NYSE$REZI
Resideo Technologies Inc · Q2 2021 earnings
Q2 2021 earnings · · Investor relations
Briefing
Resideo's Q2 2021 performance was marked by strong revenue growth and improved profitability.
Resideo Technologies reported a strong second quarter in 2021, with a 44% increase in revenue compared to the previous year. The company saw significant improvements in operating profit and gross profit margin, driven by strong demand and productivity improvements.
- Net revenue increased by 44% to $1.5 billion compared to Q2 2020.
- Gross profit margin improved to 25.8%, a 290 basis point increase year-over-year.
- Operating profit was $121 million, a significant increase from the $6 million operating loss in Q2 2020.
- Net income was $58 million, or $0.39 per diluted common share, compared to a net loss of $76 million in Q2 2020.
Headline financials
Revenue & EPS history
Resideo · Revenue · Quarterly
$1.48B
Revenue by segment
Resideo · $1.48B total across 2 segments · Q2 2021
- ADI Global Distribution$879M+39.3%59.5%
- Products and Solutions$598M+50.3%40.5%
Forward guidance
Resideo updated its outlook for 2021, expecting full year revenue in the range of $5.85 billion to $5.95 billion, gross profit margin between 26% and 28%, and operating profit ranging from $535 million to $565 million. For the third quarter of 2021, the company anticipates revenue between $1.50 billion and $1.55 billion, gross profit margin from 26.5% to 28.5%, and operating profit in the range of $140 million to $150 million.
Tailwinds
- Full year revenue expected to be in the range of $5.85 billion to $5.95 billion.
- Gross profit margin for the full year is projected to be between 26% and 28%.
- Operating profit for the full year is expected to be in the range of $535 million to $565 million.
- Third quarter revenue is anticipated to be between $1.50 billion and $1.55 billion.
- Third quarter gross profit margin is projected to be between 26.5% and 28.5%.
Headwinds
- Challenging global logistics and supply chain environments are expected to continue.
- The COVID-19 pandemic may continue to cause disruptions to the business and global economy.
- Potential risks associated with agreements with Honeywell.
- The company's transformation programs and initiatives may not continue to succeed.
- Pending securities class action litigation settlement may face challenges in becoming effective.
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 19 quarterly earnings reports · overlaid with Q2 2021
+2.6%
Avg return
Earnings day
+1.5%
Avg return
5 days after
+3.8%
Avg return
30 days after
62%
23 / 37 earnings
Positive
+63.4%
Q3 2020
Best reaction
-33.0%
Q3 2022
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q1 2026 | -2.7% | -24.5% | -17.0% | |
| Q4 2025 | +14.9% | +7.2% | -6.7% | |
| Q3 2025 | -1.0% | +1.6% | +8.0% | |
| Q1 2025 | +8.8% | +21.0% | +21.1% | |
| Q4 2024 | -9.2% | -10.8% | -16.6% | |
| Q3 2024 | +9.6% | +14.0% | +24.5% | |
| Q2 2024 | -0.4% | -2.0% | -3.0% | |
| Q1 2024 | +6.2% | +8.0% | +12.0% | |
| Q4 2023 | +18.4% | +24.8% | +27.1% | |
| Q3 2023 | +7.3% | +11.2% | +16.1% | |
| Q2 2023 | -16.8% | -14.4% | -6.9% | |
| Q1 2023 | -7.1% | -5.5% | -1.8% | |
| Q4 2022 | +2.4% | +3.8% | -11.8% | |
| Q3 2022 | -33.0% | -31.9% | -32.6% | |
| Q2 2022 | +0.4% | -2.4% | -8.1% | |
| Q1 2022 | +11.5% | +4.9% | +3.0% | |
| Q4 2021 | +9.8% | +3.7% | +8.7% | |
| Q3 2021 | -3.3% | -0.6% | -3.0% | |
| Q2 2021 | +4.6% | +0.0% | +4.6% | |
| Q1 2021 | +2.4% | -4.4% | +7.5% | |
| Q4 2020 | -17.1% | -10.9% | +1.7% | |
| Q3 2020 | +63.4% | +62.9% | +76.1% | |
| Q2 2020 | +19.9% | +19.4% | +19.0% | |
| Q1 2020 | +9.1% | +21.1% | +89.9% | |
| Q4 2019 | +15.5% | +14.6% | -39.1% | |
| Q3 2019 | -6.8% | -14.0% | +2.5% | |
| Q2 2019 | -1.4% | -10.0% | -17.3% | |
| Q1 2018 | -1.0% | -1.7% | -11.2% | |
| Q1 2019 | -1.0% | -1.7% | -11.2% | |
| Q2 2017 | +2.9% | -1.2% | +3.5% | |
| Q1 2017 | +2.9% | -1.2% | +3.5% | |
| Q4 2016 | +2.9% | -1.2% | +3.5% | |
| Q2 2018 | +2.9% | -1.2% | +3.5% | |
| Q4 2018 | -20.1% | -17.9% | -19.2% | |
| Q3 2017 | +0.6% | -1.6% | +3.5% | |
| Q3 2018 | +0.6% | -1.6% | +3.5% | |
| Q4 2017 | +0.6% | -1.6% | +3.5% |
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