The company said it recorded Q4 2023 revenue of $897.4 million and net earnings of $118.6 million, or $1.34 per diluted share. Revenue rose 4.2%, and rose 2.6% on an organic basis.

1. 01

   The company said it recorded Q4 2023 revenue of $897.4 million and net earnings of $118.6 million, or $1.34 per diluted share. Revenue rose 4.2%, and rose 2.6% on an organic basis.

2. 02

   Allegion said full-year 2023 revenue came to $3,650.8 million, up 11.6% (organic growth of 5.2%), and adjusted EPS was $6.96, up 16.2%. It said the adjusted operating margin was 22.1%, up 160 basis points from 20.5% in 2022.

3. 03

   The company said available cash flow, which it defines as net cash from operating activities minus capital expenditures, was $516.4 million for 2023, up 30.6% from the prior year. It said cash and cash equivalents at year-end were $468.1 million, and total debt was $2,015.0 million. Net cash from operating activities was $600.6 million and capital expenditures were $84.2 million.

4. 04

   Allegion said it expects full-year 2024 revenue to rise 1.5% to 3.5% on a reported basis and 1% to 3% on an organic basis, with adjusted EPS of $7.00 to $7.15. The company also declared a quarterly dividend of $0.48 per ordinary share, which it said is an increase of 7% over the prior dividend.

Analysis scope · Filing body and confirmed press-release exhibitWe analyzed the filing body and confirmed exhibits. This is not a review of other exhibits, investor presentations or the full earnings call.

AI summarized the filing and translated the summary into English; it may differ from the original. For reference only, not investment advice. AI translated the published Korean report into English. Figures are copied as filed, not recalculated.

Original filing

The filing as submitted to SEC EDGAR. You can check the figures and statements of this summary against it.