Allegion said net revenues for 2024 increased by 3.3%, or $121.4 million, compared to the prior year. The company said improved pricing and the impact from acquisitions made during the year drove the increase, which was partially offset by lower volumes and unfavorable foreign currency exchange rate movements.

1. 01

   Allegion said net revenues for 2024 increased by 3.3%, or $121.4 million, compared to the prior year. The company said improved pricing and the impact from acquisitions made during the year drove the increase, which was partially offset by lower volumes and unfavorable foreign currency exchange rate movements.

2. 02

   Allegion said operating income for 2024 increased $72.3 million and operating margin rose to 20.7% from 19.4%. The company cited pricing and productivity improvements in excess of inflation and investment spending, foreign currency exchange rate movements, a year-over-year decrease in restructuring, integration and acquisition expenses, and impairment charges on intangible assets recorded in the prior year as factors.

3. 03

   Allegion said it acquired 100% of 5 companies in 2024: Boss Door Controls in the United Kingdom, Dorcas in Spain, Krieger in the United States, Unicel in Canada, and SOSS Door Hardware, based primarily in the United States.

4. 04

   Allegion said it paid dividends of $167.0 million in 2024 and repurchased approximately 1.6 million ordinary shares for approximately $220.0 million. The company also used net proceeds from the issuance of 5.600% Senior Notes with a principal amount of $400.0 million to repay 3.200% Senior Notes.

Key figures

Fiscal year ended December 31, 2024

Revenue

$3.8B

Operating income

$781M

Net income

$598M

EPS

$6.82

Operating cash flow

$675M

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

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