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.
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.
Resideo Technologies (NYSE: REZI) will announce its first quarter 2022 financial results on May 3, 2022, after market close. A conference call is scheduled for the same day at 5:00 p.m. ET to discuss the results. Investors can join the call by dialing 888-660-6357 (U.S.) or 1-929-201-6127 (International) using the conference ID: 7301399. Resideo provides home comfort and security solutions, reaching over 150 million homes globally. Its products are distributed to more than 110,000 professionals worldwide.
Newell Brands Inc. (NASDAQ: NWL) has announced the completion of the sale of its Connected Home & Security business to Resideo Technologies, Inc. (NYSE: REZI) for a total of $593 million. This transaction is subject to standard working capital and transaction adjustments. The CH&S business, located in Aurora, Illinois, specializes in home safety products under well-known brands like BRK and First Alert.
Resideo Technologies (NYSE: REZI) has successfully acquired First Alert, Inc. from Newell Brands Inc. (Nasdaq: NWL), enhancing its portfolio in the home safety sector. This acquisition aligns with Resideo's strategy to provide comprehensive home comfort and security solutions. First Alert is known for its extensive range of safety products, including smoke alarms and carbon monoxide detectors, marketed under well-established brands. This strategic move supports Resideo's aim to extend its market reach and reinforce its position as a leader in home safety solutions.