February 21, 2017 7:33 AM ET

Building Products

Company Overview of Allegion plc

Company Overview

Allegion Public Limited Company manufactures and sells mechanical and electronic security products and solutions worldwide. It offers locks, locksets, portable locks, and key systems; door closers, and controls or exit devices; electronic security products and access control systems; time, attendance, and workforce productivity systems; doors and door frames; and other accessories. It also manufactures door and window products, including sealing systems, such as sound control, fire and smoke protection, threshold applications, lights, door louvers, intumescent products, photo-luminescent, and flood barrier for doors for use in commercial spaces and products, as well as designs and manufactur...

Block D

Iveagh Court

Harcourt Road

Dublin,  1

Ireland

Founded in 2013

9,400 Employees

Phone:

353 1 254 6200

Key Executives for Allegion plc

Chairman, Chief Executive Officer and President
Age: 58
Total Annual Compensation: $938.5K
Chief Financial Officer and Senior Vice President
Age: 53
Total Annual Compensation: $454.4K
Senior Vice President of Global Operations and Integrated Supply Chain
Age: 58
Total Annual Compensation: $350.0K
Senior Vice President and President of the Europe, Middle East, India, & Africa Region
Age: 51
Total Annual Compensation: $462.3K
Senior Vice President and President of the Americas Region
Age: 54
Total Annual Compensation: $420.0K
Compensation as of Fiscal Year 2015.

Allegion plc Key Developments

Allegion plc Announces Unaudited Consolidated Earnings Results for the Fourth Quarter and Year Ended December 31, 2016; Provides Earnings Guidance for the Year 2017

Allegion Plc announced unaudited consolidated earnings results for the fourth quarter and year ended December 31, 2016. For the quarter, net revenues were $569.7 million against $545.4 million a year ago. Operating income was $97.2 million against $81.5 million a year ago. Income before income taxes was $82.5 million against $75.8 million a year ago. Income from continuing operations was $75.0 million against $72.0 million a year ago. Net income attributable to the company was $74.8 million against $71.9 million a year ago. Net income attributable to the company shareholders from continuing operations was $74.8 million against $71.9 million a year ago. Diluted earnings per ordinary share attributable to the company shareholders from continuing operations was $0.77 against $0.74 a year ago. Adjusted net revenues were $569.7 against $545.4 million a year ago. Adjusted EBITDA was $116.8 against $118.0 million a year ago. EBITDA was $113.0 million against $106.6 million a year ago. For the full year, net revenues were $2,238.0 million against $2,068.1 million a year ago. Operating income was $425.5 million against $358.6 million a year ago. Income before income taxes was $295.0 million against $209.3 million a year ago. Income from continuing operations was $231.2 million against $154.7 million a year ago. Net income attributable to the company was $229.1 million against $153.9 million a year ago. Net income attributable to the company shareholders from continuing operations was $231.2 million against $154.3 million a year ago. Diluted earnings per ordinary share attributable to the company shareholders from continuing operations was $2.36 against $1.59 a year ago. Net cash from operating activities was $377.5 million against $257.0 million a year ago. Capital expenditures were $42.5 million against $35.2 million a year ago. Adjusted net revenues were $2,238.0 against $2,068.1 million a year ago. Adjusted EBITDA was $500.4 against $440.2 million a year ago. EBITDA was $420.7 million against $310.6 million a year ago. For the full-year 2017, the company expected revenues to increase 5.5 to 6.5% when compared to 2016. Adjusted EPS is expected to be in the range of $3.55 to $3.70. This reflects an increase of 6.3% to 10.8% versus adjusted 2016 EPS. The outlook includes incremental investment of $0.15 to $0.20 per share; assumes a full-year effective tax rate of 19% to 20% from continuing operations; and assumes an average diluted share count for the full-year of approximately 96 million shares. Cash flow of approximately $300 to $320 million, inclusive of a $50 million discretionary pension contribution to its U.S. pension plan made in January 2017.

Allegion plc Names Jeff Wood as President of Asia-Pacific Region

Allegion plc named Jeff Wood as president of its Asia-Pacific region, based in Shanghai. In his new executive leadership role, Wood is responsible for Allegion'sAsia-Pacific business, where he will lead more than 400 employees in China, Korea, Singapore, Australia and New Zealand. Wood has been with Allegion for more than three years and served as vice president of global supply chain. He previously led Allegion’s Global Procurement & Supply Management organization, delivering millions of dollars in material productivity savings while building strategic relationships with Allegion’s supplier partners. Prior to Allegion, Wood served as senior vice president of supply chain for Schneider Electric, along with global leadership roles in customer satisfaction and business process excellence.

Allegion Declares Quarterly Dividend, Payable on March 31, 2017

Allegion announced that its board declared a quarterly dividend of $0.16 per ordinary share and approved a new stock repurchase authorization of up to $500 million. The dividend is payable on March 31 to shareholders of record on March 15.

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