Resideo Technologies Stock Price, News & Analysis

Resideo Technologies, Inc. (NYSE: REZI) is set to release its third quarter 2022 financial results on November 1, 2022, after the market close. A conference call to discuss these results will occur at 5:00 p.m. ET on the same day. Interested parties can access the live webcast through Resideo's Investor Relations section or via a conference call at specified numbers. The company, a leader in home comfort and security solutions, serves millions of homes globally and continues to support over 110,000 professionals through its distributors.

First Alert, part of Resideo Technologies, collaborates with actress Eva Longoria to promote fire safety during the 100th anniversary of Fire Prevention Week in October. This nationwide campaign aims to educate Americans about crucial home safety measures against fire and carbon monoxide threats. Key recommendations include installing smoke alarms in every bedroom and maintaining them regularly. The initiative aligns with the ongoing efforts of fire departments and Lowe's, where events are planned to raise awareness and teach families about effective home safety practices.

Resideo Technologies, Inc. (NYSE: REZI) reported impressive financial results for Q2 2022, achieving net revenue of $1.69 billion, a 14% increase from the previous year. The gross profit margin improved to 27.7%, up 160 basis points, while operating profit rose to $186 million (11% of revenue), compared to $121 million in Q2 2021. Earnings per share also increased to $0.63 from $0.39. The company anticipates full year 2022 revenue between $6.45 billion and $6.65 billion, maintaining a positive outlook amid supply chain challenges.

Resideo Technologies, Inc. (NYSE: REZI) will release its second quarter 2022 financial results on August 4, 2022, post-market hours. A conference call and webcast to discuss these results will take place on the same day at 5:00 p.m. ET. Interested parties can access the call via the Investor Relations section on Resideo’s website or by dialing 888-660-6357 for U.S. callers and 1-929-201-6127 for international callers. Resideo, a global leader in home comfort and security solutions, serves over 150 million homes worldwide.

Resideo Technologies, Inc. (NYSE: REZI) has acquired Electronic Custom Distributors (ECD), a key player in the audio, video, and automation distribution sector based in Houston, Texas. This acquisition enhances Resideo's ADI Global Distribution network and expands its presence in the residential AV and Smart Home markets. With ECD's established branch locations serving the Texas, Oklahoma, Louisiana, and Arkansas regions, Resideo aims to drive growth utilizing ECD's exclusive product lines and comprehensive portfolio. The terms of the transaction remain undisclosed.

Resideo Technologies reported first quarter 2022 financial results, showcasing net revenue of $1.51 billion, a 6% increase from $1.42 billion in Q1 2021. The gross profit margin improved to 28.8%, up 290 basis points year-over-year, while operating profit rose to $172 million (11.4% of revenue) from $130 million (9.2% of revenue). Fully diluted earnings per share reached $0.58, up from $0.33. The company completed the acquisitions of First Alert and Arrow Wire & Cable, enhancing its market position.

Resideo Technologies, Inc. (NYSE: REZI) announced its participation in several upcoming investor conferences. Notable events include the Oppenheimer Virtual Industrial Growth Conference on May 4, 2022, and the KeyBanc Industrials & Basic Materials Conference on June 2, 2022. Additionally, they will attend the Baird Global Consumer, Technology & Services Conference on June 7, 2022, and the Stifel Cross Sector Insight Conference on June 8, 2022. Webcasts of these presentations can be accessed through Resideo's Investor Relations website.

CPower Energy Management has partnered with Resideo Technologies and Google Nest to enhance grid stability through demand response programs. Starting June 1, participants in the Connected Savings program will earn incentives by using Honeywell Home-branded and Google Nest smart thermostats to create virtual power plants that supply energy to PJM Interconnection. CPower, with over 20 years of experience, manages 5.3 GW of Distributed Energy Resources (DERs) nationally, and aims to reward customers while reducing demand on the grid.