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Allegion plc (ALLE) is a leading global provider of security products and solutions, including locks, electronics, door systems and other security-related products.
The company generated 36% of its revenue from locks, 24% from door closers, 21% from electronic products, 13% from door systems and 6% from other accessories in 2020. Almost all revenue was generated from product sales. In terms of geographic diversification, the company generated 74% of its revenue in the Americas, 20% combined from Europe, the Middle East, India and Africa, and 6% from the Asia Pacific region in 2020.
Allegion reported fourth-quarter revenue that rose by 1.1% to $727.3 million, beating consensus estimates by $34.56 million, with non-GAAP earnings of $1.49 per share, beating consensus estimates by 30 cents. The company expects earnings of $4.70 to $4.85 in FY2021, which compares favorably to a consensus estimate of $4.74 per share.
The company raised its quarterly dividend by 12.5% to $0.36 per share, which represents a 1.25% forward yield. The dividend is payable on March 31, 2021 to shareholders on record as of March 17, 2021.
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