Executive Summary
Allegion plc delivered a resilient Q3 2024 in USD terms, with revenue of $967.1 million, up 5.36% year over year and 0.16% quarter over quarter. The company posted gross profit of $432.1 million and an operating margin of 22.23%, resulting in net income of $174.2 million and earnings per share (EPS) of $2.00 (diluted $1.99). Free cash flow remained robust at $212.0 million, supported by operating cash flow of $231.9 million and a disciplined capital spend profile (capital expenditures of $20.8 million).
Key Performance Indicators
Key Insights
Revenue: $967.1m, YoY +5.36%, QoQ +0.16% | Gross Profit: $432.1m, Gross Margin 44.68%, YoY +7.14%, QoQ +0.89% | Operating Income: $215.0m, Margin 22.23%, YoY +11.34%, QoQ +2.87% | Net Income: $174.2m, Net Margin 18.01%, YoY +11.45%, QoQ +12.10% | EPS: $2.00 (diluted $1.99), YoY +12.36%, QoQ +12.36% | Cash Flow: Operating CF $231.9m, Free CF $212.0m | Balance Sheet: Cash $878.9m, Debt $2.4021b, Net Debt $1.523b, Equity $1.571b, Debt/Cap 60.5%, Interest Coverage ~7.5x | Efficiency & Leverage: ...
Financial Highlights
Revenue: $967.1m, YoY +5.36%, QoQ +0.16% | Gross Profit: $432.1m, Gross Margin 44.68%, YoY +7.14%, QoQ +0.89% | Operating Income: $215.0m, Margin 22.23%, YoY +11.34%, QoQ +2.87% | Net Income: $174.2m, Net Margin 18.01%, YoY +11.45%, QoQ +12.10% | EPS: $2.00 (diluted $1.99), YoY +12.36%, QoQ +12.36% | Cash Flow: Operating CF $231.9m, Free CF $212.0m | Balance Sheet: Cash $878.9m, Debt $2.4021b, Net Debt $1.523b, Equity $1.571b, Debt/Cap 60.5%, Interest Coverage ~7.5x | Efficiency & Leverage: DSO 42.7d, CCC 118.4d, Asset Turnover 0.194, ROE 11.1% | Valuation (USD): P/E 18.2x, P/B 8.1x, P/S 13.1x, Dividend Yield 0.34%
Income Statement
| Metric |
Value |
YoY Change |
QoQ Change |
| Revenue |
967.10M |
5.36% |
0.16% |
| Gross Profit |
432.10M |
7.14% |
0.89% |
| Operating Income |
215.00M |
11.34% |
2.87% |
| Net Income |
174.20M |
11.45% |
12.10% |
| EPS |
2.00 |
12.36% |
12.36% |
Key Financial Ratios
operatingProfitMargin
22.2%
operatingCashFlowPerShare
$2.73
freeCashFlowPerShare
$2.49
dividendPayoutRatio
24.9%
Management Commentary
Transcript not provided in the input. No management quotes available from an earnings call in this dataset.
Forward Guidance
No formal forward guidance was published in the QQ3 2024 filing. The trailing performance shows stable revenue growth, margin durability, and strong FCF generation, supporting deleveraging and selective capital allocation. Management commentary (not captured here) has historically emphasized cost discipline, brand leverage across Schlage and other security franchises, and opportunities in integrated security solutions. Investors should monitor: (1) end-market demand intensity in commercial/institutional construction; (2) pricing and mix optimization; (3) raw material and freight cost dynamics; (4) currency exposure given USD reporting; (5) potential capital returns and any shifts in capex plans.