Allegion Earnings: Closes Out a Strong 2023; Sees Growth in 2024 Despite Softer End Markets
Allegion reported strong fourth-quarter results, closing out a good year for the wide-moat-rated security products manufacturer. Reported fourth-quarter organic revenue increased 2.6% year over year as a 4.8% increase in price more than offset a 2.2% volume decline. Adjusted operating margin expanded 130 basis points year over year to 22%.