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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.
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.
Allegion plc (NYSE: ALLE) announced a quarterly dividend of $0.41 per ordinary share, payable on Dec. 30, 2022, to shareholders of record on Dec. 16, 2022. The company has reported $2.9 billion in revenue for 2021, highlighting its position as a leader in security products and solutions. This announcement comes amidst ongoing challenges such as the global COVID-19 pandemic and supply chain constraints, which may impact future performance.
Allegion plc (NYSE: ALLE) has signed a definitive agreement to acquire the assets of plano, a Germany-based software-as-a-service (SaaS) workforce management solution provider. This acquisition is expected to close in Q1 2023, enhancing Allegion's Interflex brand with new SaaS capabilities and bolstering its recurring revenue strategy. The deal aims to strengthen Allegion's market presence in workforce management across sectors such as healthcare and retail. The specific financial terms of the transaction remain undisclosed.
Allegion plc (NYSE: ALLE) reported Q3 2022 net earnings of $114.6 million ($1.30 per share), down from $1.59 in Q3 2021. Adjusted EPS rose 5.1% to $1.64. Revenues reached $913.7 million, marking a 27.4% increase year-over-year. Operating margin decreased to 17.8% from 19.3% in 2021. The company affirmed 2022 revenue growth of 13-14% and improved organic growth guidance to 9.5-10.5%. It revised EPS outlook to $4.90-$5.00, impacted by acquisition costs. Cash flow decreased to $225.6 million due to increased working capital.
Allegion plc (NYSE: ALLE) will present its long-term strategy at the 2022 Baird Global Industrial Conference on Tuesday, November 8, 2022. The presentation will be led by President and CEO John H. Stone and CFO Mike Wagnes at The Ritz-Carlton Chicago. Investors can access a live webcast on Allegion's investor website. In 2021, Allegion reported revenues of $2.9 billion, focusing on seamless access solutions, including security products from renowned brands like Schlage and CISA.
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