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 reports developments in sensing and controls products, home comfort, safety and security solutions, and low-voltage distribution for residential and commercial end-markets. The company operates through Products & Solutions and ADI Global Distribution, with news commonly centered on earnings, segment performance, outlook, investor presentations, and capital allocation.
Company updates also cover Honeywell Home product launches, portfolio actions, and business-structure disclosures involving ADI Global Distribution. Resideo's product and distribution categories include thermostats, air and water solutions, smoke and carbon monoxide detection, security panels, sensors, video products, access control, fire detection, wire and cable, and related professional-channel offerings.
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.
Resideo Technologies (NYSE: REZI) will participate in the Raymond James 42nd Annual Institutional Investors Conference on March 3, 2021. The presentation is set to begin at 1:20 p.m. ET and will be available via a live webcast on Resideo's Investor Relations website. Resideo, a leading provider of home comfort and security solutions, operates in over 150 million homes globally and installs 15 million systems annually. For more details, visit www.resideo.com.