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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.
Allegion US announced the launch of Schlage NDE and LE mobile-enabled wireless locks featuring an optional Si capability. These locks are compatible with HID smart cards and Seos credentials, enhancing access control in buildings. The new locks allow facility managers to integrate advanced security features deeper into their premises, improving interoperability. Allegion emphasizes a commitment to open architecture and flexibility, catering to customer needs while leveraging existing credential investments.
Allegion plc (NYSE: ALLE) hosted virtual field trips for over 500 students as part of its initiative during National Manufacturing Month. This annual event aims to bridge the skills gap projected to leave 2.1 million manufacturing jobs unfilled by 2030. The company pivoted to virtual events in 2020 due to the pandemic. The online experiences featured tours, employee interviews, and presentations from industry leaders. Allegion emphasizes its commitment to supporting educators and offering career opportunities, including tuition reimbursement and apprenticeship programs.
Allegion plc (NYSE: ALLE) will present its long-term strategy at the 2021 Baird Global Industrial Conference on Tuesday, Nov. 9. The discussion will be led by Chairman, President, and CEO David D. Petratis, alongside Senior VP and CFO Patrick Shannon. Interested stakeholders can access the live webcast on Allegion's investor website. Allegion is a leader in security solutions, boasting $2.7 billion in revenue for 2020 and offering products globally through renowned brands such as Schlage and LCN.
Allegion plc reported third-quarter 2021 net earnings of $143.5 million ($1.59 per share), a slight increase from $1.58 in 2020. Adjusted EPS fell 6.6% to $1.56, while revenues reached $717 million, a 1.6% decline year-over-year. The operating margin decreased to 19.3% from 22% in 2020, driven by rising costs and supply chain issues. The company reaffirmed its full-year 2021 outlook, expecting revenue growth of 4 to 4.5% and EPS between $4.95 and $5.05. Allegion emphasized robust demand for non-residential products amid ongoing supply chain challenges.
On October 18, 2021, Allegion announced a significant integration between its Overtur™ digital platform and Software for Hardware®. This collaboration enhances project specifications, allowing users to export hardware data seamlessly, thereby reducing manual entry errors and saving time. The integration will be showcased at the DHI conNextions event. Overtur connects all building phases for door security and facilitates collaboration among project teams, ultimately streamlining the construction process.
Allegion plc (NYSE: ALLE) has received the prestigious 2021 Robert W. Campbell Award from the National Safety Council (NSC) for its commitment to safety and environmental management. The award was presented on October 11 during the NSC Safety Congress & Expo in Orlando, Florida. Allegion's initiatives, including the "Allegion Safety Initiative," have significantly lowered workplace injuries since its separation in 2013. The company emphasizes integrating safety into its business operations and aims to inspire other organizations to prioritize safety.
Allegion plc (NYSE: ALLE) received the prestigious 2021 Robert W. Campbell Award from the National Safety Council on October 11, 2021, during the NSC Safety Congress & Expo in Orlando, Florida. This award recognizes organizations that integrate environmental, health, and safety management into their business operations. Allegion's Safety Initiative, which has led to significant reductions in workplace injuries, exemplifies its commitment to safety. The award highlights Allegion's mission to positively impact workplace safety and community health.
Allegion plc (NYSE: ALLE) updated its 2021 outlook due to supply chain challenges affecting revenue realization and margin pressure. The company anticipates a revenue growth of 4% to 4.5% and EPS between
On Sept. 28, 2021, Allegion US announced that its Schlage AD-302 FIPS 201-2 electronic lock, in collaboration with Gallagher, received approval from the US Government. This is the first electronic lock included on the GSA Approved Product List, allowing easier access for government procurement. The lock integrates with Gallagher's Command Centre software and includes features for enhanced security, such as compliance with federal standards. The solution aims to provide a cost-effective option for government entities while ensuring a seamless upgrade path for future technologies.
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