August 28, 2014 1:28 AM ET

Building Products

Company Overview of Allegion Plc

Company Overview

Allegion Public Limited Company provides security products and solutions in the Americas, Europe, the Middle East, India, Africa, and the Asia Pacific. It offers mechanical and electronic security products for end-users in commercial, institutional, and residential facilities in the education, healthcare, government, commercial office, and single- and multi-family residential markets. The company’s products include locks, locksets, and key systems; door closers and controls, and exit devices; electronic products and access control systems, including time, attendance, and workforce productivity and video analytics systems; doors and door frames; and other accessories. It markets and sells its...

Block D

Iveagh Court

Harcourt Road

Dublin,  2

Ireland

8,000 Employees

Phone:

353 1 254 6200

Key Executives for Allegion Plc

Chairman
Age: 56
Total Annual Compensation: $1.7M
Chief Financial Officer and Senior Vice President
Age: 51
Total Annual Compensation: $459.3K
Senior Vice President and President of The Americas Region
Age: 52
Total Annual Compensation: $606.1K
Senior Vice President and President of Asia Pacific Region
Age: 49
Total Annual Compensation: $481.5K
Compensation as of Fiscal Year 2013.

Allegion Plc Key Developments

Allegion Mulls Acquisitions

Allegion Plc (NYSE:ALLE) is seeking acquisitions. Dave Petratis, Chairman, President and Chief Executive Officer of Allegion said, "We remain focused on acquisition opportunities in the emerging markets, emerging technologies and product portfolio expansion. We continue to work to develop our M&A pipeline and are seeing the favorable result of our early acquisitions. As we evaluate future opportunities, we will continue to follow a disciplined process to make sure the deals are aligned with our strategy and that we have confidence that they will create shareholder value."

Allegion plc Announces Unaudited Consolidated Earnings Results for the Second Quarter and Six Months Ended June 30, 2014; Revises Earnings Guidance for the Full Year of 2014; Provides Earnings Guidance for the Second Half of 2014; Provides Capex Guidance for the Year 2015

Allegion Plc announced unaudited consolidated earnings results for the second quarter and six months ended June 30, 2014. For the quarter, the company reported net revenues of $531.5 million against $528.7 million a year ago. Earnings before income taxes were $78.2 million against $100.3 million a year ago. Earnings from continuing operations were $55.1 million against $63.3 million a year ago. Net earnings attributable to parent company were $43.5 million against $60.3 million a year ago. Diluted earnings per share were $0.536 against $0.64 a year ago. On adjusted basis, adjusted net earnings were $59.8 million, or $0.61 per share from continuing operations, down $0.03 from the prior year. Adjusted operating income was $111.3 million against $110.9 million a year ago. Adjusted EBITDA was $117.5 million against $116.5 million a year ago. Second quarter net revenues increased 4.0% on an adjusted basis (up 2.9% on an organic basis). The increase in revenues is due to strong residential volume and modest commercial volume growth compensating for unfavorable timing of Asia Pacific system integration projects. For the six months, the company reported net revenues of $998.1 million against $996.9 million a year ago. Earnings before income taxes were $132.6 million against $161.9 million a year ago. Earnings from continuing operations were $93.2 million against $105.0 million a year ago. . Net earnings attributable to parent company were $79.1 million against $99.7 million a year ago. Diluted earnings per share were $0.82 against $1.04 a year ago. Net cash from operating activities was $63.8 million against $59.2 million a year ago. Capital expenditures were $26.0 million against $8.7 a year ago. Adjusted EBITDA was $202.8 million against $197.0 million a year ago. The company continues to forecast full-year revenues to increase 3.5 to 4.5% to versus prior year on an adjusted basis. The company is raising the lower end of adjusted EPS guidance, and holding the high-end with an updated range of $2.30 to $2.40. EPS for 2014 continuing operations are expected to be in the range of $2.00 to $2.15. Capex plan is to be around $40 million for the year 2014. The effective tax rate assumptions in the guidance are approximately 30%. The company continues to expect operating margins to improve for the full year, as revenue increases with the seasonality of the business. The company continues to anticipate earnings growth will accelerate in the second half of 2014 due to higher volumes, 2014 European actions and a wider spread in the effective tax rate. For the year 2015, the company anticipates the capex to be around $40 million, close to 2% of revenue.

Allegion Plc to Report Q2, 2014 Results on Jul 30, 2014

Allegion Plc announced that they will report Q2, 2014 results at 5:00 PM, US Eastern Standard Time on Jul 30, 2014

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Recent Private Companies Transactions

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Date
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Merger/Acquisition
July 29, 2014
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April 30, 2014
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