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.
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.
Resideo Technologies Inc. (NYSE: REZI) has announced the integration of the Amazon Smart Thermostat into its Connected Savings portfolio. This partnership aims to enhance utility energy efficiency and drive participation in rewards programs. The thermostat, utilizing Honeywell Home technology, supports energy-saving initiatives that reduce carbon emissions and improve grid reliability. Priced at $59.99, it is ENERGY STAR® certified and conveniently links customers to utility rebates.
Resideo Technologies, Inc. (NYSE: REZI) reported a 10% increase in third-quarter revenue, reaching $1.5 billion, with a gross profit margin of 27.8%. Operating profit surged to $167 million, and cash from operations increased to $104 million. However, net income fell to $68 million, or $0.46 per diluted share. For 2021, Resideo revised its revenue outlook to $5.83 billion - $5.88 billion and projected fourth-quarter revenue between $1.44 billion - $1.49 billion, citing supply chain challenges impacting demand fulfillment.
Resideo Technologies (NYSE: REZI) will announce its third quarter 2021 financial results on November 4, 2021, after the market close. A conference call and webcast will follow on the same day at 5:00 p.m. ET. Investors can access the call via the Investor Relations section of Resideo's website. The company, known for its home comfort and security solutions, serves over 150 million homes worldwide with approximately 15 million systems installed annually.
Resideo Technologies (NYSE: REZI) announced the appointment of Dana Huth as executive vice president and chief revenue officer, effective immediately. Huth, with over 30 years of leadership experience, previously served as chief revenue officer for Advanced Energy and president of Artesyn Embedded Power, where he significantly increased annual revenues. Huth's expertise will aid Resideo's strategy for global revenue growth. President and CEO Jay Geldmacher emphasized Huth's ability to develop customer relationships and scale new business units, crucial for Resideo's ongoing market expansion.