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 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.
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.
Resideo Technologies, Inc. (NYSE: REZI) announced that CFO Tony Trunzo will attend the Morgan Stanley Technology, Media & Telecom Conference on March 7, 2022, in San Francisco, CA. The event will include a Fireside Chat at 11:30 a.m. PT, which will be available via live webcast on Resideo's Investor Relations website. Resideo is a global provider of home comfort and security solutions, serving over 150 million homes worldwide and collaborating with more than 110,000 professionals.
Resideo Technologies, Inc. (NYSE: REZI) reported a strong financial performance for the full year 2021, with net revenue of $5.8 billion, up 15% from 2020. The gross profit margin improved to 26.7% and operating profit surged by 80% to $559 million. Fully diluted EPS increased to $1.63 compared to $0.29 in 2020. However, Q4 2021 net revenue fell by 3% to $1.45 billion, marking a slight dip in performance. Looking ahead, Resideo forecasts 2022 revenue between $5.95 billion and $6.20 billion.
Resideo Technologies (NYSE: REZI) has acquired Arrow Wire & Cable, a regional distributor based in Chino, California. This acquisition, announced on February 14, 2022, strengthens Resideo's ADI Global Distribution business, enhancing its portfolio in Data Communications through a range of products and increased geographic reach. Arrow's established operations support Resideo's strategy for growth via tuck-in acquisitions, marking the fourth expansion since 2020. The transaction terms were not disclosed.
Newell Brands Inc. (NASDAQ: NWL) has entered into a definitive agreement to sell its Connected Home & Security (CH&S) business to Resideo Technologies, Inc. (NYSE: REZI) for expected gross proceeds of $593 million. The CH&S business, based in Aurora, Illinois, generated net sales of approximately $395 million in 2021 and is known for brands such as BRK and First Alert. The sale will enable Newell to focus on its core capabilities while using the after-tax proceeds for debt reduction and a $375 million share repurchase program. The transaction is expected to close by the end of Q1 2022.
Resideo Technologies, Inc. (NYSE: REZI) will announce its fourth quarter and full year 2021 financial results on February 15, 2022, after the market closes. Accompanying the release, a conference call will take place at 5:00 p.m. ET the same day, accessible via the company's Investor Relations website. Resideo provides home comfort and security solutions, serving over 150 million homes worldwide and distributing products through more than 110,000 professionals.
Resideo Technologies (NYSE: REZI) hosted its 32nd annual CONNECT event, emphasizing support for security and HVAC professionals. Key innovations include the Pro-IQ™ monitoring service, aimed at enhancing customer relationships with 24/7 insights. The company unveiled new offerings for residential builders, promoting eco-conscious smart home solutions through its BuildSmart™ program. Training initiatives were highlighted through Resideo Academy, aimed at improving professional skills. With a legacy of 130 years, Resideo continues to transform home comfort and security across the globe.