- Allegion posted another better-than-expected quarter, with stronger revenue driven by a red-hot U.S. residential market and an emerging recovery in non-resi led by aftermarket sales.
- Strong aftermarket demand for touchless product retrofits is bridging Allegion over to a recovery in non-resi starts in 2022 and healthier key markets like hospitality and healthcare.
- Investors have started favoring longer-cycle plays (like non-resi), but Allegion shares have plateaued despite two good quarters, and expectations are not low as cost inflation looms over margins.
For further details see:
Allegion Leveraging Exceptional Resi Strength, As Non-Resi Starts To Come Back