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Resideo Technologies, Inc. (NYSE: REZI) is a globally recognized leader in providing innovative solutions that enhance home comfort, safety, and energy management. Established as an independent, publicly traded entity in 2018 following a spin-off from Honeywell, Resideo's mission centers around delivering integrated and user-friendly connected home solutions.
Resideo's portfolio encompasses an array of products designed to ensure homeowners' safety and comfort. These include connected thermostats, professionally installed and monitored security systems, DIY security kits, carbon monoxide and fire detection devices, furnace and boiler controls, water leak detectors, air purifiers, and humidifiers. Their software applications enable remote home management from any mobile device, providing unparalleled convenience and peace of mind.
The company operates through two main segments: Products and Solutions and ADI Global Distribution. The Products and Solutions segment focuses on temperature and humidity control, energy management, water and air solutions, and home safety products like smoke detectors and security panels. Meanwhile, the ADI Global Distribution segment serves over 100,000 low-voltage contractors worldwide, providing products such as security cameras, access control systems, fire detection devices, and communication equipment through more than 200 physical locations globally.
In recent developments, Resideo has shown resilience and strategic foresight. The company reported a consolidated net revenue of $1.55 billion for Q3 2023, with continued efforts to optimize its portfolio and operational footprint. Noteworthy achievements include the sale of its non-strategic Genesis Cable business and the acquisition of Sfty, a Norwegian-based life safety monitoring technology provider. These moves underscore Resideo's commitment to focusing on core long-term strategic initiatives.
With a vision towards sustainable growth, Resideo has undertaken significant cost reduction initiatives, improved gross margins through efficient cost management, and strengthened its relationships within key channels such as insurance. Furthermore, the company continues to advance its digital capabilities, particularly within the ADI segment, which saw a notable 5% growth in its e-commerce channel during Q3 2023.
Leadership changes have also been pivotal, with the appointment of Tom Surran as President of the Products & Solutions business. His extensive experience in product management and operations is expected to drive innovation and operational excellence across the segment.
Resideo remains a formidable force in the home solutions market, driven by a strategic vision, robust financial health, and a commitment to delivering value through cutting-edge technology and comprehensive customer solutions.
Resideo Technologies, Inc. (NYSE: REZI) announced its upcoming release of first quarter 2023 financial results, scheduled for May 3, 2023, after the close of the New York Stock Exchange. Following the release, a conference call will take place at 5:00 p.m. ET on the same day, with options for interested parties to join via webcast or by phone. Resideo operates as a major global provider of technology-driven home comfort, energy management, and safety products, servicing over 150 million homes globally. It also has a significant presence in wholesale distribution of low-voltage security and life safety products. For more details, visit their Investor Relations page.
Resideo Technologies, Inc. (NYSE: REZI), a leader in technology-driven home comfort and safety solutions, will participate in two major investor conferences. The first conference, the J.P. Morgan Global High Yield & Leveraged Finance Conference, is scheduled for March 7, 2023, in Miami, FL. The second event is the Morgan Stanley Technology, Media & Telecom Conference on March 8, 2023, in San Francisco, CA, with a presentation at 2:40 p.m. PT. Resideo is known for its extensive range of products aimed at enhancing home comfort and energy efficiency, serving over 150 million homes globally.
Resideo Technologies, Inc. reported a record net revenue of $6.37 billion for the full year 2022, a 9% increase from $5.85 billion in 2021. The gross profit margin improved to 27.7% from 27.1% in 2021, while operating income rose to $611 million. Fully diluted EPS was $1.90, up from $1.63. For Q4 2022, revenue reached $1.56 billion (up 7% YoY) but operating income fell to $98 million due to $35 million in restructuring expenses. The company plans a 5% workforce reduction to save $70 million annually amid economic uncertainty. 2023 guidance anticipates revenue between $6.2 - $6.55 billion.
Resideo Technologies, Inc. (NYSE: REZI) announced the release of its fourth quarter and full year 2022 financial results on February 15, 2023, after the close of the New York Stock Exchange. A conference call will accompany the release, starting at 5:00 p.m. ET the same day. Interested parties can join the call through the Investor Relations section of Resideo's website or by dialing in. Resideo, a global provider of home comfort and security solutions, serves over 150 million homes with a presence in more than 100 countries.
Resideo Technologies, a global provider of home comfort and security solutions, will participate in several upcoming investor conferences. Key dates include:
- Baird Global Industrial Conference in Chicago on November 8, 2022, at 11:25 p.m. CT.
- NYSE Industrials Virtual Investor Access Day on November 15, 2022.
- BofA Securities Leveraged Finance Conference in Boca Raton on November 29, 2022, at 4:10 p.m. ET.
- Imperial Capital Security Investor Conference in New York on December 15, 2022.
For more information about Resideo, visit www.resideo.com.
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