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) reported strong financial results for FY2024, with net revenue of $6.76 billion, up 8% from 2023, exceeding outlook expectations. The company achieved record operating cash flow of $444 million and Adjusted EBITDA of $693 million, up 17% year-over-year.
Q4 2024 showed significant growth with revenue up 21% to $1.86 billion, though net income decreased to $23 million from $82 million in Q4 2023. Products and Solutions segment maintained strong performance with gross margin at 40.8%, marking the seventh consecutive quarter of year-over-year improvement.
Notable developments include the acquisition of Snap One for $1.4 billion, with integration progressing ahead of schedule, achieving $17 million in run-rate synergies. ADI Global Distribution saw 18% revenue growth, while Products and Solutions revenue declined 4% but showed margin improvements.
Resideo Technologies (NYSE: REZI) has announced it will release its fourth quarter and full year 2024 financial results after the NYSE market close on February 20, 2025. The company will host a conference call and webcast at 5:00 p.m. ET on the same day to discuss the results.
Investors can access the webcast through Resideo's Investor Relations website at investor.resideo.com, where related materials will be available before the call. Alternatively, participants can join via phone by dialing 888-660-6357 (U.S. toll-free) or 1-929-201-6127 (international) using conference ID 7301399. A replay will be available following the presentation.
Resideo Technologies (REZI) has unveiled the new Honeywell Home X2S smart thermostat at CES 2025, set to launch in Spring 2025 at $79.99. The Matter-enabled and ENERGY STAR® certified device offers significant energy savings, with heating users saving 22% and cooling users saving 17% on HVAC energy consumption when using the scheduling feature.
The smart thermostat features compatibility with major platforms including Amazon Alexa, Google Home, and Apple Home, while offering control through Resideo's First Alert app. Key features include automatic away mode, indoor air quality monitoring, humidity tracking, and filter replacement reminders. The device utilizes Honeywell Home Thermostat Technology with a UWP® wall-mounting plate for easy installation.
Resideo Technologies (NYSE: REZI) has announced its participation in four upcoming investor conferences in November and December 2024. The schedule includes the NYSE Industrials Conference (Virtual) on November 19, Wells Fargo TMT Summit in Rancho Palos Verdes on December 3, Bank of America Leveraged Finance Conference in Boca Raton on December 4, and Raymond James TMT and Consumer Conference in New York on December 10.
CFO Mike Carlet will participate in fireside chats at both the Bank of America and Raymond James conferences, scheduled for 10:50AM ET and 10:40AM ET respectively. These sessions will be webcast live and available for replay on Resideo's Investor Relations website for 30 days.
Resideo Technologies (NYSE: REZI) announced that President and CEO Jay Geldmacher will retire in 2025. He will remain in his roles until a successor is named and will then serve as a senior advisor. The Board has engaged an executive search firm to find his replacement. Geldmacher highlighted the company's achievements, including portfolio refocusing, improved cash flow, and market expansion. Andrew C. Teich, the current Vice-Chair, is now the Chairman of the Board, replacing Roger B. Fradin. Fradin will continue to advise Resideo. Teich has been with Resideo since its launch and has significant industry experience.
Resideo Technologies announced its Q3 2024 financial results, reporting an 18% increase in net revenue year-over-year to $1.83 billion. Net income available to common stockholders was $11 million, down from $21 million in Q3 2023. Adjusted EBITDA rose to $190 million, surpassing the outlook range. The Products and Solutions segment saw a gross margin of 42.2% and net revenue of $645 million, down 1% year-over-year. The ADI Global Distribution segment's net revenue increased 31% to $1,183 million, driven by the Snap One acquisition. Gross margin for ADI improved to 21.3%. Resideo expects continued positive momentum into Q4 2024 and 2025, with Q4 revenue projected between $1.815 billion and $1.855 billion. Full-year 2024 revenue is forecasted between $6.72 billion and $6.76 billion.
Resideo Technologies, Inc. (NYSE: REZI), a leading global provider of home comfort, life safety and security solutions, and distributor of commercial and residential security and audio-visual products, has announced it will release its third quarter 2024 financial results after the close of the New York Stock Exchange on Thursday, November 7, 2024.
The company will hold a conference call and simultaneous webcast to discuss the results on the same day at 5:00 p.m. ET. Investors and interested parties can access the webcast through the Investor Relations section of Resideo's website at https://investor.resideo.com. Related materials will be posted before the call, and a replay will be available after the presentation.
For those who prefer to join by phone, the conference call can be accessed by dialing 888-660-6357 (U.S., toll-free) or 1-929-201-6127 (international), using the conference title "Resideo Third Quarter 2024 Earnings" or the conference ID: 7301399.
First Alert, the most trusted brand in fire safety, highlights the importance of functional smoke alarms during Fire Prevention Month. A recent survey reveals that 60% of Americans have experienced nuisance alarms, with 41% disconnecting their alarms and 35% removing batteries, leaving homes unprotected. Ryan Park, Senior Product Director, emphasizes the danger of deactivating smoke alarms and introduces First Alert's Precision Detection technology to reduce nuisance alarms.
The survey found that 27% of nuisance alarms occurred during gatherings, primarily caused by cooking activities. First Alert recommends installing smoke and carbon monoxide alarms on every level of the home, including bedrooms. The company is partnering with Lowe's stores nationwide on October 12 for Fire Prevention Month safety events, offering education and activities for families.
Resideo Technologies (NYSE: REZI) has released its 2023 Environmental, Social and Governance (ESG) report, highlighting significant progress and new long-term targets. Key achievements include:
- A 10-point increase in EcoVadis score, placing Resideo in the top 8% of its peer category
- New carbon reduction target of 50% for Scope 1 and 2 emissions by 2035
- Nearly $5M investment in ESG-related capital expenditures for EMEA facilities
- Continued focus on sustainability-aligned innovation through the Green Horizons framework
- Emphasis on employee wellbeing and growth through training and mentorship programs
- Ongoing community impact initiatives with organizations like Mission 500 and Habitat for Humanity
The report underscores Resideo's commitment to transparency and progress in environmental sustainability, social responsibility, and ethical governance.
MSC Industrial Supply Co. (NYSE: MSM) has announced the addition of Rob Aarnes to its Board of Directors as an independent member. This move strengthens MSC's corporate governance profile and aligns with the reclassification agreement with shareholders. Aarnes, currently the President of ADI Global Distribution, brings extensive experience in operations management and a track record of driving profitable growth across various C-level roles. His background in distribution business models similar to MSC's is expected to provide valuable insights as the company works towards achieving its full potential and creating shareholder value.
Aarnes has led ADI, a $4.6B global wholesale distributor, since 2017. ADI is part of Resideo Technologies, Inc. (NYSE: REZI), a $7.3B manufacturer and distributor of smart-living products. Aarnes' diverse experience includes roles in private equity, specialty retail, and big box consumer electronics retail. He is a graduate of the United States Naval Academy and holds an MBA from San Diego State University.