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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 (NYSE: ALLE) will participate in the 2024 KeyBanc Capital Markets Industrials & Basic Materials Conference. Senior Vice President and CFO Mike Wagnes will discuss the company's long-term strategy at the event. The conference is scheduled for Wednesday, May 29, at the InterContinental Hotel in Boston.
Allegion, a global security products and solutions provider, announced the pricing of $400 million of 5.600% senior unsecured notes due 2034 by its subsidiary, Allegion US Holding Company. The offering is expected to close on May 29, 2024, subject to customary closing conditions. The net proceeds will be used to repay $400 million of 3.200% senior notes maturing on October 1, 2024. BofA Securities, Citigroup Global Markets, and Wells Fargo Securities are among the joint book-running managers for the offering. The notes will be guaranteed by Allegion upon issuance.
Allegion (NYSE: ALLE) has extended and increased its senior unsecured revolving credit facility to $750 million from the previous $500 million. This new five-year facility, which remains unsecured and maintains investment-grade terms, enhances Allegion's liquidity. It allows for revolving loans, letters of credit, and swingline loans in USD, Euro, and GBP. The term loan facility, with $221.9 million outstanding as of March 31, 2024, remains unchanged and will mature on November 18, 2026. The commitment under the new facility will terminate on May 20, 2029, according to Mike Wagnes, Allegion's CFO.
Allegion (NYSE: ALLE) announced the expansion of its Schlage Indication Solutions portfolio, adding three new lines of indication trims designed for K-12 and higher education, as well as healthcare and privacy applications. The new trims feature 180-degree visibility, tamper-resistance, and large viewing windows for enhanced security and peace of mind. Built to withstand high-abuse environments, they achieve a Grade 1 BHMA rating, offering top-tier durability and reliability. These solutions also cater to dual indication needs, making them suitable for various settings like hospitals and retail. The new trims are available in multiple finishes and lever designs and are now ready for purchase.
STANLEY Access Technologies, part of the Allegion family, introduces enhanced Dura-Storm door products designed for increased structural resilience in commercial and public buildings. These doors exceed safety standards for coastal regions, providing protection against windborne debris and hurricane-force wind loads. Key features include code-driven compliance, expanded versatility with additional sizes and configurations, and enhanced energy efficiency with laminated-insulated glass.