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.
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.
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.
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, 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.