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Jun 30, 2020
Resideo Q2 2020 Earnings Report
Resideo's financial performance declined due to COVID-19 impacts and production delays.
Key Takeaways
Resideo Technologies reported a 17% decrease in net revenue to $1.0 billion for the second quarter of 2020, compared to $1.2 billion in the prior year. The company experienced a GAAP net loss of $76 million, a significant decrease from the $11 million net loss in the second quarter of 2019. Adjusted EBITDA also decreased by 48% to $63 million.
Net revenue decreased by 17% year-over-year to $1.0 billion.
GAAP net loss was $76 million, compared to a net loss of $11 million in the prior year.
Adjusted EBITDA decreased by 48% year-over-year to $63 million.
Gross profit percentage declined to 23% from 26% in the prior year.
Revenue by Segment
Forward Guidance
Resideo expects to realize net benefits of approximately $30 million to $40 million in 2020, the majority of which will be realized in the second half of 2020.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
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