Welcome to our dedicated page for Resideo Technologies news (Ticker: REZI), a resource for investors and traders seeking the latest updates and insights on Resideo Technologies stock.
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) will announce its fourth quarter and full year 2021 financial results on February 15, 2022, after the market closes. Accompanying the release, a conference call will take place at 5:00 p.m. ET the same day, accessible via the company's Investor Relations website. Resideo provides home comfort and security solutions, serving over 150 million homes worldwide and distributing products through more than 110,000 professionals.
Resideo Technologies (NYSE: REZI) hosted its 32nd annual CONNECT event, emphasizing support for security and HVAC professionals. Key innovations include the Pro-IQ™ monitoring service, aimed at enhancing customer relationships with 24/7 insights. The company unveiled new offerings for residential builders, promoting eco-conscious smart home solutions through its BuildSmart™ program. Training initiatives were highlighted through Resideo Academy, aimed at improving professional skills. With a legacy of 130 years, Resideo continues to transform home comfort and security across the globe.
Resideo Technologies Inc. (NYSE: REZI) has announced the integration of the Amazon Smart Thermostat into its Connected Savings portfolio. This partnership aims to enhance utility energy efficiency and drive participation in rewards programs. The thermostat, utilizing Honeywell Home technology, supports energy-saving initiatives that reduce carbon emissions and improve grid reliability. Priced at $59.99, it is ENERGY STAR® certified and conveniently links customers to utility rebates.
Resideo Technologies, Inc. (NYSE: REZI) reported a 10% increase in third-quarter revenue, reaching $1.5 billion, with a gross profit margin of 27.8%. Operating profit surged to $167 million, and cash from operations increased to $104 million. However, net income fell to $68 million, or $0.46 per diluted share. For 2021, Resideo revised its revenue outlook to $5.83 billion - $5.88 billion and projected fourth-quarter revenue between $1.44 billion - $1.49 billion, citing supply chain challenges impacting demand fulfillment.
Resideo Technologies (NYSE: REZI) will announce its third quarter 2021 financial results on November 4, 2021, after the market close. A conference call and webcast will follow on the same day at 5:00 p.m. ET. Investors can access the call via the Investor Relations section of Resideo's website. The company, known for its home comfort and security solutions, serves over 150 million homes worldwide with approximately 15 million systems installed annually.
Resideo Technologies (NYSE: REZI) announced the appointment of Dana Huth as executive vice president and chief revenue officer, effective immediately. Huth, with over 30 years of leadership experience, previously served as chief revenue officer for Advanced Energy and president of Artesyn Embedded Power, where he significantly increased annual revenues. Huth's expertise will aid Resideo's strategy for global revenue growth. President and CEO Jay Geldmacher emphasized Huth's ability to develop customer relationships and scale new business units, crucial for Resideo's ongoing market expansion.
Resideo Technologies (NYSE:REZI) announced the pricing of its private offering of $300 million 4.000% Senior Notes due 2029. The notes will be fully guaranteed by Resideo and its subsidiaries. The funds will be used to redeem $260 million of outstanding 6.125% Senior Notes due 2026 and cover related costs. The closing of the sale is expected on August 26, 2021. The offering is limited to qualified institutional buyers in compliance with SEC regulations.
Resideo Technologies (NYSE:REZI) has announced the commencement of a private offering of $300 million in Senior Notes due 2029. The proceeds will be used to redeem outstanding 6.125% Senior Notes due 2026, totaling $260 million, and for general corporate purposes. The offering is targeted at qualified institutional buyers under Rule 144A and will not be registered under the Securities Act. This move reflects Resideo's strategy to manage its debt effectively as it continues its operations in the technology-driven products market.
Resideo Technologies, Inc. (NYSE: REZI) reported a strong second quarter of 2021 with net revenue of $1.5 billion, a 44% increase from the previous year. The gross profit margin improved to 25.8%. Operating profit reached $121 million, marking a significant recovery from a loss of $6 million in Q2 2020. As of July 3, 2021, cash and cash equivalents totaled $579 million. Resideo updated its 2021 guidance, projecting revenue between $5.85 billion and $5.95 billion and operating profit between $535 million and $565 million.
Resideo Technologies, Inc. (NYSE: REZI) will announce its second quarter 2021 financial results after market close on August 5, 2021. A conference call for investors is scheduled for the same day at 5:00 p.m. EDT. Interested parties can access a real-time audio webcast via the Resideo investor relations website. Resideo is a global leader in technology-driven products, serving over 150 million homes with a presence in more than 100 countries. This financial update is crucial for shareholders and market analysts monitoring the company's performance.
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