Allegion misses quarterly profit estimates amid weak residential security demand

Allegion

28/04/2026 11:50

April 28 (Reuters) - Lockmaker Allegion ALLE.N posted first-quarter profit below Wall Street estimates on Tuesday, as its residential security business continued to be weighed down by soft demand and higher borrowing costs.

U.S. homebuilder sentiment fell to a seven-month low in April amid higher mortgage rates and economic uncertainty, hurting businesses like Allegion that sell locks, door controls, and related systems to the residential market.

CEO John H. Stone said the company is managing costs and other inputs to help offset external pressures amid a volatile macroeconomic environment.

Allegion reported an adjusted quarterly profit of $1.80 per share, below estimates of $1.89 per share, according to data compiled by LSEG.

The Dublin-based lockmaker's revenue rose 9.7% to $1.03 billion, in line with analysts' average estimates.

Sales in Allegion's Americas division rose 6.9% during the quarter, with the non-residential business up mid-single digits organically, driven by favorable pricing.

Meanwhile, its international operations posted a 21.5% increase in revenue.

Allegion reaffirmed its full-year adjusted earnings per share forecast at $8.70 to $8.90, the midpoint of which is in line with estimates of $8.80.

 (Reporting by Megavarshini G. Somasundaram in Bengaluru; Editing by Vijay Kishore)

 ((Megavarshini.SomasundaramGnanasundari@thomsonreuters.com;))