Allegion plc reported a net revenue of $941.9 million for the first quarter of 2025, reflecting a 5.4% increase compared to $893.9 million in the same period of 2024. The company's operating income rose to $196.4 million, up from $172.1 million year-over-year, resulting in an operating margin of 20.9%, an improvement from 19.3% in the prior year. Net earnings attributable to Allegion plc were $148.2 million, or $1.71 per diluted share, compared to $123.8 million, or $1.43 per diluted share, in the first quarter of 2024.
The increase in revenue was attributed to higher volumes, improved pricing, and contributions from recent acquisitions, which included the purchase of Next Door Company and Lemaar Pty Ltd. These acquisitions, valued at approximately $11.1 million, were completed in February and March 2025, respectively, and are expected to enhance Allegion's product offerings in the Americas and International segments. The company also repurchased approximately 0.3 million shares for $40 million during the quarter, as part of its ongoing share repurchase program.
Operationally, Allegion's Americas segment saw a 6.8% increase in net revenues, driven by strong demand for non-residential products, while the International segment experienced a slight decline of 0.3% in net revenues, primarily due to unfavorable foreign currency exchange rates and lower volumes. The company reported a total employee headcount of approximately 10,000 as of March 31, 2025, reflecting its commitment to maintaining a skilled workforce amid ongoing strategic initiatives.
Looking ahead, Allegion anticipates continued growth in its electronic security products and services, despite mixed macroeconomic conditions in its international markets. The company is closely monitoring the impact of recent U.S. tariffs on imports, which could affect its cost structure and pricing strategies. Allegion's management remains optimistic about its ability to navigate these challenges and achieve its long-term growth objectives, supported by strong operating cash flows and a solid financial position.
About Allegion plc
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