secwatch.observer — SEC 8-K summary
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Issuer:     RESIDEO TECHNOLOGIES, INC. (REZI)
CIK:        0001740332
Form:       8-K
Filed at:   2023-05-03T23:59:59+00:00
Accession:  0001740332-23-000013
Event type: earnings
Sentiment:  negative
Materiality: 0.75
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1740332/000174033223000013/0001740332-23-000013-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1740332/000174033223000013/rezi-20230503.htm
  HTML page:      https://secwatch.observer/filing/0001740332-23-000013

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