Acquisitions and Strong Demand for Electronic Products Fuel Allegion's Excellent 3Q Revenue Growth
Allegion's excellent top line growth was the highlight of the company's third-quarter earnings release, in our view. The wide-moat security products company reported 17% revenue growth (8.5% organic), which was driven by robust electronic products volume, strong price realization, and acquisitions. Allegion's revenue growth was broad-based as all three of Allegion's segments reported organic revenue growth. A key element of our investment thesis is our belief that the continued market penetratio...
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