Allegion PLC Q1 2024 Financial Performance Report

Company Overview

As of the latest reports, Allegion holds a market capitalization of approximately $10.83 billion, reinforcing its substantial presence in the security and protection market.

Q1 2024 Financial Highlights

During Q1 2024, Allegion reported a revenue of $893.9 million. Remarkably, the reported gross profit was the same due to zero cost of revenue, highlighting exceptional cost management. The company's operating income stood at $172.1 million, with total operating expenses amounting to $219.3 million. Key financial aspects include:

• Net Income: Net income was recorded at $123.8 million, translating to a diluted earnings per share (EPS) of $1.41.
• Operating Cash Flow: Operating cash flow was reported at $51.1 million, with free cash flow of $23.9 million after capital expenditures of $27.2 million.
• Net Debt: At the end of Q1, the company's net debt was approximately $1.62 billion.
• Capital Allocation: Significant financial activities included $80.0 million used in financing activities and a reduction in cash reserves by $76.3 million, attributed to operational expenditures and investments.

Financial Ratios and Performance Metrics

Financial ratios from this quarter show strong profitability and operational efficiency:

• The Gross Profit Margin was maintained at 100%, indicating highly effective cost management.
• Operating Income Ratio and Net Income Ratio were 19.25% and 13.85%, respectively.
• The Return on Equity (ROE) was 9.16%, suggesting efficient use of shareholder equity, and the Debt to Equity Ratio stood at 149.03%, reflecting moderate leverage but robust equity returns.

Market and Industry Comparison

Within its industry, Allegion displayed a superior Gross Profit Margin of 57.55%, considerably above the industry average of 29.84%. Also, its Return on Equity of 42.90% significantly surpasses the sector average, positioning Allegion as a strong market performer.

Conclusion

Allegion PLC's financial results for Q1 2024 demonstrate the company's sturdy industry positioning, marked by robust profitability and effective capital management. The strategic initiatives and operational adjustments undertaken have significantly bolstered the company's financial health.

Additional Information

For more detailed financial information and disclosures, please refer to the official SEC filings accessible through the following links: