Feb 18 (Reuters) - Allegion ALLE.N reported fourth-quarter revenue and profit above Wall Street estimates on Tuesday, driven by strong demand for its locks, keys and electronic security systems used in residential and commercial buildings.
Allegion benefited from an increase in demand for the company's residential products, which was previously subdued due to a slow housing market in the U.S.
Price hikes for its locks, keys and electronic security systems also helped the company offset inflation-related costs.
Sales in the company's Americas region, its biggest, rose 6.4% in the quarter. The organic revenue increase was driven by higher prices and volume growth, Allegion said.
Its international business revenue increased 1.5% due to higher prices, which offset volume decline.
Allegion expects its 2025 adjusted profit per share to be between $7.65 and $7.85, compared with analysts' expectations of $7.76, according to data compiled by LSEG.
Its fourth-quarter adjusted profit per share was $1.86, compared with analysts' average expectation of $1.75.
Quarterly revenue rose 5.4% to $945.6 million compared to the previous year, and above expectations of $938.6 million.
(Reporting by Kannaki Deka in Bengaluru; Editing by Vijay Kishore)
((Kannaki.Deka@thomsonreuters.com;))
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