Allegion plc (NYSE:ALLE) Q2 2024 Earnings Conference Call July 24, 2024 8:00 AM ET

Company Participants

Josh Pokrzywinski - VP, IR
John Stone - President and CEO
Mike Wagnes - SVP and CFO

Conference Call Participants

Tim Wojs - Baird
Joe Ritchie - Goldman Sachs
Joe O'Dea - Wells Fargo
Julian Mitchell - Barclays
Brett Linzey - Mizuho
David MacGregor - Longbow Research

Operator

Good morning, and welcome to the Allegion Second Quarter 2024 Earnings Call. All participants will be in listen-only mode. [Operator Instructions]

Please note, this event is being recorded. I would now like to turn the conference over to Josh Pokrzywinski, Vice President of Investor Relations. Please go ahead.

Josh Pokrzywinski

Thank you Jason. Good morning everyone. Thank you for joining us for Allegion's Second Quarter 2024 Earnings Call. With me today are John Stone, President and Chief Executive Officer; and Mike Wagnes, Senior Vice President and Chief Financial Officer of Allegion.

Our earnings release, which was issued earlier this morning and the presentation we will refer to in today's call are available on our website at investor.allegion.com. This call will be recorded and archived on our website. Please go to Slide 2.

Statements made in today's call that are not historical facts are considered forward-looking statements and are made pursuant to the Safe Harbor provisions of Federal Securities Law. Please see our most recent SEC filings for a description of some of the factors that may cause actual results to differ materially from our projections. The company assumes no obligation to update these forward-looking statements. Today's presentation and commentary include non-GAAP financial measures. Please refer to the reconciliation in the financial tables of our press release for further details.

Please go to Slide 3, and I'll turn the call over to John.

John Stone

Thanks, Josh. Good morning everybody. Thanks for joining today. I can sum up this call and this quarter with four words; Stable markets, strong execution. And that strong execution was by the entire Allegion team and our distribution channel partners. That's the team that drove these record Q2 results. I'll briefly walk through some of the highlights for our quarter and updated full year outlook, and then we'll share more on each of these later in the presentation.

Allegion Q2 revenue growth and margin expansion demonstrates the resilience of our business model. We see stability in demand given our broad end-market exposure and specification expertise. Our team continues to see strength in areas like institutional markets and data centers, further helped by our own investments in electronics and new product development. And as expected, we saw a return to volume growth and a seasonal bump in the quarter sequentially over Q1.