NYSE$REZI
Resideo Technologies Inc · Q3 2024 earnings
Q3 2024 earnings · · Investor relations
Briefing
Reported strong Q3 2024 results with organic sales growth and Adjusted EBITDA exceeding outlook, driven by Products and Solutions and ADI performance.
Resideo Technologies reported strong third-quarter results with net revenue of $1.83 billion, up 18% year-over-year. Adjusted EBITDA was $190 million, exceeding the high end of the outlook range. The company saw organic sales growth in both Products and Solutions and ADI, with Products and Solutions gross margin improving to 42.2%.
- Net revenue increased by 18% year-over-year.
- Products and Solutions achieved a gross margin of 42.2%, marking the sixth consecutive quarter of improvement.
- Adjusted EBITDA reached $190 million, surpassing the high end of the outlook range.
- Strong demand was observed for the Honeywell Home Focus Pro thermostat portfolio.
Headline financials
Revenue & EPS history
Resideo · Revenue · Quarterly
$1.83B
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 provided its outlook for the fourth quarter of 2024, expecting net revenue between $1.815 billion and $1.855 billion, Non-GAAP Adjusted EBITDA between $170 million and $185 million, and Non-GAAP Adjusted Earnings per share between $0.51 and $0.61. For the full year 2024, the company expects net revenue between $6.720 billion and $6.760 billion, Non-GAAP Adjusted EBITDA between $672 million and $687 million, and Non-GAAP Adjusted Earnings per share between $2.18 and $2.28. Full Year Cash Provided by Operating Activities At least $375
Tailwinds
- Net revenue is projected to be between $1.815B - $1.855B
- Non-GAAP Adjusted EBITDA is expected to be between $170M - $185M
- Non-GAAP Adjusted Earnings per share are forecasted to be $0.51 - $0.61
- Full year net revenue is projected to be between $6.720B - $6.760B
- Full year Non-GAAP Adjusted EBITDA is expected to be between $672M - $687M
Headwinds
- The company did not explicitly state any negatives in their forward guidance
- The company did not explicitly state any negatives in their forward guidance
- The company did not explicitly state any negatives in their forward guidance
- The company did not explicitly state any negatives in their forward guidance
- The company did not explicitly state any negatives in their forward guidance
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 Q3 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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