Allegion(ALLE)2025-04-24 10:01Financial Performance - Allegion reported Q1 2025 net revenues of $941.9 million, a 5.4% increase compared to Q1 2024, with organic revenue growth of 4.0%[3][4] - Net earnings for Q1 2025 were $148.2 million, or $1.71 per share, representing a 21.3% increase in EPS compared to $1.41 in Q1 2024[6][24] - Adjusted net earnings were $161.2 million, or $1.86 per share, up 20.0% from $1.55 in the prior year[3][6] - Operating income for Q1 2025 was $196.4 million, a 14.1% increase, with an operating margin of 20.9%, up from 19.3%[5][6] - Total net revenues for Q1 2025 reached $941.9 million, compared to $893.9 million in Q1 2024, reflecting a year-over-year increase of 5.4%[27] - Operating income for the total company improved to $196.4 million in Q1 2025, compared to $172.1 million in Q1 2024, marking a 14.1% increase[27] - Net earnings for Q1 2025 increased to $148.2 million, up from $123.8 million in Q1 2024, representing a growth of 19.6%[30] Segment Performance - The Americas segment revenues increased by 6.8%, with an organic growth of 4.9%, driven by price realization and volume growth[6][7] - Allegion Americas segment reported net revenues of $757.8 million, a 6.8% increase from $709.3 million in the same period last year[33] - The International segment revenues decreased by 0.3%, but showed a 0.9% organic growth, primarily due to price increases[8] - Organic revenue growth for Allegion Americas was 4.9% in Q1 2025, compared to a decline of 4.3% in Q1 2024[36] - Allegion International segment experienced a slight revenue decline of 0.3% in Q1 2025, while organic growth was 0.9%[36] Cash Flow and Financial Position - Year-to-date available cash flow for 2025 was $83.4 million, an increase of $59.5 million compared to the prior-year period[11] - Available cash flow for Q1 2025 was $83.4 million, significantly higher than $23.9 million in Q1 2024[34] - Cash and cash equivalents at the end of Q1 2025 totaled $494.5 million, up from $391.8 million at the end of Q1 2024[34] Future Outlook - Allegion expects full-year 2025 reported EPS to be in the range of $7.05 to $7.25, or $7.65 to $7.85 on an adjusted basis[16] - Allegion estimates tariff costs of approximately $80 million in 2025, expecting to offset these costs through pricing actions[15] Shareholder Actions - The company repurchased $40.0 million in ordinary shares during Q1 2025, consistent with the previous year[34] Tax Efficiency - The effective income tax rate for Q1 2025 was 15.4%, down from 19.0% in Q1 2024, indicating improved tax efficiency[30] Acquisitions - The company has acquired two businesses in Q1 2025, Next Door Company and Lemaar, to expand its core operations[3][6]