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Oct 02, 2021
Resideo Q3 2021 Earnings Report
Resideo reported strong growth and profitability expansion driven by business transformation execution.
Key Takeaways
Resideo Technologies, Inc. announced its third quarter 2021 financial results, with net revenue of $1.5 billion, a 10% increase compared to the third quarter of 2020. The company's operating profit increased by $36 million to $167 million, and the gross profit margin rose to 27.8%.
Net revenue reached $1.5 billion, a 10% increase year-over-year.
Gross profit margin improved to 27.8%, up 60 basis points from the prior year.
Operating profit was $167 million, representing 11.2% of revenue, a $36 million increase from the previous year.
Cash provided by operating activities totaled $104 million, compared to $21 million in the prior year.
Revenue by Segment
Forward Guidance
The company updated its outlook for 2021, expecting full year revenue to be in the range of $5.83 billion to $5.88 billion, gross profit margin in the range of 26.5% to 27.0% and operating profit in the range of $558 million to $568 million. The company expects fourth quarter 2021 revenue to be in the range of $1.44 billion to $1.49 billion, gross profit margin in the range of 27% to 28% and operating profit in the range of $140 million to $150 million.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
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Avg. Return Before/After Earnings
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