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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.
Resideo
Resideo
Resideo Revenue by Segment
Revenue by Segment
Products and Solutions Revenue
CapyFin.comADI Global Distribution Revenue
CapyFin.com 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
- Residential market outlook
Revenue & Expenses
Visualization of income flow from segment revenue to net income