NYSE$REZI
Resideo Technologies Inc · Q2 2024 earnings
Q2 2024 earnings · · Investor relations
Briefing
Resideo's Q2 2024 financial performance reflected progress in business transformation and profitability, exceeding adjusted EBITDA outlook.
Resideo Technologies reported second-quarter net revenue of $1.59 billion, a 1% decrease compared to the prior year. Net income was $30 million, with an adjusted EBITDA of $175 million, which was above the high end of the outlook range. The company saw improvements in Products and Solutions gross margin and made progress in ADI's strategic initiatives.
- Net revenue was $1.59 billion, down 1% year-over-year.
- Net income reached $30 million, compared to $50 million in Q2 2023.
- Adjusted EBITDA was $175 million, exceeding the outlook range.
- Products and Solutions gross margin was 41.3%, marking the fifth consecutive quarter of improvement.
Headline financials
Revenue & EPS history
Resideo · Revenue · Quarterly
$1.59B
Revenue by segment
Resideo · $1.55B total across 2 segments · Q3 2023
- ADI Global Distribution$900M-1.2%57.9%
- Products and Solutions$654M-7.5%42.1%
Forward guidance
The Company’s current third quarter 2024 and full year 2024 outlook is: Net revenue Q3 2024 $1,790 - $1,830, 2024 $6,680 - $6,760; Non-GAAP Adjusted EBITDA Q3 2024 $170 - $180, 2024 $655 - $695; Non-GAAP Adjusted Earnings per share Q3 2024 $0.49 - $0.59, 2024 $2.15 - $2.35; Full Year Cash Provided by Operating Activities At least $375
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 2024
+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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