Resideo Technologies (REZI) Beats Q2 Earnings and Revenue Estimates

Core Insights - Resideo Technologies reported quarterly earnings of $0.66 per share, exceeding the Zacks Consensus Estimate of $0.54 per share, and showing an increase from $0.62 per share a year ago [1] - The company achieved a revenue of $1.94 billion for the quarter, surpassing the Zacks Consensus Estimate by 6.43% and up from $1.59 billion year-over-year [3] Earnings Performance - The earnings surprise for the quarter was +22.22%, with a previous quarter surprise of +110% when actual earnings were $0.63 compared to an expected $0.30 [2] - Over the last four quarters, Resideo has exceeded consensus EPS estimates three times [2] Stock Performance - Resideo Technologies shares have increased approximately 11.8% year-to-date, outperforming the S&P 500's gain of 7.6% [4] - The current Zacks Rank for the stock is 3 (Hold), indicating expected performance in line with the market in the near future [7] Future Outlook - The consensus EPS estimate for the upcoming quarter is $0.59 on revenues of $1.88 billion, and for the current fiscal year, it is $2.40 on revenues of $7.39 billion [8] - The industry outlook is favorable, with the Security and Safety Services sector currently ranking in the top 30% of over 250 Zacks industries [9] Competitor Insights - Alarm.com Holdings, a competitor in the same industry, is expected to report quarterly earnings of $0.52 per share, reflecting a year-over-year decline of -10.3% [10] - Alarm.com Holdings' anticipated revenues are $244.54 million, representing a 4.6% increase from the previous year [11]