Allegion Plc Stock Price, News & Analysis

Allegion plc (NYSE: ALLE) has announced a significant leadership change. The Board of Directors has elected Lauren B. Peters as its next chair, effective Sept. 11, 2024. Peters, who has served on Allegion's Board since 2021, will succeed Kirk S. Hachigian, who is retiring in June 2025. Peters brings extensive experience as the former executive VP and CFO of Foot Locker, Inc., with a track record of expanding profits and implementing innovative solutions.

The transition also includes Susan L. Main replacing Peters as the Audit and Finance Committee chair. This leadership shuffle aims to leverage Peters' strategic acumen and global business expertise to support Allegion's future growth in the security products and solutions industry.

Allegion plc (NYSE: ALLE), a global leader in security products and solutions, has announced a quarterly dividend of $0.48 per ordinary share. The dividend will be paid on Sept. 30, 2024, to shareholders on record as of Sept. 20, 2024. This announcement demonstrates Allegion's commitment to returning value to its shareholders and maintaining a consistent dividend policy. The declaration of a dividend can be seen as a positive sign of the company's financial health and confidence in its future performance.

Allegion plc (NYSE: ALLE), a global security products provider, has released its 2023 ESG metrics and digital annual report. Key highlights include:

• 16% decrease in water usage intensity
• 30% decrease in greenhouse gas emissions intensity
• 87% waste diversion rate
• 26% carbon-free electricity usage
• 42% decrease in lost time incident rate
• 75% diversity on the Board of Directors

The company's digital annual report showcases its 10-year anniversary, financial performance, and strategic vision. CEO John H. Stone emphasized Allegion's commitment to safety, sustainability, and creating long-term shareholder value. The report is available at www.allegion.com/annualreport.

Allegion (NYSE: ALLE) reported strong Q2-2024 financial results, raising its full-year outlook. Key highlights include:

- Net earnings per share (EPS) of $1.77, up 9.9% YoY
- Adjusted EPS of $1.96, up 11.4% YoY
- Revenues of $965.6 million, up 5.8% on a reported basis and 5.2% organically
- Operating margin of 21.6%, compared to 20.2% in Q2-2023
- Adjusted operating margin of 23.7%, up 150 basis points YoY

The company raised its full-year reported revenue growth outlook to 2.5-3.5% and adjusted EPS to $7.15-$7.30. Allegion's performance was driven by strong execution, price realization, and volume growth across its Americas and International segments.

Allegion (NYSE: ALLE), a global leader in security products and solutions, will announce its 2024 second-quarter financial results on July 24, before the market opens. A conference call with John H. Stone, President and CEO, and Mike Wagnes, Senior VP and CFO, will follow at 8 a.m. ET to review the results. The call will be webcast live on Allegion's investor relations website. To join the call, investors in the U.S. can dial 1-877-883-0383, while international participants can dial 1-412-902-6506, using Conference ID 9382339. A replay will be available on the website later that day.

Allegion (NYSE: ALLE), a global leader in security products, has announced the appointment of Stacy Cozad as Senior Vice President, General Counsel, and Corporate Secretary, effective August 5, 2024. Cozad succeeds Jeff Braun, who will retire on December 31, 2024. With nearly 30 years of experience, Cozad brings expertise in law, compliance, corporate communications, and cybersecurity. Previously, she served as EVP, General Counsel, and Corporate Secretary at Ingevity , managing $2 billion in 2023 revenue. John H. Stone, Allegion's CEO, highlighted Cozad's strategic problem-solving skills and dedication to core values, welcoming her to the executive leadership team to drive the company's growth and innovation.

Allegion has launched the Von Duprin 70 Series Exit Devices, providing high-quality security solutions at a mid-price point. Designed for multifamily, office, retail, warehouse, industrial, and hospitality spaces, the 70 Series is ANSI/BHMA Grade 1 certified, offering both panic and fire-rated options in wide and narrow stile configurations.

The devices feature a Quiet Electric Latch Retraction (QEL) option for noise-sensitive environments and quick shipping for urgent projects. The series boasts modern aesthetics, enhancing project designs with a blend of premium and mid-priced products. Von Duprin supports customers with comprehensive technical and compliance assistance.

Zentra, under the Allegion brand, has introduced a new feature allowing residents to add their keys to Apple Wallet, providing easy and secure access to multifamily buildings with iPhones or Apple Watches. This integration enables contactless entry to buildings, apartments, and common areas. Property owners and managers benefit from enhanced operational efficiency, with remote key management and issuance, reducing the need for physical keys. The feature utilizes Apple's security measures, ensuring data encryption and privacy. Demonstrations are available at Apartmentalize 2024 in Philadelphia. The solution currently supports various Schlage smart locks, with plans to expand compatibility later this year.

Allegion, a global security products provider, has acquired Unicel Architectural, a North American manufacturer of glass, timber, and aluminum building solutions. Based in Quebec, Unicel Architectural primarily operates in Canada and the U.S. and serves healthcare, education, and government facilities. The acquisition will integrate Unicel into Allegion Americas, enhancing Allegion's portfolio and specification capabilities. Senior Vice President Dave Ilardi emphasized that the acquisition will provide more comprehensive offerings. Unicel's Co-Presidents will join Allegion to ensure a smooth transition. The transaction terms were not disclosed.