased 6.4 percent (up 4.8 percent on an organic basis). The region had solid growth in mechanical products and continued strength in electronic product categories in the fourth quarter of 2017. The organic growth was driven by mid-single digit growth in both non-residential and residential markets. Price realization continued to be strong.
The EMEIA segment revenues increased 16.5 percent (up 7.7 percent on an organic basis), reflecting solid growth across most business units and geographies. Pricing was positive in the quarter, contributing to the organic growth. Total revenue growth was supported by favorable currency impacts.
The Asia-Pacific segment revenues increased 19.1 percent (up 16.4 percent on an organic basis). Organic revenue growth was driven primarily by volume across most businesses and geographies. Favorable currency contributed to total revenue growth.
Fourth-quarter 2017 operating margin was 20.7 percent, compared with 17.1 percent in 2016. The adjusted operating margin in fourth-quarter 2017 was 21.7 percent, compared with 17.9 percent in 2016. Both reported and adjusted operating margin for fourth-quarter 2016 included a $15 million or 260-basis-point environmental remediation charge. Operating margins expanded - both including and excluding the environmental charge from the previous year - with the operational improvement reflecting good leverage on incremental volume combined with productivity, which more than offset inflation and incremental investments.
“Allegion's fourth-quarter results capped off a very strong year of solid performance in all regions, both on the top-line growth and operating performance,” said David D. Petratis, Allegion chairman, president and CEO. “With projected favorable market trends and continued execution of our growth initiatives, we are poised for further success in 2018. Additionally, our recently announced accretive acquisitions demonstrate our commitment to deploy capital to drive shareholder value.”
The following information was filed by Allegion Plc (ALLE) on Tuesday, February 20, 2018 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.
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Ticker: ALLE CIK: 1579241 Form Type:10-K Annual Report Accession Number: 0001579241-18-000007 Submitted to the SEC: Tue Feb 20 2018 4:02:17 PM EST Accepted by the SEC: Tue Feb 20 2018 Period: Sunday, December 31, 2017 Industry: Detective Guard And Armored Car Services