TranscriptsIrelandSep. 10, 2025 7:50 PM ETAllegion plc (ALLE) StockALLESA Transcripts155.33K FollowersAllegion plc (NYSE:ALLE) Morgan Stanley’s 13th Annual Laguna Conference September 10, 2025 5:35 PM EDTCompany ParticipantsMichael Wagnes - Senior VP & CFOJoshua Pokrzywinski - Vice President of Investor RelationsConference Call ParticipantsChristopher Snyder - Morgan Stanley, Research DivisionPresentationChristopher SnyderEquity AnalystAll right. Thank you, everybody. Chris Snyder, U.S. multi-industry analyst. Super excited to have Allegion with us today. We have Mike Wagnes, CFO; Josh Pokrzywinski, IR, who is quite familiar with this stage, I have to imagine. Thank you guys for coming.Michael WagnesSenior VP & CFOThanks for having us, Chris.Question-and-Answer SessionChristopher SnyderMorgan Stanley, Research DivisionAbsolutely. I guess access control, it's an industry with great pricing power, really premium margins. I guess what is the moat here that keeps the industry consolidated, kind of restricts new entrants and allows everyone to generate strong margins?Michael WagnesSenior VP & CFOYes. If you look at our industry, there's two players, especially in North America, who are able to outfit the building with a suite of products necessary to hit all elements of the building. We are blessed to be one of those 2two As a result, it's a highly configured specified product and part of our unique front end and our front end is different. We create demand by influencing the architect and the end user and we pull product through the channel.So by creating that demand the way we do, we're able to get a sticky installed base, a sticky end-user relationship, and that gives us the pricing power and really the ability to maintain end-user relationships and customer relationships for our products.Christopher SnyderMorgan Stanley, Research DivisionCan you talk a little bit more about that spec writing process and how it differentiates AllegionRead more current ALLE analysis and newsView all earnings call transcriptsCommentsRecommended For YouAbout ALLE StockSymbolLast Price% Chg1D5D1M6M1Y5Y10YMarket CapRev Growth (YoY)Short InterestPrev. CloseTrending AnalysisTrending News