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Dec 31, 2020
Resideo Q4 2020 Earnings Report
Resideo's Q4 2020 performance was marked by increased revenue and profitability compared to the prior year.
Key Takeaways
Resideo Technologies, Inc. reported a strong fourth quarter with a 15% increase in net revenue to $1.5 billion and a significant rise in operating profit to $152 million. Net income also improved to $59 million, and adjusted EBITDA reached $212 million.
Net revenue increased by 15% year-over-year to $1.5 billion.
Operating profit more than doubled, reaching $152 million compared to $72 million in the prior year.
Net income turned positive at $59 million, a significant improvement from the prior year's net loss of $9 million.
Adjusted EBITDA increased to $212 million, up from $139 million in the prior year.
Resideo
Resideo
Resideo Revenue by Segment
Forward Guidance
The company provided its outlook for full year and first quarter 2021.
Positive Outlook
- Full year 2021 revenue is expected to be in the range of $5.2 billion to $5.4 billion.
- Full year 2021 gross profit margin is expected to be in the range of 26% to 28%.
- Full year 2021 operating profit is expected to be in the range of $450 million to $500 million.
- First quarter 2021 revenue is expected to be in the range of $1.30 billion to $1.35 billion.
- First quarter 2021 gross profit margin is expected to be in the range of 25% to 27%.
Revenue & Expenses
Visualization of income flow from segment revenue to net income