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Jun 29, 2024
Resideo Q2 2024 Earnings Report
Resideo's Q2 2024 financial performance reflected progress in business transformation and profitability, exceeding adjusted EBITDA outlook.
Key Takeaways
Resideo Technologies reported second-quarter net revenue of $1.59 billion, a 1% decrease compared to the prior year. Net income was $30 million, with an adjusted EBITDA of $175 million, which was above the high end of the outlook range. The company saw improvements in Products and Solutions gross margin and made progress in ADI's strategic initiatives.
Net revenue was $1.59 billion, down 1% year-over-year.
Net income reached $30 million, compared to $50 million in Q2 2023.
Adjusted EBITDA was $175 million, exceeding the outlook range.
Products and Solutions gross margin was 41.3%, marking the fifth consecutive quarter of improvement.
Revenue by Segment
Forward Guidance
The Company’s current third quarter 2024 and full year 2024 outlook is: Net revenue Q3 2024 $1,790 - $1,830, 2024 $6,680 - $6,760; Non-GAAP Adjusted EBITDA Q3 2024 $170 - $180, 2024 $655 - $695; Non-GAAP Adjusted Earnings per share Q3 2024 $0.49 - $0.59, 2024 $2.15 - $2.35; Full Year Cash Provided by Operating Activities At least $375
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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