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) generates frequent news and disclosures as a global manufacturer, developer, and distributor of technology-driven sensing and controls products and solutions for residential and commercial end-markets. News about Resideo often covers developments in its Products & Solutions segment, which focuses on residential controls and sensing solutions, and its ADI Global Distribution segment, which operates as a global wholesale distributor of low-voltage security, fire, audio-visual, access control, smart living, and data communications products.
Recent press releases illustrate the types of updates investors and observers can expect. Product news includes announcements such as the Honeywell Home X8S smart thermostat, described by the company as a premium smart thermostat with a large touchscreen, integrated live video streaming from compatible doorbells, indoor air quality monitoring features, and connectivity with major smart home platforms. Other product-related updates highlight connected smoke and carbon monoxide detectors, water and energy products, and security and indoor air quality offerings under brands like Honeywell Home, First Alert, BRK, and Control4.
Resideo’s news flow also includes financial results and outlook updates, where the company reports quarterly net revenue, segment performance for Products & Solutions and ADI, gross margins, and Adjusted EBITDA. These releases may discuss revenue drivers such as demand for new products, performance across retail, OEM, and distribution channels, and contributions from acquisitions. In addition, the company issues announcements about strategic actions, including its stated intention to separate the ADI Global Distribution business into an independent public company and portfolio moves such as the sale of its Grid Services demand response business to EnergyHub.
Corporate and capital markets news items include participation in investor conferences, earnings call schedules, and transactions related to the termination of the Indemnification and Reimbursement Agreement with Honeywell and associated financing arrangements. Visitors to this REZI news page can review these updates in one place, using them to track Resideo’s product introductions, segment trends, strategic transactions, and governance developments over time.
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.
Resideo Technologies, a leading provider of home comfort and security solutions, announced participation in several upcoming virtual investor conferences. Key events include the KeyBanc Industrials & Basic Materials conference on June 4, 2021, and the Evercore ISI TMT Conference on June 7, 2021, where Resideo will present at 11:45 a.m. EDT. Additionally, they will be present at the Baird 2021 Global Consumer, Technology & Services Conference on June 10, 2021. Interested parties can access the live webcast through Resideo's Investor Relations webpage.
Resideo Technologies, Inc. (NYSE: REZI) announced its acquisition of Shoreview Distribution, a distributor of audio, video, and broadcast equipment. This strategic move is aimed at enhancing Resideo's ADI Global Distribution business and strengthening its presence in the Pro AV market. Shoreview, founded in 1989, provides critical industry brands and improves product availability with its warehouse locations on both the east and west coasts. The CEO emphasized that this acquisition aligns with ADI's growth strategy in adjacent markets, marking the third acquisition since early 2020.
Resideo Technologies reported strong Q1 2021 results, with net revenue of $1.4 billion, a 20% increase year-over-year. The gross profit margin improved to 25.9% from 24.1% in Q1 2020. Operating profit surged to $130 million, a significant rise from $34 million in the previous year. Net income rose to $49 million or $0.33 per diluted share, compared to a loss of $21 million in Q1 2020. The company expects full-year revenue of $5.5 billion to $5.7 billion and Q2 revenue between $1.40 billion and $1.45 billion.
Resideo Technologies, Inc. (NYSE: REZI) will announce its first quarter 2021 financial results after the close of the New York Stock Exchange on May 6, 2021. A conference call to discuss these results will take place on the same day at 5:00 p.m. EDT, accessible via a real-time audio webcast on their investor relations page. Resideo specializes in technology-driven products for comfort, security, and energy efficiency, serving over 110,000 professionals worldwide and maintaining a presence in more than 150 million homes.
Resideo Technologies has acquired Norfolk Wire & Electronics, a prominent distributor in the telecom and AV market based in Richmond, VA. This acquisition strengthens Resideo’s ADI Global Distribution segment, enhancing its product offerings, particularly in the Data Communications market. With Norfolk’s extensive distribution network and services, Resideo aims to expand its reach in the mid-Atlantic region, responding to the increasing demand for high-speed connectivity and IoT devices. The transaction details were not disclosed.
Resideo Technologies, Inc. (NYSE: REZI) has appointed Kareem Yusuf, Ph.D., to its Board of Directors. Dr. Yusuf, with over 17 years of executive experience at IBM, currently leads AI Applications, managing a multibillion-dollar P&L. His expertise encompasses product management, software development, and technical sales. He aims to support Resideo’s transformation and market expansion efforts. The appointment reflects the company's commitment to innovation and enhancing its technology foundation, as emphasized by Chairman Roger Fradin.