09:59 AM EDT, 04/25/2024 (MT Newswires) -- Allegion's ( ALLE ) shares declined 1.9% in recent trading Thursday after the company posted Q1 adjusted earnings of $1.55 per diluted share, down from $1.58 per share a year earlier.

Analysts surveyed by Capital IQ expected $1.45.

Net revenue for the quarter ended March 31 was $893.9 million, down from $923 million a year earlier.

Analysts polled by Capital IQ expected $888.3 million.

For 2024, the company said it continues to expect adjusted EPS to be in the range of $7.00 to $7.15. Analysts polled by Capital IQ expect $7.08.

Revenue is still expected to grow 1.5% to 3.5%. Analysts surveyed by Capital IQ expect $3.74 billion.

Price: 124.10, Change: -2.44, Percent Change: -1.93