Net revenue growth of 18% year-over-year; mid-single-digit organic revenue growth at both ADI and Products and Solutions Products and Solutions gross margin of 42.2%, sixth consecutive quarter of year-over-year improvement Net income available to common stockholders of $11 million; adjusted EBITDA of $190 million, above the high end of outlook range Strong demand for the refreshed Honeywell Home Focus Pro™ thermostat portfolio, first in a cadence of new product introductionsSCOTTSDALE, Ariz., Nov. 7, 2024 ...

Jay Geldmacher to retire as President and CEO, and member of the Board of Directors in 2025Current Vice-Chair, Andrew C. Teich, to become ChairmanSCOTTSDALE, Ariz., Nov. 7, 2024 /PRNewswire/ -- Resideo Technologies, Inc. (NYSE: REZI), a leading global manufacturer and distributor of technology-driven products and solutions that provide home comfort and smart living, security, life safety and energy efficiency to consumers and businesses, today announced that Jay Geldmacher, President and Chief Executive Off ...

SCOTTSDALE, Ariz., Oct. 15, 2024 /PRNewswire/ -- Resideo Technologies, Inc. (NYSE: REZI), a leading global provider of home comfort, life safety and security solutions, and distributor of commercial and residential security and audio-visual products, will release third quarter 2024 financial results after the close of the New York Stock Exchange on Thursday, November 7, 2024. A conference call and simultaneous webcast to discuss the results will be held on Thursday, November 7 at 5:00 p.m. ET. Interested in ...

10-point increase in EcoVadis score New carbon reduction targets for Scope 1 and 2 GHG emissions SCOTTSDALE, Ariz., Aug. 28, 2024 /PRNewswire/ -- Resideo Technologies Inc. (NYSE: REZI), a leading global provider of home comfort, life safety and security solutions, and distributor of commercial and residential security, safety, smart-living and audio-visual products, today released its 2023 Environmental, Social and Governance (ESG) report, detailing its ESG progress, new climate commitments, and continued e ...

| --- | --- | --- | |-------------------------------|-------|-------| | | | | | | | | | Q2 2024 RESULTS PRESENTATION | | | | August 8, 2024 | | | Disclaimer Forward-Looking Statements This presentation contains "forward-looking statements." All statements, other than statements of fact, that address activities, events or developments that we or our management intend, expect, project, believe or anticipate will or may occur in the future are forward-looking statements. Although we believe forward-looking sta ...

Resideo Technologies, Inc. (NYSE:REZI) Q2 2024 Earnings Call August 8, 2024 5:00 PM ET Company Participants Jason Willey - Vice President, Investor Relations Jay Geldmacher - Chief Executive Officer Tony Trunzo - Chief Financial Officer Rob Aarnes - President, Resideo’s ADI Global Distribution Business Tom Surran - President, Products and Solutions Conference Call Participants Erik Woodring - Morgan Stanley Michael Fisher - Evercore Isaac Sellhausen - Oppenheimer Danny Pfeiffer - JPMorgan Operator Ladies an ...

Resideo Technologies (REZI) came out with quarterly earnings of $0.62 per share, beating the Zacks Consensus Estimate of $0.50 per share. This compares to earnings of $0.34 per share a year ago. These figures are adjusted for non-recurring items. This quarterly report represents an earnings surprise of 24%. A quarter ago, it was expected that this residential comfort and security systems maker would post earnings of $0.33 per share when it actually produced earnings of $0.47, delivering a surprise of 42.42% ...

