Allegion plc

Good day and welcome to the Allegiant Third Quarter 2025 Earnings Conference Call. All participants will be in a listen-only mode. Should you need assistance, please signal a conference specialist by pressing the star key followed by zero. After today's presentation, there will be an opportunity to ask questions. To ask a question, you may press star then one on a touchtone phone. To withdraw your question, please press star then two. Please note this event is being recorded. I would now like to turn the conference over to Vice President of Investor Relations, Josh Pokowinski. Please go ahead.

Thank you, Betsy. Good morning, everyone. Thank you for joining us for Allegiant's third quarter 2025 earnings call. With me today are John Stone, President and Chief Executive Officer, and Mike Wagnus, Senior Vice President and Chief Financial Officer of Allegiant. Our earnings release, which was issued earlier this morning, and the presentation, which we will refer to in today's call, are available on our website at investor.allegian.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 and the financial tables of our press release for further details. Please go to slide three, and I'll turn the call over to John.

Thanks, Josh. Good morning, everyone. Thanks for joining. Q3 was another strong quarter as we execute our long-term strategy and steadily deliver on our commitments to shareholders. I'm proud of our team's performance as we've remained agile in a dynamic operating environment. The double-digit revenue growth for the enterprise and continued segment margin expansion speaks to the resiliency of our model, our broad in-market exposures, and the depth of our relationships with channel partners and end users. We continue to take advantage of our business' strong cash generation, returning cash to shareholders, and growing our business through accretive acquisitions. Year to date, we have allocated approximately $600 million to acquiring businesses consistent with the priorities we outlined at our investor day. As we approach year end, the key market trends supporting our outlook are largely unchanged. Our team continues to execute well, and we are allocating capital for the long-term benefit of our shareholders. As such, we are raising our 2025 full-year outlook for adjusted earnings per share to $8.10 to $8.20. I'll be back later to discuss the outlook and share some early views on markets for 2026. Please go to slide four. Let's take a look at capital allocation for the third quarter, starting with our investments for organic growth. In September, the Allegiant team launched a new mid-tier commercial product line for Schlage, our performance series locks. These locks bring Schlage quality to more price points in non-residential applications giving us more ways to win in the aftermarket and building on the success of the mid-price point Von Duprin 70 Series exit devices released last year. Turning to M&A, since we spoke at Q2 earnings, Allegiant has announced two more acquisitions, UAP and Brassant. These UK-based businesses strengthen our product portfolio, including electronic locks, in addition to enhancing our cost position. discussed previously the acquisitions of Ellatech, Gatewise, and Waitwhile closed earlier in the third quarter. Allegiant continues to be a dividend paying stock and in the third quarter this amounted to 51 cents per share approximately 44 million dollars. We did not repurchase shares in the quarter and you can continue to expect Allegiant to be balanced, consistent, and disciplined in with capital deployment over time with a clear priority of investing for profitable growth. Mike will now walk you through the third quarter financial results.