Allegion plc Reports Earnings Results for the Third Quarter and Nine Months Ended September 30, 2021
October 21, 2021 at 05:30 am EDT
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Allegion plc reported earnings results for the third quarter and nine months ended September 30, 2021. For the third quarter, the company reported sales was USD 717 million compared to USD 728.4 million a year ago. Net income was USD 143.5 million compared to USD 146.9 million a year ago. Basic earnings per share from continuing operations was USD 1.6 compared to USD 1.59 a year ago. Diluted earnings per share from continuing operations was USD 1.59 compared to USD 1.58 a year ago.
For the nine months, sales was USD 2,158.2 million compared to USD 1,992.6 million a year ago. Net income was USD 370.2 million compared to USD 221 million a year ago. Basic earnings per share from continuing operations was USD 4.11 compared to USD 2.39 a year ago. Diluted earnings per share from continuing operations was USD 4.08 compared to USD 2.38 a year ago.
Allegion plc specializes in manufacturing and marketing security systems. Products are sold under the Cisa, Interflex, LCN, Schlage, Von Duprin, Aptiq, Bocom, Briton, Bricard, Dexter, Falcon, Glynn-Johnson, Ito Kilit, Ives, Kryptonite, Legge, Normbau, Steelcraft and Xceedid brands. The group's activity is organized around 3 areas:
- company securities: manufacturing of door frames and accessories, identification systems, access control, door locking, etc.;
- building security: manufacturing of mechanical and electronic locks and portable locking systems;
- city security: manufacturing of vehicles video surveillance, control and detection systems, access control in municipal buildings and in parking garages.
The United States account for 75.5% of net sales.