-Allegion raised its full-year profit forecast on Thursday, citing robust demand for its premium locks and electronic access systems in non-residential markets, which it expects will offset the impact of tariffs.
The Dublin-based lockmaker, which also exceeded third-quarter Wall Street estimates, raised prices on commercial products to counter tariff pressures.
Allegion has been actively expanding its footprint in the electronic access and credential management space through targeted acquisitions.
Recent deals include the purchase of ELATEC, a specialist in RFID-based secure identification, and Sauce Door, a cloud-native access control platform.
Sales in Allegion’s Americas division climbed 7.9% during the quarter. Meanwhile, its international operations posted a 22.5% increase in revenue.
For the full year, Allegion now expects adjusted earnings per share to range between $8.10 and $8.20, up from its previous outlook of $8.00 to $8.15.
The company’s third-quarter revenue rose 10.7% to $1.07 billion, surpassing analysts’ average estimates of $1.05 billion, according to data compiled by LSEG.
Allegion reported an adjusted quarterly profit of $2.30 per share, beating estimates of $2.21 per share.
(Reporting by Apratim Sarkar; Editing by Vijay Kishore)
