Resideo Technologies (NYSE:REZI) Releases Q2 Earnings Guidance

Resideo Technologies (NYSE:REZI) updated its second quarter earnings guidance on Thursday. The company provided earnings per share guidance of $0.43-$0.53 for the period, compared to the consensus earnings per share estimate of $0.42. The company issued revenue guidance of $1.51-$1.56 billion, compared to the consensus revenue estimate of $1.58 billion. Resideo Technologies also updated its FY24 guidance to $1.90-$2.30 EPS.

Resideo Technologies Stock Up 3.9 %

REZI stock traded up $0.76 during trading on Friday, hitting $20.49. 1,152,301 shares of the company’s stock traded hands, compared to its average volume of 783,672. The firm has a market capitalization of $2.99 billion, a P/E ratio of 15.41 and a beta of 2.13. Resideo Technologies has a 1 year low of $14.19 and a 1 year high of $23.21. The company has a quick ratio of 1.18, a current ratio of 1.80 and a debt-to-equity ratio of 0.51. The business has a fifty day simple moving average of $21.51 and a two-hundred day simple moving average of $18.77.

Resideo Technologies (NYSE:REZI) last announced its earnings results on Thursday, May 2nd. The company reported $0.47 EPS for the quarter, topping analysts’ consensus estimates of $0.33 by $0.14. Resideo Technologies had a net margin of 3.17% and a return on equity of 9.33%. The business had revenue of $1.49 billion during the quarter, compared to the consensus estimate of $1.48 billion. During the same period in the previous year, the company posted $0.39 earnings per share. The firm’s revenue was down 4.1% on a year-over-year basis. Sell-side analysts anticipate that Resideo Technologies will post 2.1 EPS for the current year.

Wall Street Analysts Forecast Growth

Separately, TheStreet raised shares of Resideo Technologies from a c+ rating to a b- rating in a report on Wednesday, February 28th.

Resideo Technologies Company Profile

Resideo Technologies, Inc develops, manufactures, and sells comfort, energy management, and safety and security solutions to the commercial and residential end markets in the United States, Europe, and internationally. The company operates in two segments, Products and Solutions, and ADI Global Distribution.