Allegion plc reported mixed first-quarter 2026 results with solid revenue growth but lower earnings. Net revenues were $1,033.6 million, up 9.7% year over year, or 2.6% on an organic basis, helped by acquisitions and foreign currency tailwinds.
Net earnings were $138.1 million, down from $148.2 million, with diluted EPS of $1.59 versus $1.71. Adjusted EPS was $1.80, down 3.2% from $1.86, as operating margin declined to 18.9% from 20.9%, and adjusted operating margin fell to 21.2% from 22.7%.
The Americas segment grew revenues 6.9% (4.5% organic), led by non-residential demand and pricing, though adjusted operating margin slipped to 28.1%. International revenues rose 21.5% but declined 5.3% organically, as ERP-related production disruptions in a legacy mechanical business hurt volumes and reduced adjusted operating margin to 8.0%.
Available cash flow was $80.3 million, slightly below the prior year, and the company ended the quarter with $308.9 million in cash and $2,030.7 million in total debt. Allegion repurchased about 0.3 million shares for roughly $40 million, paid $0.55 per-share dividends, and authorized a new $500 million share repurchase program.
For full-year 2026, Allegion raised its reported revenue growth outlook to 6% to 8%, affirmed organic revenue growth of 2% to 4%, and maintained adjusted EPS guidance of $8.70 to $8.90, while updating reported EPS guidance to a range of $7.95 to $8.15.
Allegion plc is asking shareholders to vote at its June 4, 2026 annual meeting on eight director nominees, executive pay, say‑on‑pay frequency, auditor ratification and renewals of Irish-law share issuance authorities. Only holders of record on April 9, 2026 may vote.
The eight‑member Board has seven independent directors, an independent Chair, 10‑year director term limits and committee memberships composed entirely of independent directors. The Board highlights diversity, noting that 75% of nominees are women and/or racially or ethnically diverse.
Executive pay is positioned near market median and heavily performance‑based, using annual cash incentives and equity, including Performance Stock Units tied to adjusted EPS and relative total shareholder return. For 2025, Allegion reports high‑single‑digit revenue growth, strong cash generation and a 131.31% annual incentive payout, with a 125% PSU payout for the 2023‑2025 period, based on adjusted EPS of $8.10 and median peer TSR. The company also emphasizes ESG oversight, environmental targets and a people, environment and safety scorecard embedded in incentives.
Allegion plc announced that its Board has replenished funding for the company’s existing share repurchase program, authorizing the repurchase of up to $500 million of its ordinary shares. Repurchases may occur over time through open-market purchases, accelerated stock repurchase arrangements, or privately negotiated transactions.
The company may also use one or more Rule 10b5-1 trading plans, which allow pre-arranged trades under set conditions. Management will decide the timing and amount of any buybacks based on factors such as Allegion’s share price, corporate and regulatory requirements, and broader market and economic conditions.
The Vanguard Group amended its Schedule 13G/A for Allegion plc to report that it beneficially owns 0 shares of Allegion common stock after an internal realignment, and states 0% ownership of the class. The filing explains that certain Vanguard subsidiaries now report ownership separately in reliance on SEC Release No. 34-39538.
Allegion plc director Sue Main reported open-market purchases of company stock through her trust. On March 11, 2026, the Main-Schweitzer Revocable Trust bought a total of 2,000 Allegion ordinary shares in three transactions at weighted average prices around $147–$150 per share. Following these purchases, the trust held 2,000 shares indirectly, and Main also reported 2,355 Allegion ordinary shares held directly.
Allegion plc senior vice president David S. Ilardi amended a prior insider report to correct the number of shares withheld for taxes on a stock award. A Form 4/A now shows a tax-withholding disposition of 157 ordinary shares on February 24, 2026, at $160.16 per share, related to the vesting of a restricted stock unit award.
The footnote explains that a Form 4 filed on February 26, 2026 had mistakenly reported 240 shares withheld by the company for tax obligations, and this amendment reduces that figure to the correct 157 shares. After this correction, Ilardi directly owns 13,752 ordinary shares.
Allegion plc senior vice president Robert C. Martens reported a small administrative share disposition related to equity compensation. On this Form 4, 107 ordinary shares were withheld at $160.16 per share to satisfy tax obligations when a restricted stock unit award vested.
After this tax-withholding disposition, Martens directly owned 12,563 Allegion ordinary shares. The transaction reflects routine equity award taxation rather than an open-market purchase or sale.
Allegion plc executive reports tax-related share withholding. Vincent Wenos, Senior Vice President and Chief Technology Officer of Allegion plc, reported a tax-withholding disposition of 97 ordinary shares on February 24, 2026, when shares were withheld by the company to cover tax obligations upon vesting of a restricted stock unit award. Following this withholding, he directly owns 13,096 ordinary shares.
Allegion plc senior vice president reports small share withholding for taxes. On the reported date, SVP – Allegion Americas David S. Ilardi had 240 Ordinary Shares disposed of at $160.16 per share to satisfy tax withholding obligations when a restricted stock unit award vested. After this tax-withholding disposition, he directly owned 13,669 Ordinary Shares.