Financial Performance - Second quarter net revenue was $1.59 billion, a decrease of 1% from $1.60 billion in the second quarter of 2023[3] - Net income for the second quarter was $30 million, down from $50 million in the same period last year[3] - Adjusted EBITDA reached $175 million, an increase of 13% compared to $155 million in the second quarter of 2023[3] - Total company net revenue for Q2 2024 was $1,589 million, a decrease of 1% compared to Q2 2023's $1,602 million[19] - Gross profit for Q2 2024 was $447 million, reflecting an increase of 3% from $436 million in Q2 2023[19] - Income from operations for Q2 2024 was $122 million, down from $153 million in Q2 2023, representing a decrease of 20%[19] - GAAP net income for the three months ended June 29, 2024, was $30 million, a decrease of 40% from $50 million for the same period in 2023[27] - Net revenue for the three months ended June 29, 2024, was $1.59 billion, slightly down from $1.60 billion in the prior year, representing a decrease of about 0.6%[30] - Non-GAAP adjusted EBITDA for the three months ended June 29, 2024, was $175 million, an increase of 12.9% from $155 million in the same period last year[30] - Cash flows from operating activities provided $92 million for the three months ended June 29, 2024, compared to $121 million for the same period in 2023, indicating a decline of 24%[25] Segment Performance - Products and Solutions segment reported net revenue of $630 million, a decline of 7% year-over-year[5] - ADI Global Distribution achieved net revenue of $959 million, a 4% increase compared to the second quarter of 2023[7] - Net revenue for the three months ended June 29, 2024, was $630 million, a decrease of 6.9% compared to $677 million for the same period in 2023[32] - In the ADI Global Distribution segment, net revenue for the three months ended June 29, 2024, was $959 million, an increase of 3.7% from $925 million in the prior year[34] Expenses and Costs - Research and development expenses decreased by 28% year-over-year to $21 million in Q2 2024, compared to $29 million in Q2 2023[19] - Selling, general and administrative expenses increased by 16% to $280 million in Q2 2024, up from $242 million in Q2 2023[19] - Stock-based compensation expense for the three months ended June 29, 2024, was $4 million, down from $5 million in the prior year[32] - The company reported acquisition and integration costs of $4 million in the ADI segment for the three months ended June 29, 2024[34] Guidance and Future Outlook - The company expects third quarter 2024 net revenue to be between $1.79 billion and $1.83 billion[11] - Full year 2024 net revenue guidance is set at $6.68 billion to $6.76 billion[11] Balance Sheet and Cash Flow - Total current assets as of June 29, 2024, were $2,884 million, an increase from $2,743 million at the end of 2023[21] - The company reported a cash and cash equivalents balance of $413 million as of June 29, 2024, down from $636 million at the end of 2023[21] - Total liabilities increased to $4.69 billion as of June 29, 2024, compared to $3.90 billion at December 31, 2023, reflecting a growth of approximately 20%[24] - Total stockholders' equity increased to $3.29 billion as of June 29, 2024, up from $2.75 billion at December 31, 2023, marking a growth of approximately 19.9%[24] - The company reported a net cash used in investing activities of $1.34 billion for the three months ended June 29, 2024, primarily due to acquisitions[25] - The company issued $582 million in incremental term loans under the A&R Term B Facility during the reporting period[25] Management Changes - The company appointed Mike Carlet as the new Chief Financial Officer, effective August 9, 2024[2]

Second quarter net income of $30 million; Adjusted EBITDA of $175 million, above the high end of outlook range Products and Solutions second quarter gross margin of 41.3%, fifth consecutive quarter of year-over-year improvement Continued progress on business transformation with forthcoming new product introductions and completed acquisition of Snap One Appoints new Chief Financial Officer, Mike Carlet, former Snap One CFO SCOTTSDALE, Ariz., Aug. 8, 2024 /PRNewswire/ -- Resideo Technologies, Inc. (NYSE: REZI ...

About Resideo SCOTTSDALE, Ariz., July 15, 2024 /PRNewswire/ -- Resideo Technologies, Inc. (NYSE: REZI), a leading global provider of home comfort, life safety and security solutions, and distributor of commercial and residential security and audio-visual products, will release second quarter 2024 financial results after the close of the New York Stock Exchange on Thursday, August 8, 2024. A conference call and simultaneous webcast to discuss the results will be held on Thursday, August 8 at 5:00 p.m. ET. Co ...