Allegion plc ALLE reported impressive second-quarter 2021 results, with earnings surpassing estimates by 2.3%. This marks the sixth consecutive quarter of better-than-expected bottom-line results. Sales surpassed estimates by 10.6%.The company’s adjusted earnings in the quarter were $1.32 per share, surpassing the Zacks Consensus Estimate of $1.29. On a year-over-year basis, the bottom line jumped 43.5%.Revenue DetailsIn the reported quarter, Allegion’s net revenues were $746.9 million, up 26.7% year over year. Increase in organic sales and foreign currency translation positively impacted results by 23.8% and 3.7%, respectively, partially offset by 0.8% impact from divestitures.Also, the company’s top line surpassed the Zacks Consensus Estimate of $675 million.The company reported revenues under two segments. A brief discussion of the quarterly results is provided below:Revenues from Allegion Americas increased 23.7% year over year to $549.4 million, driven by strength in residential business and higher spending on non-residential discretionary projects.Organic sales increased 22.9% year over year and foreign currency translation had a positive impact of 0.8% on the same.Revenues from Allegion International increased 36% year over year to $197.5 million in the quarter, reflecting strong improvement across all major regions and businesses.Organic sales increased 26.6% year over year. Divestitures had a negative impact of 3.2% and foreign currency translation had a positive impact of 12.6% on sales.Margin ProfileIn the reported quarter, Allegion’s cost of sales grew 24.4% year over year to $426.4 million. Cost of sales was 57.1% of the quarter’s net sales. Gross profit increased 30% year over year to $320.5 million, while gross margin expanded 110 basis points (bps) to 42.9%.Selling and administrative expenses increased 16.7% year over year to $175.1 million. It represented 23.4% of net sales in the reported quarter versus 25.5% in the year-ago period. Adjusted earnings before interest, tax, depreciation and amortization were $165.8 million, reflecting an increase of 27.2%. Margin increased 10 bps year over year to 22.2%.Adjusted operating income in the quarter increased 31.5% year over year to $146.2 million. Adjusted margin was 19.6%, up from 18.9% a year ago. Interest expense was $12.4 million, down 4.6%.Balance Sheet & Cash FlowExiting the second quarter, Allegion had cash and cash equivalents of $460.2 million, up 16.7% from $394.3 million recorded in the last reported quarter. Long-term debt was $1,430.3 million, up from $1,429.8 million sequentially.It generated net cash of $267.5 million from operating activities in the first six months of 2021 compared with $128 million in the prior-year period. Capital expenditure totaled $17.9 million against $24.4 million invested in the year-ago period. Free cash flow increased 140.9% to $249.6 million.In the first six months of 2021, the company rewarded shareholders with a dividend payout of $64.6 million. The amount represents growth of 10.1% year over year. Amount spent on buying back shares totaled $199.8 million, up 112.3%.GuidanceFor 2021, the company predicts revenues to grow 7-7.5% year over year. The metric was predicted to increase 3-4% earlier. Organic sales are expected to rise 5.5-6% from a year ago. On a segmental basis, organic sales in Allegion Americas segment are expected to grow 4-4.5% year over year, while the same for Allegion International are likely to increase 8.5-9.5%.Adjusted earnings are expected in the range of $5.25-$5.40 per share, higher than $5.00-$5.15 guided earlier. Free cash flow for the year is expected within $490-$510 million, higher than $430-$450 million predicted earlier.Zacks Rank & Stocks to ConsiderThe company currently carries a Zacks Rank #3 (Hold).Some better-ranked stocks are AZZ Inc. AZZ, A. O. Smith Corporation AOS and Eaton Corporation, plc ETN. While AZZ currently sports a Zacks Rank #1 (Strong Buy), A. O. Smith and Eaton carry a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.AZZ delivered an earnings surprise of 21.24%, on average, in the trailing four quarters.A. O. Smith delivered an earnings surprise of 14.84%, on average, in the trailing four quarters.Eaton delivered an earnings surprise of 16.78%, on average, in the trailing four quarters. Bitcoin, Like the Internet Itself, Could Change Everything Blockchain and cryptocurrency has sparked one of the most exciting discussion topics of a generation. Some call it the “Internet of Money” and predict it could change the way money works forever. If true, it could do to banks what Netflix did to Blockbuster and Amazon did to Sears. Experts agree we’re still in the early stages of this technology, and as it grows, it will create several investing opportunities. Zacks’ has just revealed 3 companies that can help investors capitalize on the explosive profit potential of Bitcoin and the other cryptocurrencies with significantly less volatility than buying them directly. See 3 crypto-related stocks now >>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 Eaton Corporation, PLC (ETN): Free Stock Analysis Report A. O. Smith Corporation (AOS): Free Stock Analysis Report AZZ Inc. (AZZ): Free Stock Analysis Report Allegion PLC (ALLE): Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research