The company said net revenues for the 3 months ended June 30, 2024 rose 5.8%, or $53.1 million, from the same period a year earlier. It cited higher volumes, pricing gains and acquisitions made during the year as drivers, which were partially offset by unfavorable foreign currency exchange rate movements.

1. 01

   The company said net revenues for the 3 months ended June 30, 2024 rose 5.8%, or $53.1 million, from the same period a year earlier. It cited higher volumes, pricing gains and acquisitions made during the year as drivers, which were partially offset by unfavorable foreign currency exchange rate movements.

2. 02

   Allegion said operating income for the 3 months ended June 30, 2024 increased $24.4 million from the same period a year earlier, and operating margin rose from 20.2% to 21.6%. The company cited pricing and productivity gains in excess of inflation and investment spending, volume/product mix and contributions from acquisitions as drivers. It said foreign currency exchange rates and acquisition, integration and restructuring expenses partially offset these gains.

3. 03

   The company said it acquired a 100% stake in Boss Door Controls in February 2024, Dorcas in March, and Krieger and Unicel in June. Boss Door Controls and Dorcas are reported in the Allegion International segment, while Krieger and Unicel are reported in the Allegion Americas segment.

4. 04

   The company said net cash provided by financing activities in the first half of 2024 increased $366.6 million from the same period a year earlier, primarily due to proceeds from the issuance of 5.600% Senior Notes. It also said it expects to use the proceeds to repay the 3.200% Senior Notes maturing in the second half of 2024.

Key figures

Quarter ended June 30, 2024

Revenue

$966M

Operating income

$209M

Net income

$155M

EPS

$1.77

Analysis scope · Management's discussion (MD&A)We analyzed excerpts of the Management's Discussion and Analysis (MD&A) section (with omissions). Other sections of the report, such as the notes to the financial statements and risk factors, were not reviewed.

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

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