Resideo Q3 2021 Earnings Report
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.
Resideo
Resideo
Resideo 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