Welcome to our dedicated page for Allegion Public Company news (Ticker: ALLE), a resource for investors and traders seeking the latest updates and insights on Allegion Public Company stock.
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.
Allegion reported first-quarter 2022 net revenues of $723.6 million, a 4.2% increase, and net earnings of $93 million, or $1.05 per share. Adjusted EPS of $1.07 reflects a 10.8% decline from 2021. The operating margin decreased to 16.2%, while adjusted operating margin dropped to 16.9%. The company raised its full-year 2022 revenue growth outlook to 7.5-9% and reaffirmed EPS guidance between $5.50 and $5.70. Allegion announced the upcoming acquisition of Stanley Access Technologies, enhancing its product portfolio in the Americas.
Allegion (NYSE: ALLE) has announced its agreement to acquire Stanley Access Technologies LLC from Stanley Black & Decker (NYSE: SWK) for $900 million, with an effective value of $810 million after tax benefits. This strategic purchase aims to enhance Allegion's access solutions portfolio, adding a leader in automatic entrance solutions and enabling expansion into high-growth markets. Access Technologies reported $340 million in 2021 net sales. The acquisition is expected to close in Q3 2022, aligning with Allegion's broader business growth strategy.
Stanley Black & Decker (NYSE: SWK) has agreed to sell its Access Technologies business to Allegion plc (NYSE: ALLE) for $900 million in cash. This division generated approximately $340 million in revenue in 2021. CEO James Loree emphasized that the sale is part of a strategy to enhance shareholder value and focus on core business segments, including Tools & Outdoor and Industrial. The proceeds will fund share repurchases and reduce debt. The transaction is subject to regulatory approval and is expected to affect Q1 results reported on April 28, 2022.
DACK has partnered with Yonomi, a connected home integration platform under Allegion, to enhance its mobile-first SaaS platform aimed at short-term rental operators. This integration will offer seamless digital experiences for guests, including digital key management and contactless services. Yonomi, used in over 1.2 million homes globally, simplifies the connection and automation of smart home devices. Both companies aim to leverage connected home technology to improve guest experiences in the growing short-term rental market.
Allegion plc (NYSE: ALLE) has declared a quarterly dividend of $0.41 per share, payable on June 30, 2022, to shareholders on record as of June 16, 2022. This announcement highlights the company's commitment to returning value to its shareholders amidst ongoing challenges like supply chain disruptions and inflation, as noted in their forward-looking statements. Allegion reported $2.9 billion in revenue for 2021, reinforcing its position as a global leader in security products.
On April 5, 2022, Allegion U.S. released its 2022 Health Care Trends Report, detailing how COVID-19 reshaped security and safety measures in healthcare. The report derived insights from 100 decision-makers across major U.S. health systems. Key findings included that 88% of professionals noted infrastructure impacts from the pandemic, with substantial adoption of touchless technology and electronic access controls. Additionally, 55% of hospitals standardized their purchasing strategies, reflecting a shift towards enhanced patient safety and staff satisfaction.
Allegion plc (NYSE: ALLE) will announce its Q1 2022 financial results on April 26, 2022, prior to market opening. Following the release, CEO David D. Petratis and CFO Mike Wagnes will host a conference call at 8 a.m. ET to discuss the financial outcomes with analysts and investors. The call will be accessible via webcast on Allegion's investor relations page. For those unable to attend live, a replay will be available later that day. Allegion reported $2.9 billion in revenue for 2021 and specializes in security solutions.
Allegion showcases innovative contactless security solutions at ISC West 2022 to address post-pandemic security challenges. The company emphasizes interoperability and open architecture in their offerings, including mobile-enabled and touchless access solutions. Key products such as the Overtur collaboration platform and Schlage wireless locks highlight this commitment. Allegion, with a revenue of $2.9 billion in 2021, aims to support healthy buildings and enhance user experiences through technological advancements and partnerships.
On March 15, 2022, Allegion announced that its Schlage® MTB mobile enabled multi-technology readers have received the SIA OSDP Verified mark. This certification confirms that the readers meet stringent security and interoperability standards, enhancing confidence for integrators and users. Key benefits include increased interoperability among devices, higher security via AES-128 encryption, and ease of use with predefined encryption and authentication. This aligns with Allegion's commitment to industry standards and strengthens its position in the security market.
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