Allegion Q2 adjusted EPS $1.37, raises FY22 guidance; CEO transition and Access Tech acquisition complete

Allegion plc

2022-Q2 EPS reported $2.35 revenue$1,496,700,000

Q2 GAAP EPS $1.30 (vs $1.31); adjusted EPS $1.37 (+3.8% YoY); revenue $773.1M (+3.5% reported, +6.4% organic).
Americas segment revenue +7.8% (org +8%); non-residential up high teens, residential down mid-teens. International -8.5% (org +1.9%).
FY22 outlook raised: reported revenue growth 13-14% (org 9-10%); adjusted EPS $5.35-$5.45; available cash flow $420-440M.
John Stone assumed President and CEO on July 11, succeeding David Petratis who retired.
Completed acquisition of Stanley Access Technologies from Stanley Black & Decker on July 5; financed with $600M notes and $340M revolver draw.

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