Allegion plc (NYSE:ALLE) Q3 2024 Earnings Conference Call October 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

Vivek Srivastava - Goldman Sachs
Julian Mitchell - Barclays
Joe O'Dea - Wells Fargo
Robert Schultz - Baird

Operator

Good morning and welcome to the Allegion Third Quarter 2024 Earnings Call. All participants will be in listen-only mode. [Operator Instructions]. After today's presentation, there will be an opportunity to ask questions. [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 Third 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 two.

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 three, and I'll turn the call over to John.

John Stone

Thanks, Josh. Good morning, everyone. Thanks for joining us. We can sum up this quarter with stable markets and strong execution. Q3 marks another quarter of strong execution by the entire Allegion team, resulting in revenue growth and margin expansion, demonstrating the resilience of our business model. I'm especially pleased with the top-line growth in the quarter, and overall, demand remains stable and is supported by our broad in-market exposure and specification expertise.

Institutional markets have continued to lead, while commercial verticals have been more mixed. We have accelerated capital deployment in 2024, returning cash to shareholders, and growing our business with accretive acquisitions. Our strong cash generation, balance sheet, and pipeline of opportunities continue to position us well for future capital deployment, creating long-term value for our shareholders.