Resideo(US:REZI)2022-05-05 17:21Financial Highlights - Resideo's Q1 2022 revenue reached $1.5 billion, a 6% year-over-year increase[3, 4, 10] - The company's operating margin expanded by 220 basis points year-over-year, reaching 11.4% in Q1 2022[3, 4] - Net income increased by 78% to $87 million, with diluted EPS rising by 76% to $0.58[10] Segment Performance - Products & Solutions (P&S) revenue grew by 2% year-over-year to $619 million in Q1 2022[3, 6, 7, 10] - P&S operating margin improved by 320 basis points year-over-year, reaching 24.7% in Q1 2022[7] - ADI Global Distribution revenue increased by 9% year-over-year to $887 million in Q1 2022[3, 9, 10] - ADI's gross margin expanded by 200 basis points year-over-year, reaching 19.2% in Q1 2022[9, 10] - ADI's e-commerce sales grew by 24% year-over-year, reaching $150 million in Q1 2022[9] - ADI's private brand revenue grew by over 40% year-over-year[9, 17] Strategic Actions - Resideo deployed $630 million in capital for value-creating mergers and acquisitions, including First Alert and Arrow Wire & Cable[4] - The company completed the acquisition of First Alert on March 31, with integration activities underway[6]