Resideo Technologies Stock Price, News & Analysis

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.

Resideo Technologies, Inc. (NYSE: REZI) reported strong financial results for Q4 2020, with net revenue of $1.5 billion, a 15% year-over-year increase. Operating profit surged to $152 million from $72 million, and net income reached $59 million, recovering from a $9 million loss in the prior year. For FY 2020, revenue was $5.1 billion, up 2%, while operating profit improved to $311 million. The company anticipates 2021 revenue between $5.2 billion and $5.4 billion, with a gross profit margin of 26% to 28%. Management highlighted robust demand in residential markets and ongoing transformation initiatives.

Resideo Technologies (NYSE: REZI) will conduct a virtual Investor Day on March 11, 2021, at 10:00 a.m. Eastern Time. Senior management will present the company's strategies and financial updates, followed by a Q&A session. Investors can access a live webcast on the Resideo investor relations website, with replays available post-event. Resideo, a leader in technology-driven solutions, supports over 150 million homes globally and serves 110,000 professionals via distribution networks.

Resideo Technologies (NYSE: REZI) announced the successful refinancing of its senior secured term loans, securing a new $950 million term loan B maturing in 2028 with an interest rate of LIBOR + 225 basis points. Additionally, the company established a $500 million revolving credit facility maturing in 2026. The refinancing led to an upgrade in corporate credit rating by Moody's to 'Ba3', while S&P affirmed its 'BB' rating with a stable outlook. Furthermore, Resideo redeemed $140 million of its senior unsecured notes, enhancing financial flexibility and improving its credit profile.

Resideo Technologies, Inc. (NYSE: REZI) is set to announce its fourth quarter and full year 2020 financial results on February 25, 2021, before the NYSE opens. A conference call for investors will take place the same day at 8:30 a.m. EST, with a live audio webcast available on their investor website. Resideo is known for manufacturing technology-driven products aimed at comfort, security, and energy efficiency, serving millions of homes globally.

Resideo Technologies (NYSE: REZI) has initiated a refinancing of its senior secured credit facilities to enhance financial flexibility and extend debt maturities. The refinancing includes a new 7-year term loan B, a proposed $500 million revolving credit facility, and the redemption of $140 million in senior unsecured notes. Additionally, preliminary Q4 2020 results indicate a net revenue of approximately $1.50 billion, a 15% increase from Q4 2019, along with an operating profit of around $152 million.

Resideo Technologies, Inc. (NYSE: REZI) announced the appointment of Travis Merrill as Executive Vice President and Chief Strategy Officer, effective Dec. 21, 2020. Merrill, with over 20 years of experience in strategy and marketing, will oversee Resideo's corporate and brand strategy, external communications, and partnerships. President and CEO Jay Geldmacher highlighted Merrill's proven expertise in driving growth. Resideo serves over 150 million homes globally, offering significant opportunities for future expansion.

Resideo Technologies has priced an underwritten public offering of 17 million shares at $15.00 per share, set to close on November 20, 2020. The net proceeds will primarily be used to repay borrowings under its revolving credit facility and to fund growth investments and potential acquisitions. Morgan Stanley and Evercore ISI are leading the offering, with additional support from BofA Securities and J.P. Morgan. The underwriters also have the option to purchase an additional 2.55 million shares, enhancing overall capital structure.