Allegion plc Files Q3 2024 10-Q Report

TL;DR

Allegion's Q3 10-Q is in: financials updated, business segments detailed. Check it out.

AI Summary

Allegion plc filed its 10-Q for the period ending September 30, 2024. The filing details financial performance and operational updates for the third quarter and the year-to-date. Key financial figures and business segment information are presented, reflecting the company's ongoing activities in the security solutions market.

Why It Matters

This filing provides investors and analysts with the latest financial performance data for Allegion plc, crucial for understanding the company's current health and future prospects in the security industry.

Risk Assessment

Risk Level: low — This is a routine quarterly financial filing (10-Q) and does not inherently present new risks.

Key Players & Entities

• Allegion plc (company) — Filer of the 10-Q report
• 2024-09-30 (date) — End of the reporting period
• 2024-10-24 (date) — Date of filing

FAQ

Key Financial Figures

• $0.01 — registered Ordinary shares, par value $0.01 per share ALLE New York Stock Exchange

Filing Documents

• alle-20240930.htm (10-Q) — 1323KB
• ex22-subsidiaryguarantorsa.htm (EX-22) — 6KB
• alle-10qx09302024xex311.htm (EX-31.1) — 11KB
• alle-10qx09302024xex312.htm (EX-31.2) — 11KB
• alle-10qx09302024xex321.htm (EX-32.1) — 5KB
• alle-20240930_g1.jpg (GRAPHIC) — 112KB
• 0001579241-24-000049.txt ( ) — 7755KB
• alle-20240930.xsd (EX-101.SCH) — 44KB
• alle-20240930_cal.xml (EX-101.CAL) — 55KB
• alle-20240930_def.xml (EX-101.DEF) — 212KB
• alle-20240930_lab.xml (EX-101.LAB) — 469KB
• alle-20240930_pre.xml (EX-101.PRE) — 368KB
• alle-20240930_htm.xml (XML) — 1472KB

- FINANCIAL INFORMATION

PART I - FINANCIAL INFORMATION 1

- Financial Statements

Item 1 - Financial Statements 1 Condensed and Consolidated Statements of Comprehensive Income for the three and nine months ended September 30, 2024 and 2023 (Unaudited) 1 Condensed and Consolidated Balance Sheets at September 30, 2024 and December 31, 2023 (Unaudited) 2 Condensed and Consolidated Statements of Cash Flows for the nine months ended September 30, 2024 and 2023 (Unaudited) 3 Notes to Condensed and Consolidated Financial Statements (Unaudited) 4

- Management's Discussion and Analysis of Financial Condition and Results of Operations

Item 2 - Management's Discussion and Analysis of Financial Condition and Results of Operations 17

- Quantitative and Qualitative Disclosures about Market Risk

Item 3 - Quantitative and Qualitative Disclosures about Market Risk 29

- Controls and Procedures

Item 4 - Controls and Procedures 29

- OTHER INFORMATION

PART II - OTHER INFORMATION 30

- Legal Proceedings

Item 1 - Legal Proceedings 30

- Risk Factors

Item 1A - Risk Factors 30

- Unregistered Sales of Equity Securities, Use of Proceeds and Issuer Purchases of Equity Securities

Item 2 - Unregistered Sales of Equity Securities, Use of Proceeds and Issuer Purchases of Equity Securities 30

- Other Information

Item 5 - Other Information 30

- Exhibits

Item 6 - Exhibits 31

SIGNATURES

SIGNATURES 32 Table of Contents

-FINANCIAL INFORMATION

PART I-FINANCIAL INFORMATION

– Financial Statements

Item 1 – Financial Statements Allegion plc Condensed and Consolidated Statements of Comprehensive Income (Unaudited) Three months ended Nine months ended September 30, September 30, In millions, except per share amounts 2024 2023 2024 2023 Net revenues $ 967.1 $ 917.9 $ 2,826.6 $ 2,753.4 Cost of goods sold 535.0 514.6 1,574.8 1,557.2 Selling and administrative expenses 217.1 210.2 655.7 647.5 Operating income 215.0 193.1 596.1 548.7 Interest expense 28.8 22.9 76.8 70.2 Other (income) expense, net ( 8.4 ) 0.1 ( 17.2 ) ( 1.8 ) Earnings before income taxes 194.6 170.1 536.5 480.3 Provision for income taxes 20.4 13.7 83.1 58.3 Net earnings 174.2 156.4 453.4 422.0 Less: Net earnings attributable to noncontrolling interests — 0.1 — 0.2 Net earnings attributable to Allegion plc $ 174.2 $ 156.3 $ 453.4 $ 421.8 Earnings per share attributable to Allegion plc ordinary shareholders: Basic net earnings $ 2.00 $ 1.78 $ 5.19 $ 4.80 Diluted net earnings $ 1.99 $ 1.77 $ 5.16 $ 4.78 Weighted-average shares outstanding: Basic 87.1 87.9 87.3 87.9 Diluted 87.6 88.2 87.8 88.3 Total comprehensive income $ 215.5 $ 127.2 $ 465.6 $ 411.0 Less: Total comprehensive income attributable to noncontrolling interests — 0.8 — 0.1 Total comprehensive income attributable to Allegion plc $ 215.5 $ 126.4 $ 465.6 $ 410.9 See accompanying notes to condensed and consolidated financial statements. 1 Table of Contents Allegion plc Condensed and Consolidated Balance Sheets (Unaudited) In millions, except share amounts September 30, 2024 December 31, 2023 ASSETS Current assets: Cash and cash equivalents $ 878.9 $ 468.1 Accounts and notes receivable, net 458.8 412.8 Inventories 449.9 438.5 Other current assets 74.8 41.5 Total current assets 1,862.4 1,360.9 Property, plant and equipment, net 384.8 358.1 Goodwill 1,505.8 1,443.1 Intangible assets, net 604.8 572.8 Other noncurrent assets 615.9 576.6 Total assets $ 4,973.7 $ 4,311.5 LIABILITIES AND EQUITY Curr

View Full Filing

View this 10-Q filing on SEC EDGAR