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Allegion Public Limited Company (NYSE: ALLE) is a global leader in safety and security solutions, known for its innovative products and services that ensure seamless access to buildings and spaces. Founded in 2013 as a spinoff from Ingersoll-Rand, Allegion has established itself as a trusted name in the security industry. The company boasts a robust portfolio of renowned brands such as Schlage, Von Duprin, LCN, and CISA, which are widely recognized for their high-quality security solutions.
Headquartered in Dublin, Ireland, Allegion operates on a global scale, with its products sold in nearly 130 countries. In fiscal 2023, the company reported revenues of $3.7 billion, with 75% of its sales generated in the United States. Allegion's comprehensive product range caters to various sectors, including homes, businesses, schools, and institutions, focusing on security around doors and adjacent areas.
Allegion continuously addresses modern security challenges through its commitment to innovation. The company recently showcased its latest interoperable electronic access control technologies and software at ISC West 2024. These advancements, including Schlage NDE and LE mobile-enabled wireless locks and the Schlage XE360 Series, demonstrate Allegion's dedication to integrating cutting-edge technology and seamless access solutions.
Furthermore, Allegion's strategic collaborations, such as the Allegion Alliance Network and partnerships with organizations like the Connectivity Standards Alliance and FiRA consortium, enhance its product offerings and industry leadership. Notably, the company's recent acquisitions of Boss Door Controls, Dorcas, and Unicel Architectural expand its market reach and product capabilities, reinforcing its position as a leader in security solutions.
Financially, Allegion remains strong, as evidenced by its recent first-quarter 2024 results. The company reported net revenues of $893.9 million and net earnings of $123.8 million. Allegion continues to invest in growth and return value to shareholders through dividends and share repurchases. The company's outlook for 2024 remains positive, with expectations of continued revenue growth and robust performance in institutional markets.
For more information about Allegion and its comprehensive range of security solutions, please visit www.allegion.com.
Silverstein Properties has launched resident keys in Apple Wallet at Silver Towers (606 West 42nd Street) in New York City, allowing residents to access their building, apartments, and amenities using iPhone or Apple Watch. The initiative, implemented in partnership with SwiftConnect, Allegion, and Kastle, eliminates the need for physical keys.
The system works through Silverstein's Inspire app using SwiftConnect's AccessCloud platform. Features include Express Mode for quick access without unlocking devices and Power Reserve for low-battery situations. The technology emphasizes security and privacy, with encrypted data protected against tampering. This implementation is part of Silverstein's Inspire program, which focuses on enhancing customer experience through hospitality services, programming, and workplace technology.
Allegion has become the first security solutions provider to support mobile credentials in Google Wallet on Wear OS smartwatches, launching December 9, 2024. The enhancement allows users to access Schlage mobile credentials, including student IDs and employee badges, directly from their smartwatches.
The solution offers three key benefits: convenience through elimination of physical cards, enhanced security with multiple protection layers, and seamless access via tap-to-unlock functionality. The technology is compatible with all NFC-enabled Schlage wireless locks, wall readers, and reader controllers, including NDE and LE Series, XE360 Series, AD Series, and Schlage Control electronic locks.
Allegion US has become the first security solutions provider to support mobile credentials in Google Wallet on Wear OS smartwatches, launching December 9, 2024. This enhancement allows users to access Schlage mobile credentials, including student IDs and employee badges, directly from their smartwatches.
The solution offers multiple benefits including convenient access without physical cards, enhanced security with multiple protection layers, and seamless entry through Schlage electronic locks with a simple tap. The technology supports all NFC-enabled Schlage products, including NDE and LE Series, XE360 Series, AD Series, Control electronic locks, MTB Series wall readers, and RC Series reader controllers.
Since 2019, Schlage has been developing wallet-based mobile credentials with Google Wallet and other industry leaders, maintaining its position at the forefront of this technology.
Allegion (NYSE: ALLE), a global security products and solutions provider, has announced that its board of directors has declared a quarterly dividend of $0.48 per ordinary share. The dividend will be paid on December 31, 2024, to shareholders who are on record as of December 17, 2024.
Allegion (NYSE: ALLE) has appointed Gregg Sengstack, executive chairperson of Franklin Electric Company, to its Board of Directors. Sengstack becomes the ninth member of the board, joining eight independent directors. He will serve on the Board's Audit and Finance Committee, Compensation and Human Capital Committee, and Corporate Governance and Nominating Committee.
Sengstack brings over 30 years of professional experience, having served as both CEO and CFO at Franklin Electric. His career at Franklin Electric began in 1988 as assistant treasurer, progressing through various leadership roles including CFO, senior vice president, president of Franklin Fueling Systems and International Water Group, and COO. He served as CEO from 2014 to July 2024 and was elected board chairperson in 2015. He also currently serves on the board of Woodward, Inc.
Allegion (NYSE: ALLE), a global security products and solutions provider, has reappointed Jeff Braun as senior vice president, general counsel, and corporate secretary. This role was previously held by Stacy Cozad, who has left the company. Braun brings extensive experience, having served as Allegion's general counsel for over 10 years. His background includes roles at Ingersoll Rand, General Motors, and a private law firm. Braun earned his juris doctor degree magna cum laude from Harvard University Law School.
Allegion (NYSE: ALLE) announced its participation in the 2024 Baird Global Industrial Conference at The Ritz-Carlton Chicago on November 13. CEO John H. Stone and CFO Mike Wagnes will present the company's long-term strategy during the event. Investors and interested parties can access a live listen-only webcast through Allegion's investor website at investor.allegion.com.
Allegion (ALLE) reported strong Q3-2024 results with net earnings per share of $1.99, up 12.4% YoY. Revenue reached $967.1 million, increasing 5.4% on a reported basis and 3.3% organically. Operating margin expanded to 22.2% from 21.0%, while adjusted operating margin rose 100 basis points to 24.2%. The company raised its full-year adjusted EPS guidance to $7.35-$7.45 while affirming revenue growth outlook of 2.5-3.5%. The Americas segment grew 5.6%, while International segment revenues increased 4.4%. Year-to-date available cash flow improved to $388.0 million, up $67.6 million versus prior year.
Allegion plc (NYSE: ALLE), a global security products and solutions provider, has announced its schedule for releasing 2024 third-quarter financial results. The company will release its results on Thursday, Oct. 24, before the market opens. Following this, John H. Stone, president and CEO, and Mike Wagnes, senior vice president and CFO, will host a conference call at 8 a.m. ET to review the results with analysts and investors.
A live webcast of the conference call will be available on Allegion's investor relations website. Interested parties can also join the call by dialing 1-877-883-0383 (US) or 1-412-902-6506 (international) and using Conference ID 3411999. It's recommended to dial in at least 10 minutes before the call starts. For those unable to attend live, a replay will be available on the company's website later that day.
Allegion plc (NYSE: ALLE) has announced a significant leadership change. The Board of Directors has elected Lauren B. Peters as its next chair, effective Sept. 11, 2024. Peters, who has served on Allegion's Board since 2021, will succeed Kirk S. Hachigian, who is retiring in June 2025. Peters brings extensive experience as the former executive VP and CFO of Foot Locker, Inc., with a track record of expanding profits and implementing innovative solutions.
The transition also includes Susan L. Main replacing Peters as the Audit and Finance Committee chair. This leadership shuffle aims to leverage Peters' strategic acumen and global business expertise to support Allegion's future growth in the security products and solutions industry.
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