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Allegion Plc (NYSE: ALLE) |
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Allegion Plc Outlook |
On February 20 2024 the Allegion Plc provided following guidance
ed earnings per share. We continue to see momentum across our portfolio, supported by strong demand for our innovative products and solutions in the residential and commercial security markets.
For the fourth quarter, Allegion reported net revenues of $792 million, an increase of 7.2% compared to the fourth quarter of 2022. Adjusted operating income was $151 million, representing a margin of 19.1%. Adjusted earnings per share were $1.50, a 17.2% increase year-over-year.
For the full year 2023, Allegion reported net revenues of $3.1 billion, a 6.8% increase compared to 2022. Adjusted operating income was $629 million, with a margin of 20.3%. Adjusted earnings per share were $5.67, a 14.7% increase year-over-year.
Looking ahead to 2024, Allegion is optimistic about its growth prospects. The company expects continued momentum in its core residential and commercial security markets, driven by new product launches and strategic partnerships. Allegion anticipates net revenue growth of 5-7% for the full year, with adjusted earnings per share in the range of $6.00-$6.30.
We are confident in our ability to deliver on our strategic priorities and drive sustainable growth and value creation for our shareholders, said Stone. Allegion is well-positioned for success in 2024 and beyond, and we look forward to continued innovation and expansion in the security industry.
In conclusion, Allegion Plc. has shown strong financial performance in the fourth quarter and full year 2023, and is optimistic about its growth prospects for 2024. With a focus on innovation, strategic partnerships, and market leadership, Allegion remains committed to delivering value for its shareholders and customers.
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