Company Overview of Allegion Plc
Allegion Public Limited Company manufactures and sells mechanical and electronic security products and solutions worldwide. It provides locks, locksets, and key systems; door closers and exit devices; electronic security products and access control systems; time, attendance, and workforce productivity systems; video analytics; doors and door frames; and other accessories. The company sells its products to end-users in commercial, institutional, and residential facilities, including education, healthcare, government, hospitality, commercial office, and single and multi-family residential markets under the strategic brands, such as Schlage, Von Duprin, LCN, CISA, and Interflex, as well as Stee...
Founded in 2013
Key Executives for Allegion Plc
Chairman, Chief Executive Officer and President
Total Annual Compensation: $900.0K
Chief Financial Officer and Senior Vice President
Total Annual Compensation: $500.0K
Senior Vice President of Americas Operations and President of The Americas Region
Total Annual Compensation: $618.7K
Senior Vice President of Asia Pacific
Total Annual Compensation: $517.0K
Senior Vice President of Global Operations & Integrated Supply Chain
Total Annual Compensation: $483.1K
Compensation as of Fiscal Year 2014.
Allegion Plc Key Developments
Allegion plc Announces Unaudited Consolidated Earnings Results for the Third Quarter and Nine Months Ended September 30, 2015; Revises Earnings Guidance for the Full Year 2015
Oct 29 15
Allegion Plc announced unaudited consolidated earnings results for the third quarter and nine months ended September 30, 2015. For the quarter, net revenues were $544.5 million against $546.7 million a year ago. Operating income was $110.4 million against $106.1 million a year ago. Loss before income taxes was $6.8 million against income before income tax of $95.4 million a year ago. Loss from continuing operations was $26.2 million against profit from continuing operations of $68.1 million a year ago. Net loss attributable to the company was $27.3 million against net profit of $60.8 million a year ago. Net loss attributable to the company shareholders from continuing operations was $27.1 million against net profit of $62.8 million a year ago. Diluted loss per ordinary share attributable to the company shareholders from continuing operations was $0.28 against profit of $0.65 a year ago. Net loss per share was $0.28 against profit of $0.63 a year ago. Adjusted net revenues were $544.5 against $546.7 million a year ago. Adjusted EBITDA was $129.0 against $123.0 million a year ago. EBITDA was $18.9 million against $118.2 million a year ago. Adjusted 2015 EPS was $0.92, up 35.3% compared with adjusted EPS of $0.68 a year ago.
For the nine months, net revenues were $1,522.7 million against $1,544.8 million a year ago. Operating income was $277.1 million against $263.2 million a year ago. Income before income taxes was $133.5 million against $228.0 million a year ago. Earnings from continuing operations were $82.7 million against $161.2 million a year ago. Net profit attributable to the company was $82.0 million against $139.8 million a year ago. Net attributable to the company shareholders from continuing operations was $82.4 million against $150.6 million a year ago. Diluted earnings per ordinary share attributable to the company shareholders from continuing operations were $0.85 against profit of $1.55 a year ago. Net earnings per share were $0.85 against loss of $1.44 a year ago. Net cash from operating activities was $125.5 million against $172.0 million a year ago. Capital expenditures were $27.3 million against $39.8 million a year ago. Adjusted net revenues were $1,552.7 against $1,544.8 million a year ago. Adjusted EBITDA was $327.6 against $325.8 million a year ago. EBITDA was $204.0 million against $292.0 million a year ago.
The company is increasing its adjusted earnings per share to $2.85 to $2.90 (previously $2.70 to $2.80). The company is updating its guidance for reported EPS from continuing operations to a range of $1.46 to $1.51. Adjustments to EPS include the impact of the Venezuelan devaluation in the first quarter, acquisition expenses, expenses related to the company’s previously announced restructuring plan in Italy and charges related to the disposal of the company’s Venezuelan and Bocom Wincent businesses. The guidance assumes 2015 full-year organic revenue growth, which excludes currency and acquisitions, in the range of 2.5% to 4% compared with 2014 (previous guidance up 4% to 5%). The decrease in organic growth versus prior guidance is driven by a reduction in Bocom Wincent revenue estimates in the fourth quarter, partially offset by stronger volume in the Americas. Full-year 2015 reported revenues are forecasted to decline 1.5% to 2.5% compared to 2014 (previous guidance down 2.5% to 3.5%). The improvement in total revenue projections versus prior guidance reflects inclusion of closed acquisitions. The guidance assumes a full-year adjusted effective tax rate of approximately 20% from continuing operations, as well as an average diluted share count for the full year of approximately 97 million shares. The company estimates full-year available cash flow of approximately $200 million.
Allegion Mulls Acquisitions
Oct 29 15
Allegion Plc (NYSE:ALLE) is seeking acquisitions. Dave Petratis, Chairman, President and Chief Executive Officer of Allegion, said, “We continue to be aggressive on working the acquisition pipeline.”
Allegion Closes Amendment and Extension of its Senior Credit Facility
Oct 1 15
Allegion plc has completed the amendment and extension of its senior credit facility. Together with the company's issue of USD 300 million senior notes earlier, this new credit facility completes the company's comprehensive funding plan for the acquisitions of SimonsVoss and Axa Stenman. The amended and restated credit agreement refinanced the USD 938.4 million outstanding borrowings under the company's existing term loan A facility, reduced credit spreads on outstanding borrowings under the facility 12.5 basis points, and extended the applicable maturities from 15 October 2019 to 15 October 2020. The revolving credit facility remained unchanged and continues to permit borrowing of up to USD 500 million.
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