Technology

Allegion reports $174M net income in Q3 2024

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Allegion (NYSE:ALLE), a global security device manufacturer based in Dublin, announced its third-quarter financial results on Thursday, reporting a robust net income of $174.2 million.

This translates to earnings of $1.99 per share, with adjusted earnings—excluding non-recurring costs—rising to $2.16 per share.

During the period under review, the company posted revenue of $967.1 million, reflecting its solid position in the security solutions industry.

Looking ahead, Allegion has projected full-year earnings between $7.35 and $7.45 per share, signaling continued confidence in its growth trajectory.

In terms of stock performance, Allegion shares have surged 19% year-to-date, though they lag behind the broader S&P 500 index, which has risen 22% in the same period.

Over the last 12 months, Allegion's share price has increased by an impressive 56%, underscoring strong investor confidence in the company's outlook and market position.

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