Shares of security hardware provider Allegion jumped 12.7% after the company reported second-quarter financial results that beat analysts' expectations and raised its full-year guidance. Revenue reached $1.15 billion, a 12.7% increase from the prior year and above the $1.12 billion consensus, while adjusted earnings of $2.40 per share comfortably exceeded the $2.22 estimate. Organic revenue rose 6.9% year on year, and EBITDA outperformed Wall Street estimates by a wide margin. The company raised its full-year adjusted EPS guidance to $8.93 at the midpoint. The stock move is rare for Allegion, which has had only three moves greater than 5% over the last year.
Allegion PLCAllegion reported Q2 earnings and revenue that beat estimates and raised full-year guidance.