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Dec 31, 2023
Resideo Q4 2023 Earnings Report
Announced strong Q4 2023 results, exceeding the midpoint of outlook with improved order activity and gross margin in Products and Solutions.
Key Takeaways
Resideo Technologies reported Q4 2023 net revenue of $1.54 billion, a slight decrease from $1.56 billion in Q4 2022. GAAP EPS increased to $0.56 from $0.26 year-over-year, and non-GAAP EPS rose to $0.48 from $0.25. The company's operating cash flow was $263 million for the quarter and $440 million for the full year.
Net revenue was $1.54 billion, slightly down from $1.56 billion in Q4 2022.
GAAP EPS increased to $0.56, up from $0.26 in Q4 2022.
Non-GAAP EPS increased to $0.48, up from $0.25 in Q4 2022.
Operating cash flow was $263 million for the quarter and $440 million for the full 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 provided its outlook for Q1 2024 and full year 2024, expecting net revenue between $1.46 billion and $1.51 billion for Q1 and between $6.08 billion and $6.28 billion for the full year. The company expects a non-GAAP Adjusted EBITDA between $120 million - $140 million for Q1 2024 and between $560 million - $640 million for the full year 2024.
Positive Outlook
- Net revenue between $1,460 - $1,510 million for Q1 2024
- Net revenue between $6,080 - $6,280 million for FY 2024
- Non-GAAP Adjusted EBITDA between $120 - $140 million for Q1 2024
- Non-GAAP Adjusted EBITDA between $560 - $640 million for FY 2024
- Non-GAAP Earnings per share between $0.28 - $0.38 for Q1 2024
Revenue & Expenses
Visualization of income flow from segment revenue to net income