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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 plc (NYSE: ALLE) will present its long-term strategy at the 2023 Bank of America Global Industrials Conference on Tuesday, March 21, in London. President and CEO John H. Stone, along with CFO Mike Wagnes, will lead the discussion. Investors can access a live webcast on Allegion's investor website or through a designated link. Allegion, a leader in security solutions with a revenue of $3.3 billion in 2022, offers prominent brands such as Schlage® and CISA®. The company focuses on securing people and assets across various sectors, including homes and businesses.
Allegion plc reported a strong fourth-quarter 2022 with net revenues of $861.5 million, up 21.5% year-over-year, and a net income of $135.3 million, resulting in an EPS of $1.53. Adjusted EPS was $1.60, reflecting a 44.1% increase. Full-year 2022 EPS decreased to $5.19 from $5.34, but adjusted EPS rose 9.6% to $5.69. Revenue for the year was $3.27 billion, up 14.1%, with strong contributions from its Access Technologies acquisition. Looking ahead, Allegion expects revenue growth of 9-10.5% for 2023, with adjusted EPS guidance of $6.30-$6.50.
Allegion plc has expanded its investment portfolio through Allegion Ventures, co-leading a Series A funding round for Stuf, a tech-enabled self-storage startup. Founded in 2020, Stuf partners with property owners to monetize underutilized spaces, enhancing cash flow and consumer access to storage options. The investment will support Stuf's market expansion and technology enhancement. Allegion Ventures Managing Director Bobby Prostko highlighted Stuf's innovative approach in modernizing self-storage. CEO Katharine Lau expressed enthusiasm for the partnership, emphasizing the demand for innovation in the evolving real estate landscape.
Allegion plc (NYSE: ALLE) has declared a quarterly dividend of $0.45 per ordinary share, marking a 10% increase from the previous year. This is the company's ninth consecutive annual dividend increase. The dividend reflects the board's strong confidence in Allegion's cash flow and long-term prospects, with a commitment to enhancing shareholder value. The dividend will be payable on March 31, 2023, to shareholders of record on March 15, 2023. In 2021, Allegion reported $2.9 billion in revenue, emphasizing its position as a leader in global security solutions.
Schlage, a leader in home security, unveiled the Schlage Encode Smart WiFi Lever on January 31, 2023, at the NAHB International Builders' Show. This new product enhances the existing Encode family, supporting standard single bore-hole doors, and aims to provide security and convenience for various residential applications.
Equipped with advanced features via the Schlage Home App, users can manage access remotely. With a retail price of $309.99, the Encode Smart WiFi Lever will be available this spring. The product has received high ratings for security and durability, further solidifying Schlage's reputation in the smart lock market.
Allegion plc (NYSE: ALLE) will release its 2022 fourth-quarter and full-year financial results on February 22, 2023, before market opening. A conference call will be held at 8 a.m. ET featuring CEO John H. Stone and CFO Mike Wagnes to discuss the results. Investors can access the live webcast on Allegion's website. For those unable to attend live, a replay will be available later that day. Allegion reported $2.9 billion in revenue in 2021 and provides security solutions globally through brands like Schlage and CISA.
Allegion has launched its integration with BadgePass ONE, a subscription software package that enables secure ID badge issuance and access control management. This new system utilizes Schlage's intelligent hardware for efficient and cost-effective access control solutions. Customers can manage access privileges through mobile devices, eliminating the need for on-site PCs. Key features include a flexible subscription model and real-time updates, streamlining implementation costs while enhancing security. This integration marks a progressive step toward cloud-based security systems.
DUBLIN--(BUSINESS WIRE)--Allegion plc (NYSE: ALLE) has completed its acquisition of plano. group, a software-as-a-service provider focused on workforce management solutions. This acquisition strengthens Allegion's existing portfolio, particularly enhancing its European brand, Interflex, and its SP-EXPERT software platform. Originally announced in November 2022, the deal aims to expand Allegion's reach in the advanced workforce management sector. plano will continue to cater to its advanced workforce management customers under the Interflex brand.
Allegion plc (NYSE: ALLE) has elected Kirk S. Hachigian as its next chairman, effective January 1, 2023, succeeding David D. Petratis, who retires on December 31, 2022. Hachigian has been on the board since Allegion became independent in 2013 and currently serves as the lead director. He will maintain his role in the Corporate Governance and Nominating Committee. Hachigian emphasized the company’s strength and resilience, attributing this to the visionary leadership of Petratis. This transition marks the establishment of an independent chairman for the board.
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