Allegion PLC (NYSE:ALLE)

$ 136.49 -3.02 (-2.16%) Market Cap: 11.74 Bil Enterprise Value: 13.25 Bil PE Ratio: 19.17 PB Ratio: 7.31 GF Score: 94/100

Q4 2024 Allegion PLC Earnings Call Transcript

Feb 18, 2025 / 01:00PM GMT

Release Date Price: $125.89 (-5.62%)

Transcript 10-K8-K

Key Points

Positve

Allegion PLC (ALLE) reported a 5.4% increase in revenue for Q4 2024, with organic revenue growth of 3.5%, driven by favorable price and volume.
The company achieved a 70 basis points expansion in operating margin for the full year 2024, reflecting strong operational performance.
Allegion PLC (ALLE) executed $137 million in M&A during 2024, including five bolt-on acquisitions, enhancing its core markets and product portfolio.
The company announced its 11th consecutive dividend increase, demonstrating a commitment to returning cash to shareholders.
Allegion PLC (ALLE) has a strong balance sheet with a net debt to adjusted EBITDA ratio of 1.6 times, supporting continued capital deployment.

Negative

The international segment faced challenges in Q4 2024, with a 7.1% decline in organic revenue, particularly impacted by a weak macroeconomic environment in Germany.
Price and productivity, net of inflation and investment, were a slight headwind in Q4, although strong for the full year.
The company's guidance for 2025 includes a significant headwind from foreign currency, primarily affecting Allegion International.
Allegion PLC (ALLE) anticipates potential impacts from tariffs on imports from China and Mexico, which could affect cost structures.
The residential business experienced a pull-forward in purchases due to inflation and tariff uncertainty, which may lead to a headwind in Q1 2025.

Operator

Good morning and welcome to the Allegion fourth-quarter 2024 earnings call. (Operator Instructions) Please note this event is being recorded.

I would now like to turn the conference over to Josh Pokrzywinski, Vice President of Investor Relations. Please go ahead.

Josh Pokrzywinski

Allegion PLC - Vice President, Investor Relations

Thank you, Drew. Good morning, everyone. Thank you for joining us for Allegion's fourth-quarter, 2024 earnings call. With me today are John Stone, President and Chief Executive Officer, and Mike Wagnes, Senior Vice President and Chief Financial Officer of Allegion.

Our earnings release, which was issued earlier this morning, and the presentation, which we will refer to in today's call, are available on our website at investor.Allegion.com. This call will be recorded and archived on our website.

Please go to slide 2. Statements made in today's call that are not historical facts are considered forward-looking statements and are made pursuant to the safe harbor provisions of federal securities law.

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