Welcome to our dedicated page for Allegion news (Ticker: ALLE), a resource for investors and traders seeking the latest updates and insights on Allegion stock.
Allegion plc designs and manufactures security and access solutions for residential, commercial and institutional settings. Its portfolio includes hardware, software and electronic products such as locks, door closers, exit devices, steel doors and frames, access control systems and workforce productivity systems.
Company news commonly covers quarterly results, revenue outlook, organic growth, acquisition and divestiture effects, dividends and share repurchase actions. Product updates focus on electronic access control, mobile credentials, data-center security applications, design and specification tools, and brand activity across CISA, Interflex, LCN, Schlage, SimonsVoss and Von Duprin.
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Allegion plc (NYSE: ALLE) reported a strong first-quarter 2023, achieving net earnings per share (EPS) of $1.40, a notable increase from $1.05 in 2022. Adjusted EPS also rose by 39.8% to $1.58, compared to $1.13 last year. Revenues reached $923.0 million, reflecting a 27.6% increase year-over-year, with organic growth at 15.0%. The operating margin improved to 18.5%, while the adjusted operating margin increased by 290 basis points to 20.8%. Allegion raised its full-year 2023 revenue growth outlook to 11.5% to 13.5% and adjusted EPS guidance to $6.55 to $6.75. The Americas segment showed strong growth, up 42%, while international revenues declined 9.7% due to weak markets. Interest expenses rose significantly due to increased debt.