Lockmaker Allegion beats quarterly estimates on strong demand for security devices

Allegion

18/02/2025 11:42

Feb 18 (Reuters) - Allegion  ALLE.N  reported
fourth-quarter revenue and profit above Wall Street estimates on
Tuesday, driven by strong demand for its locks, keys and
electronic security systems used in residential and commercial
buildings.
    Allegion benefited from an increase in demand for the
company's residential products, which was previously subdued due
to a slow housing market in the U.S. 
    Price hikes for its locks, keys and electronic security
systems also helped the company offset inflation-related costs.
    Sales in the company's Americas region, its biggest, rose
6.4% in the quarter. The organic revenue increase was driven by
higher prices and volume growth, Allegion said.
    Its international business revenue increased 1.5% due to
higher prices, which offset volume decline.
    Allegion expects its 2025 adjusted profit per share to be
between $7.65 and $7.85, compared with analysts' expectations of
$7.76, according to data compiled by LSEG. 
    Its fourth-quarter adjusted profit per share was $1.86,
compared with analysts' average expectation of $1.75. 
    Quarterly revenue rose 5.4% to $945.6 million compared to
the previous year, and above expectations of $938.6 million.

 (Reporting by Kannaki Deka in Bengaluru; Editing by Vijay
Kishore)
 ((Kannaki.Deka@thomsonreuters.com;))