Core Insights - Allegion plc (ALLE) is experiencing growth in its Americas segment, with a revenue increase of 3.7% in Q4 2023, driven by strong non-residential business momentum [1] - The international segment also showed positive performance, with a revenue growth of 5.9% in Q4 2023, supported by demand in electronics and software solutions [1] - For 2024, Allegion anticipates total revenue growth of 1.5-3.5% and organic sales growth of 1-3% compared to the previous year [1] - The company is focused on expanding its business through acquisitions, including the purchase of Montajes electronics Dorcas S.L. in March 2024 and Boss Door Controls in February 2024, which are expected to enhance its product offerings [2] - Allegion's acquisitions in 2023 contributed to a 7.9% increase in sales [2] - The company is committed to shareholder value, having paid $158.7 million in dividends in 2023, a 10.3% increase year-over-year, and repurchased 0.5 million shares for $59.9 million [2] - Allegion announced a 7% increase in its quarterly dividend rate in February 2024 [2] - Over the past three months, Allegion's stock has gained 17.8%, outperforming the industry growth of 13.1% [2] Challenges - There is a noted softness in the Americas segment due to decreased demand for residential products, which is expected to continue given current market conditions [3] - The mechanical portfolio is also facing lower volumes, which may negatively impact Allegion's near-term performance [3] - The cost of goods sold has risen by 6.1% year-over-year in 2023, primarily due to increased raw material costs, despite cost-cutting measures [3] - Selling, general, and administrative expenses increased by 17.6% in 2023, adding to the financial pressures [3]

America's Most Trusted® Lock Brand1 Provides Additional Convenience to Users of Leading Home Rental Marketplace CARMEL, Ind., March 12, 2024 /PRNewswire/ -- Schlage®, a leading provider of home security and access solutions for over a century, today announced that its smart lock integration with Airbnb is now live. From today, most Airbnb Hosts with listings in the US and Canada will have seamless access to the industry-leading Schlage Encode™ Smart WiFi Lock Family directly within the Airbnb app, improving ...

DUBLIN--(BUSINESS WIRE)--Allegion plc (NYSE: ALLE) Senior Vice President and Chief Financial Officer Mike Wagnes will discuss the company’s long-term strategy at the 2024 Bank of America Global Industrials Conference on Wednesday, March 20. The conference will be held at The Landmark Hotel in London. A live listen-only webcast will be accessible via Allegion’s investor website at investor.allegion.com or directly by clicking here. About Allegion Allegion (NYSE: ALLE) is a global pioneer in seamless acces ...

Allegion plc (ALLE) recently completed the acquisition of electro-mechanical access control solutions provider — Montajes electronics Dorcas S.L. (“Dorcas”). The financial terms of the transaction were kept under wraps.Allegion’s shares inched up 1.6% yesterday to eventually close the trading session at $128.79.Headquartered in Siete Aguas, Spain, Dorcas specializes in manufacturing electro-mechanical and electro-magnetic locks, electric strikes, complementary access control solutions and door control produ ...

DUBLIN--(BUSINESS WIRE)--Allegion plc (NYSE: ALLE), a leading global security products and solutions provider, has acquired, through one of its wholly owned subsidiaries, Dorcas (Montajes electronicos Dorcas S.L.). Dorcas is a leading manufacturer of electro-mechanical access control solutions. The privately held company is based in Siete Aguas (Valencia region), Spain, where it specializes in the production of electric strikes, electro-mechanical and electro-magnetic locks, as well as complementary access ...

Leading Lock Brand Ranked Highest in Reviews and Trust Rating Amongst Competitors CARMEL, Ind., Feb. 26, 2024 /PRNewswire/ -- Schlage®, a leading provider of home security and access solutions for over a century, has been named the top door lock and hardware brand in Lifestory Research's America's Most Trusted® study for the fifth consecutive year. For its 2024 America's Most Trusted study, Lifestory Research surveyed over 3,700 consumers considering purchasing door locks and hardware sets between January a ...

Allegion plc’s (ALLE) fourth-quarter 2023 adjusted earnings of $1.68 per share beat the Zacks Consensus Estimate of $1.57. The bottom line improved 5% year over year.Revenue DetailsIn the quarter under review, Allegion’s revenues were $897.4 million, increasing 4.2% from the year-ago quarter. Organic sales in the quarter increased 2.6% due to solid growth in the company’s non-residential business. However, Allegion’s revenues missed the Zacks Consensus Estimate of $913 million.Acquired assets boosted sales ...

Q4-2023 Earnings Call Cautionary Statements Forward-Looking Statements This presentation contains "forward-looking statements," which are statements that are not historical facts, including, but not limited to, statements related to the Key Drivers for 2024, Full-Year 2024 Outlook, and statements regarding market trends, electronics growth, global software solutions business, the company's fin ...

Allegion plc (NYSE:ALLE) Q4 2023 Earnings Conference Call February 20, 2024 8:00 AM ET Company Participants Josh Pokrzywinski - VP, IR John Stone - President & CEO Mike Wagnes - SVP & CFO Conference Call Participants Joe O'Dea - Wells Fargo Vivek Srivastava - Goldman Sachs Jeffrey Sprague - Vertical Research Partners Julian Mitchell - Barclays Brett Linzey - Mizuho Tim Wojs - Baird Andrew Obin - Bank of America Chris Snyder - UBS Operator Good morning, and welcome to the Allegion Fourth Quarter 2023 Earning ...

Allegion (ALLE) came out with quarterly earnings of $1.68 per share, beating the Zacks Consensus Estimate of $1.57 per share. This compares to earnings of $1.60 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of 7.01%. A quarter ago, it was expected that this security device maker would post earnings of $1.71 per share when it actually produced earnings of $1.94, delivering a surprise of 13.45%.Over the last four quarters, the co ...