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), a leading global provider of home comfort, life safety and security solutions, has announced it will release its second quarter 2024 financial results on August 8, 2024, after the New York Stock Exchange closes. 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, where related materials will be posted before the call. For those unable to attend, a replay will be available. Alternatively, participants can dial in using the provided toll-free and international numbers, quoting the conference title or ID.
Resideo Technologies (NYSE: REZI) announced an increase in its private offering of 6.500% Senior Notes due 2032, raising the aggregate principal amount to $600 million, an upsize of $100 million from its initial plan. The Notes are priced at 100% of their principal amount and are guaranteed by Resideo and its subsidiaries. The proceeds will repay part of the company's senior secured Term B loans maturing in February 2028. The offering is expected to close on July 17, 2024, subject to standard closing conditions. The Notes will be available to qualified institutional buyers under Rule 144A and to non-U.S. investors under Regulation S.
Resideo Technologies (NYSE: REZI) has announced a private offering of $500 million in Senior Notes due 2032 through its subsidiary, Resideo Funding. These notes will be fully guaranteed by Resideo and its subsidiaries. The proceeds will be used to repay part of the outstanding senior secured Term B loans maturing in 2028. The offering targets qualified institutional buyers and non-U.S. investors under Rule 144A and Regulation S of the Securities Act of 1933. The securities won't be registered under the Securities Act or state laws and can't be sold unless exempt from registration requirements.
Resideo Technologies has completed its acquisition of Snap One for $1.4 billion, aiming to enhance its presence in the smart living market. The integration of Snap One into Resideo's ADI Global Distribution segment is expected to expand product offerings and digital capabilities. The acquisition is anticipated to be accretive to Resideo's non-GAAP Adjusted EPS in 2025, with expected synergies of $75 million by 2027. Additionally, investment funds managed by Clayton, Dubilier & Rice completed a $500 million convertible preferred stock investment in Resideo. As part of the transaction, Nate Sleeper and John Stroup from CD&R have joined Resideo's Board of Directors.
Resideo Technologies, Inc. (NYSE: REZI) will participate in upcoming investor conferences to showcase their technology-driven products and solutions for homes and businesses. The senior management will present at the Oppenheimer 19th Annual Industrial Growth Conference on May 7, 2024, and at the Baird Global Consumer, Technology & Services Conference on June 6, 2024.
Resideo Technologies, Inc. announced first quarter 2024 financial results with net revenue of $1.49 billion, down 4% YoY. Adjusted EBITDA was $137 million, surpassing outlook. The company continues its business transformation with new product launches and the acquisition of Snap One. Gross margin improved to 39.5% in Products and Solutions. Resideo aims to enhance exclusive brand sales and digital capabilities.
Resideo Technologies (NYSE: REZI) and Baltimore Gas and Electric (BGE) have announced a partnership to expand BGE's Connected Rewards program in Maryland, aiming to balance the grid during peak demand periods and provide energy savings to customers. The program allows customers to reduce overall electricity demand during peak times, receiving financial incentives for enrolling their smart thermostats. Resideo's expertise in energy management and grid reliability will help BGE in maintaining grid stability and achieving cost savings for customers.
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