Sign in

    Allegion PLC (ALLE)

    Board Change

    You might also like

    Business Description

    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 .

    1. Mechanical Products - Offers a variety of security solutions including locks, locksets, portable locks, key systems, door controls, and exit devices for various markets.
    2. 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.
    3. Services and Software - Includes inspection, maintenance, repair, and SaaS offerings to support and enhance security product functionality.

    Key Metrics

    View all financials →

    Executive Team

    NamePositionStart DateShort Bio
    John H. StonePresident and Chief Executive OfficerJuly 2022John H. Stone has served as the President and Chief Executive Officer of Allegion plc since July 2022. Before joining Allegion, he was the President of Worldwide Construction, Forestry and Power Systems at Deere & Company from 2020 to 2022 .
    Michael J. WagnesSenior Vice President and Chief Financial OfficerMarch 2022Michael J. Wagnes has served as the Senior Vice President and Chief Financial Officer of Allegion plc since March 2022. Prior to this role, he was the Vice President and General Manager, Commercial Americas from 2020 to 2022 .
    Jeffrey N. BraunSenior Vice President and General Counsel2014Jeffrey N. Braun has served as the Senior Vice President and General Counsel at Allegion plc since 2014. He also held the position of Secretary from July 2022 to February 2023 and from 2018 to 2020 .
    Timothy P. EckersleyPresident, International and Senior Vice PresidentJune 2023Timothy P. Eckersley has served as the President, International and Senior Vice President, Allegion since June 2023. Prior to this role, he served as the Senior Vice President – Allegion International from 2021 to June 2023 .
    Jennifer L. HawesSenior Vice President – Chief Human Resources OfficerFebruary 2023Jennifer L. Hawes has served as the Senior Vice President – Chief Human Resources Officer at Allegion since February 2023. Prior to this role, she was the Vice President – Chief Human Resources Officer from 2022 to February 2023 .
    David S. IlardiSenior Vice President – Allegion AmericasMarch 2022David S. Ilardi has served as the Senior Vice President – Allegion Americas since March 2022. Prior to this role, he was the General Manager of Allegion Home from 2019 to 2022 .
    Tracy L. KempSenior Vice President – Chief Information and Digital OfficerDecember 2020Tracy L. Kemp has served as the Senior Vice President – Chief Information and Digital Officer at Allegion since December 2020. Prior to this role, she was the Senior Vice President – Chief Customer and Digital Officer from 2019 to 2020 .
    Robert C. MartensSenior Vice President – Chief Innovation and Design OfficerDecember 2019Robert C. Martens has served as the Senior Vice President – Chief Innovation and Design Officer at Allegion since December 2019. He also holds the position of Futurist and President of Allegion Ventures, a role he has been in since 2017 .
    Nickolas A. MusialVice President, Controller and Chief Accounting OfficerMarch 2022Nickolas A. Musial has served as the Vice President, Controller, and Chief Accounting Officer at Allegion plc since March 2022. Prior to this role, he was the Vice President of Finance for Allegion Americas from 2017 to 2022 .
    Vincent M. WenosSenior Vice President – Chief Technology OfficerJune 2019Vincent M. Wenos has served as the Senior Vice President – Chief Technology Officer at Allegion since June 2019. Prior to this role, he was the Vice President – Global Technology and Engineering from 2018 to 2019 .

    Questions to Ask Management

    1. 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?

    2. 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?

    3. 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?

    4. 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?

    5. 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?

    Share Repurchase Program

    Program DetailsProgram 1
    Approval DateJune 2023
    End Date/DurationNo expiration date
    Total additional amount$500.0 million
    Remaining authorization amount$340.0 million (as of 2024-09-30)
    DetailsThe program aims to return capital to shareholders, improve EPS, and manage capital structure flexibly.

    Debt Maturity Schedule

    YearAmount Due (in millions)Debt TypeInterest Rate (%)% of Total Debt
    2024$418.9 3.200% Senior Notes3.200 17.4% = (418.9 / 2,402.1) * 100
    2025$21.9 Term Facility6.070 0.9% = (21.9 / 2,402.1) * 100
    2026$190.6 Term Facility6.070 7.9% = (190.6 / 2,402.1) * 100
    2027$400.0 3.550% Senior Notes3.550 16.7% = (400.0 / 2,402.1) * 100
    2029$400.0 3.500% Senior Notes3.500 16.7% = (400.0 / 2,402.1) * 100
    2032$600.0 5.411% Senior Notes5.411 25.0% = (600.0 / 2,402.1) * 100
    2034$400.0 5.600% Senior Notes5.600 16.7% = (400.0 / 2,402.1) * 100

    Competitors

    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 .

    Auditor

    NameStart DateEnd DateReason for Change
    PricewaterhouseCoopers LLP2013 PresentCurrent auditor

    Latest news

    Recent developments and announcements about ALLE.

    Corporate Leadership

      Board Change

      ·
      Dec 5, 2024, 9:40 PM

      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 .