Resideo Q1 revenue up 3% to $1.55B but EPS falls to $0.38 from $0.58; adj. EBITDA margin shrinks

RESIDEO TECHNOLOGIES, INC.

2023-Q1 EPS reported $0.38 revenue$1,549,000,000

Net income of $57M vs $87M YoY; GAAP diluted EPS $0.38 vs $0.58; non-GAAP EPS $0.39 vs $0.63.
Products & Solutions revenue $658M (+6%) but operating profit down 24% to $117M; gross margin fell 530bps.
ADI revenue flat at $891M; operating profit down 10% to $72M; e-commerce grew 17%.
Consolidated gross margin down 200bps to 27.1%; operating profit $138M vs $172M YoY.
Q2 2023 outlook: revenue $1.59B-$1.64B, EPS $0.41-$0.51; FY 2023 revenue $6.2B-$6.55B, EPS $1.80-$2.00.

item 2.02 item 9.01

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 0.95

RESIDEO TECHNOLOGIES, INC. reported first quarter ended April 1, 2023 results: revenue $1.55 billion, net income $57 million, EPS $0.38 per diluted common share. Guidance reaffirmed.

Period: first quarter ended April 1, 2023
Revenue: $1.55 billion
Net income: $57 million
EPS: $0.38 per diluted common share
Guidance: reaffirmed
Result: reported results

Exact text from the filing

data com, and other product categories, today announced financial results for the first quarter ended April 1, 2023 . First Quarter 2023 Financial Highlights • Net revenue of $1.55 billion, up 3% from $1.51 billion in the first quarter 2022 • Income from operations of $138 million, or 8.9% of revenue, compared to $172 million, or 11.4% of revenue in the first

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Source: SEC EDGAR

accession 0001740332-23-000013

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