Allegion plc ALLE has reported mixed results for second-quarter 2020, wherein its adjusted earnings surpassed the Zacks Consensus Estimate, while revenues missed the same.Earnings & Revenues DeclinesQuarterly adjusted earnings were 92 cents per share, beating the Zacks Consensus Estimate of 79 cents. Notably, the bottom line was 27% lower than the year-ago figure of $1.26. The decline can be primarily attributed to lower sales.Revenues totaled $589.5 million, down 19.4% year over year. Also, the top line missed the consensus estimate of $600 million. Revenues fell 18.5% on an organic basis. The top-line performance was adversely impacted by operational shutdowns across all regions, owing to the coronavirus outbreak-related issues.Allegion PLC Price, Consensus and EPS Surprise Allegion PLC price-consensus-eps-surprise-chart | Allegion PLC QuoteSegmental BreakupRevenues in the Americas fell 18.5% year over year to $444.3 million, owing to softness in non-residential, residential and electronics businesses.EMEIA (Europe, Middle East, India and Africa) revenues declined 21.9% to $111 million on soft end markets amid the pandemic, adverse impacts of divestitures, and unfavorable foreign exchange movements.Revenues in the Asia Pacific fell 22.1% to $34.2 million in the quarter, reflecting weak end markets in Australia and the residential market in China as well as adverse impacts of unfavorable foreign exchange movements.Costs & Margins DetailsIn the second quarter, Allegion’s cost of sales decreased 16.5% year over year to $342.9 million. Gross profit fell 23.1% to $246.6 million, while gross margin contracted 210 basis points (bps) to 41.8%.Selling and administrative expenses decreased 14.2% year over year to $150.1 million.Adjusted operating margin contracted 260 bps to 18.9%.Balance Sheet & Cash FlowAs of Jun 30, 2020, Allegion had cash and cash equivalents of $302.4 million, down from $355.3 recorded on Dec 31, 2019. Long-term debt was $1,428.5 million, up from $1,427.6 million recorded at the end of 2019.In the first six months of 2020, the company generated net cash of $128 million from operating activities compared with $107 million generated in the year-ago comparable period. Capital expenditure totaled $24.4 million compared with $29.3 million in the year-ago period.2020 GuidanceAllegion re-issued outlooks for 2020, assuming no further disruptions associated with the COVID-19 outbreak.Adjusted earnings per share are expected to be $4.15 to $4.30, suggesting a year-over-year decline of 13.6% at the mid-point.The company expects 2020 revenues to decline 9-10% on a reported basis, and 8-9% on an organic basis.Adjusted effective tax rate is anticipated to be 13.5-14.5% for the year.Available cash flow is expected to be $350-$370 million.Zacks Rank & Stocks to ConsiderThe company currently carries a Zacks Rank #2 (Buy).Some other top-ranked stocks are Altra Industrial Motion Corp. AIMC, Berry Global Group, Inc. BERY and Dover Corporation DOV. All the companies presently carry a Zacks Rank #2. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.Altra Industrial delivered an earnings surprise of 9.78%, on average, in the trailing four quarters.Berry Global delivered an earnings surprise of 6.63%, on average, in the trailing four quarters.Dover delivered an earnings surprise of 7.13%, on average, in the trailing four quarters.The Hottest Tech Mega-Trend of AllLast year, it generated $24 billion in global revenues. By 2020, it's predicted to blast through the roof to $77.6 billion. Famed investor Mark Cuban says it will produce "the world's first trillionaires," but that should still leave plenty of money for regular investors who make the right trades early.See Zacks' 3 Best Stocks to Play This Trend >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Dover Corporation (DOV): Free Stock Analysis Report Altra Industrial Motion Corp. (AIMC): Free Stock Analysis Report Berry Global Group, Inc. (BERY): Free Stock Analysis Report Allegion PLC (ALLE): Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research