Disclaimer 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 statements are based upon reasonable assumptions, such statements involve known and unknown risks and uncertainties, which may cause the actual results or performance of the Co ...

Financial Data and Key Metrics Changes - Consolidated second quarter revenue was $1.6 billion, a decline of 5% compared to Q2 last year, but up 8% compared to Q2 2021, with a 7% compounded annual growth rate since Q2 2019 [1] - Operating income for the quarter was $153 million, down from $186 million last year, with fully diluted earnings per share at $0.34 compared to $0.63 last year [2] - Adjusted EBITDA was $149 million, down from $180 million a year earlier, while cash from operations was strong at $121 million compared to $35 million last Q2 [3][2] Business Line Data and Key Metrics Changes - Products & Solutions revenue was $677 million, down 11% compared to Q2 2022, but up 13% compared to Q2 2021, with a 6% compound growth rate over the past four years [52] - ADI's revenue was $925 million, essentially flat compared to the prior year, with growth in North America offset by declines in EMEA and the sale of India operations [57] - Products & Solutions gross margin improved to 38.3%, up 100 basis points from last year, while ADI's gross margin was 19.2%, down from 20% last year [55][58] Market Data and Key Metrics Changes - The residential market conditions remained challenging, with slower retail traffic and excess inventory in the HVAC distribution channel impacting volumes and mix [79] - Demand in the HVAC market was further impacted by cool spring weather across much of the US, with new construction activity down double-digits compared to 2022 [80][79] - The average product dollar content for new homes grew by over 15% year-over-year, driven by increased penetration of smoke and CO detector products into the homebuilder channel [81] Company Strategy and Development Direction - The company is focused on managing costs to preserve margins while continuing new product initiatives and overall transformation [13] - Plans include launching new products such as smoke and fire alarms compliant with upcoming regulations and expanding the First Alert product line [6][7] - The company aims to reduce inventory days from the current low 90s to a target of around 70 days, which could generate approximately $150 million in cash [51] Management's Comments on Operating Environment and Future Outlook - Management noted that the residential market conditions are expected to remain soft for the remainder of 2023, with continued year-on-year volume declines creating revenue and margin headwinds [60] - The company anticipates taking a restructuring charge of at least $25 million in Q3, with actions expected to generate additional annual savings of at least $45 million [61] - Management expressed confidence in the long-term vision of creating homes and buildings that are good for the planet, leveraging their unique position with professional contractors and a broad product range [38] Other Important Information - The Board of Directors approved a $150 million share repurchase authorization, viewing it as an important part of a balanced capital allocation plan [76] - The company expects consolidated gross margin for the full year to be in the range of 26.2% to 27.2%, with operating profit expected to be between $530 million and $570 million [62] Q&A Session Summary Question: How should we think about additional pricing power for the back half of the year? - Management indicated that pricing has held steady, but additional pricing actions will be limited due to soft volumes and abated inflationary pressures [44] Question: Can you provide more color on initiatives for deeper penetration of the builder channel? - Management noted that First Alert products have provided an entrée into the homebuilding community, with ongoing momentum expected [47] Question: What is the timing for channel inventory normalization? - Management stated that reaching the target inventory level of 70 days will take time, likely extending into 2024 due to commitments made during supply chain challenges [70]

Company Participants Operator Good afternoon, everyone, and thank you for joining us for Resideo's first quarter 2023 earnings call. Actual results may differ materially from those in the forward-looking statements as a result of a number of factors, including those described from time to time in Resideo's filings with the Securities and Exchange Commission. The company assumes no obligation to update any such forward-looking statements. We identify the principal risks and uncertainties that affect our perf ...

Disclaimer 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 statements are based upon reasonable assumptions, such statements involve known and unknown risks and uncertainties, which may cause the actual results or performance of the Co ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K (Mark One) ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2022 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ______ to _____ Commission File Number 001-38635 Resideo Technologies, Inc. (Exact name of registrant as specified in its charter) | Delaware | 8 ...

Resideo Technologies, Inc. (NYSE:REZI) Q4 2022 Earnings Conference Call February 15, 2023 5:00 PM ET Company Participants Jason Willey - Vice President of Investor Relations Jay Geldmacher - Chief Executive Officer Tony Trunzo - Chief Financial Officer Conference Call Participants Erik Woodring - Morgan Stanley Ian Zaffino - Oppenheimer Paul Chung - JPMorgan Paul Dircks - William Blair Brett Kearney - Gabelli Funds Brian Ruttenbur - Imperial Capital Operator Ladies and gentlemen, at this time I would like t ...

| --- | --- | --- | |--------------------------------------------|-----------|-------| | | | | | Additional paid-in capital | 2,176 | 2,121 | | Retained earnings | 600 | 317 | | Accumulated other comprehensive loss, net | (212) | (165) | | Treasury stock at cost | (35) | (21) | | Total stockholders' equity | 2,529 | 2,252 | | Total liabilities and stockholders' equity | 6,387 $ | 5,853 | | --- | --- | --- | --- | --- | --- | --- | --- | --- | |---------------------------------------------------------------- ...

Resideo Technologies, Inc. (NYSE:REZI) Q3 2022 Earnings Conference Call November 1, 2022 5:00 PM ET Company Participants Jason Willey - Vice President, Investor Relations Jay Geldmacher - Chief Executive Officer Tony Trunzo - Chief Financial Officer Conference Call Participants Ryan Merkel - William Blair Amit Daryanani - Evercore Erik Woodring - Morgan Stanley Ian Zaffino - Oppenheimer Brett Kearney - Gabelli Funds Paul Chung - JPMorgan Operator Ladies and gentlemen, at this time I would like to welcome ev ...

resideo Q3 2022 RESULTS PRESENTATION November 1, 2022 | --- | --- | |----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- ...

Resideo Technologies, Inc. (NYSE:REZI) Q2 2022 Earnings Conference Call August 4, 2022 5:00 PM ET Company Participants Jason Willey – Vice President-Investor Relations Jay Geldmacher – Chief Executive Officer Tony Trunzo – Chief Financial Officer Conference Call Participants Michael Fisher – Evercore ISI Paul Dircks – William Blair Operator Ladies and gentlemen, at this time, I would like to welcome everyone to the Resideo Technologies Second Quarter 2022 Earnings Conference Call. Today's call is being reco ...