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Allegion plc is a leading global provider of security products and solutions, operating in two segments: Allegion Americas and Allegion International. The company offers a wide range of security products and solutions for commercial, institutional, and residential facilities worldwide, including education, healthcare, government, hospitality, retail, commercial office, and residential markets . Their product lines include mechanical products such as locks, locksets, portable locks, key systems, door controls, and exit devices, as well as electronic security products and access control systems, which encompass electrified locks, access control systems, and electronic door controls . Allegion's business strategy includes leveraging its strong brand portfolio, which includes well-known names like Schlage, Von Duprin, and LCN, to maintain a leading position in the security products industry .
- Mechanical Products - Offers a variety of security solutions including locks, locksets, portable locks, key systems, door controls, and exit devices for various markets.
- Electronic Security Products and Access Control Systems - Provides electrified locks, access control systems, and electronic door controls, catering to both residential and non-residential categories.
- Services and Software - Includes inspection, maintenance, repair, and SaaS offerings to support and enhance security product functionality.
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Given the expected softness in the multifamily segment and potential weaknesses in the healthcare vertical within institutional markets, how confident are you in your non-residential growth projections for the next 12 months, and what specific strategies are you employing to mitigate these challenges?
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With customers potentially experiencing fatigue from continuous price increases in an inflationary environment, how sustainable is your pricing strategy to cover inflationary pressures without adversely affecting demand or market share?
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Historically, international specification has not been a strength for Allegion; can you elaborate on the progress you've made in building out this capability and how the acquisition of Boss Door Controls is enhancing your competitive position in international markets?
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Considering that ESSER funding did not significantly benefit your education vertical and municipal bond issuance might not remain as strong, how do you plan to sustain growth in the education sector amid these funding challenges?
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In light of past supply chain issues affecting your electronics business and the unusual comparables in 2023, what concrete measures are you taking to stabilize this segment, and how realistic is your expectation of achieving high single to low double-digit growth in electronics moving forward?
Competitors mentioned in the company's latest 10K filing.
- Assa Abloy AB - Mentioned as a principal global competitor in the security products markets .
- dormakaba Group - Mentioned as a principal global competitor in the security products markets .
- Fortune Brands Innovations, Inc. - Mentioned as a competitor in the North American residential market .
Recent developments and announcements about ALLE.
Corporate Leadership
Board Change
Gregg C. Sengstack has been appointed to the Board of Directors of Allegion plc, effective December 4, 2024. He will serve on the Audit and Finance Committee, the Compensation and Human Capital Committee, and the Corporate Governance and Nominating Committee. Mr. Sengstack is recognized as an independent director under NYSE standards .