Allegion's 1Q Highlights: 6% Organic Growth and Margin Expansion Across All Three Segments
After a strong first quarter, wide-moat-rated Allegion remains on track to deliver on its 2019 financial goals (5% to 6% sales growth and 6% to 9% adjusted EPS growth). Sales grew 7% (6% organic) to $655 million, in line with the consensus estimate. A 10-basis-point improvement in adjusted operating margin to 17.1%, a slightly lower tax rate, and a lower share count contributed to 10% adjusted EPS growth to $0.88, which beat the consensus estimate by a penny. After reviewing Allegion's first-qua...
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