The following is a summary of the Allegion Plc (ALLE) Q1 2024 Earnings Call Transcript:
Financial Performance:
Allegion plc reported Q1 2024 revenue of $893.9 million, a decrease of 3.2% compared to 2023 due to challenging supply chain interruptions in the previous year.
Organic revenue declined 3.6% year-over-year.
Adjusted earnings per share of $1.55 decreased $0.03 or approximately 1.9% versus the prior year due to volume declines and tax headwinds.
Q1 2024 available cash flow was $23.9 million, down 48.8% versus last year.
Business Progress:
The company reported a solid start in 2024, expanding margins and delivering balanced capital allocation.
Allegion acquired Boss Door Controls and Dorcas in Q1, and returned cash to shareholders through dividends and share repurchases.
Schlage, one of Allegion's brands, announced a smart lock integration with Airbnb, improving and simplifying host and guest experiences.
Continued to invest in organic growth through brand innovations.
More details: Allegion IR
Tips: This article is generated by AI. The accuracy of the content can not be fully guaranteed. For more comprehensive details, please refer to the IR website. The article is only for investors' reference without any guidance or recommendation suggestions.