Feb 18 (Reuters) - Allegion ( ALLE ) reported
fourth-quarter revenue and profit above Wall Street estimates on
Tuesday, driven by strong demand for its locks, keys and
electronic security systems used in residential and commercial
buildings.
Allegion ( ALLE ) benefited from an increase in demand for the
company's residential products, which was previously subdued due
to a slow housing market in the U.S.
Price hikes for its locks, keys and electronic security
systems also helped the company offset inflation-related costs.
Sales in the company's Americas region, its biggest, rose
6.4% in the quarter. The organic revenue increase was driven by
higher prices and volume growth, Allegion ( ALLE ) said.
Its international business revenue increased 1.5% due to
higher prices, which offset volume decline.
Allegion ( ALLE ) expects its 2025 adjusted profit per share to be
between $7.65 and $7.85, compared with analysts' expectations of
$7.76, according to data compiled by LSEG.
Its fourth-quarter adjusted profit per share was $1.86,
compared with analysts' average expectation of $1.75.
Quarterly revenue rose 5.4% to $945.6 million compared to
the previous year, and above expectations of $938.6 million.