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Dec 31, 2022
Resideo Q4 2022 Earnings Report
Resideo's revenue increased by 7% year-over-year, but operating income decreased due to restructuring expenses.
Key Takeaways
Resideo Technologies reported a 7% increase in revenue for Q4 2022, reaching $1.56 billion. However, operating income decreased to $98 million compared to $141 million in the prior year, impacted by $35 million in restructuring and impairment expenses. Fully diluted earnings per share also decreased from $0.45 to $0.26.
Net revenue increased by 7% to $1.56 billion compared to Q4 2021.
Gross profit margin remained flat at 27.6% compared to the prior year quarter.
Operating income decreased to $98 million, impacted by $35 million in restructuring expenses.
Fully diluted earnings per share decreased to $0.26 from $0.45 in the same quarter last year.
Revenue by Segment
Forward Guidance
The Company’s current first quarter 2023 and full year 2023 outlook includes Revenue $1,520 - $1,560 and $6,200 - $6,550, Gross Profit Margin 26.3% - 27.3% and 26.8% - 27.8%, Income From Operations $120 - $140 and $625 - $675, Earnings Per Share $0.29 - $0.39 and $1.85 - $2.15.
Positive Outlook
- Revenue between $1,520 - $1,560 for Q1 2023
- Revenue between $6,200 - $6,550 for FY 2023
- Gross Profit Margin between 26.3% - 27.3% for Q1 2023
- Gross Profit Margin between 26.8% - 27.8% for FY 2023
- Earnings Per Share between $0.29 - $0.39 for Q1 2023
Challenges Ahead
- Income From Operations between $120 - $140 for Q1 2023
- Income From Operations between $625 - $675 for FY 2023
- Earnings Per Share between $1.85 - $2.15 for FY 2023
- Uncertainty around the macro-economic environment
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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