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.
Stanley Black & Decker (NYSE: SWK) has agreed to sell its Access Technologies business to Allegion plc (NYSE: ALLE) for $900 million in cash. This division generated approximately $340 million in revenue in 2021. CEO James Loree emphasized that the sale is part of a strategy to enhance shareholder value and focus on core business segments, including Tools & Outdoor and Industrial. The proceeds will fund share repurchases and reduce debt. The transaction is subject to regulatory approval and is expected to affect Q1 results reported on April 28, 2022.
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DACK has partnered with Yonomi, a connected home integration platform under Allegion, to enhance its mobile-first SaaS platform aimed at short-term rental operators. This integration will offer seamless digital experiences for guests, including digital key management and contactless services. Yonomi, used in over 1.2 million homes globally, simplifies the connection and automation of smart home devices. Both companies aim to leverage connected home technology to improve guest experiences in the growing short-term rental market.
Allegion plc (NYSE: ALLE) has declared a quarterly dividend of $0.41 per share, payable on June 30, 2022, to shareholders on record as of June 16, 2022. This announcement highlights the company's commitment to returning value to its shareholders amidst ongoing challenges like supply chain disruptions and inflation, as noted in their forward-looking statements. Allegion reported $2.9 billion in revenue for 2021, reinforcing its position as a global leader in security products.
On April 5, 2022, Allegion U.S. released its 2022 Health Care Trends Report, detailing how COVID-19 reshaped security and safety measures in healthcare. The report derived insights from 100 decision-makers across major U.S. health systems. Key findings included that 88% of professionals noted infrastructure impacts from the pandemic, with substantial adoption of touchless technology and electronic access controls. Additionally, 55% of hospitals standardized their purchasing strategies, reflecting a shift towards enhanced patient safety and staff satisfaction.
Allegion plc (NYSE: ALLE) will announce its Q1 2022 financial results on April 26, 2022, prior to market opening. Following the release, CEO David D. Petratis and CFO Mike Wagnes will host a conference call at 8 a.m. ET to discuss the financial outcomes with analysts and investors. The call will be accessible via webcast on Allegion's investor relations page. For those unable to attend live, a replay will be available later that day. Allegion reported $2.9 billion in revenue for 2021 and specializes in security solutions.
Allegion showcases innovative contactless security solutions at ISC West 2022 to address post-pandemic security challenges. The company emphasizes interoperability and open architecture in their offerings, including mobile-enabled and touchless access solutions. Key products such as the Overtur collaboration platform and Schlage wireless locks highlight this commitment. Allegion, with a revenue of $2.9 billion in 2021, aims to support healthy buildings and enhance user experiences through technological advancements and partnerships.
On March 15, 2022, Allegion announced that its Schlage® MTB mobile enabled multi-technology readers have received the SIA OSDP Verified mark. This certification confirms that the readers meet stringent security and interoperability standards, enhancing confidence for integrators and users. Key benefits include increased interoperability among devices, higher security via AES-128 encryption, and ease of use with predefined encryption and authentication. This aligns with Allegion's commitment to industry standards and strengthens its position in the security market.
Allegion plc (NYSE: ALLE) will present its long-term strategy at the Bank of America Global Industrials Conference on March 15, 2022. CFO Mike Wagnes will lead the discussion. Investors can access a live webcast of the presentation through Allegion’s investor website or by clicking here. Allegion generated $2.9 billion in revenue in 2021, providing security solutions globally under renowned brands like Schlage® and CISA®.
Allegion reported fourth-quarter 2021 net earnings of $112.7 million or $1.26 per share, compared to $1.01 in 2020. Adjusted EPS of $1.11 is down 25.5% year-over-year. Revenues declined to $709.2 million, down 2.5% from 2020. Full-year EPS rose to $5.34, up from $3.39, with annual revenues of $2.87 billion, a 5.4% increase. The company anticipates a strong 2022, projecting revenue growth of 6-7.5% and EPS between $5.50 and $5.70. Despite ongoing supply chain issues, record backlog supports future growth.