Resideo Technologies (NYSE:REZI) Updates Q2 2024 Earnings Guidance

Resideo Technologies (NYSE:REZI) updated its second quarter 2024 earnings guidance on Friday. The company provided EPS guidance of 0.430-0.530 for the period, compared to the consensus EPS estimate of 0.420. The company issued revenue guidance of $1.5 billion-$1.6 billion, compared to the consensus revenue estimate of $1.6 billion. Resideo Technologies also updated its FY 2024 guidance to 1.900-2.300 EPS.

Resideo Technologies Stock Performance

Shares of REZI traded up $0.25 during mid-day trading on Monday, hitting $20.74. 292,732 shares of the company traded hands, compared to its average volume of 927,503. Resideo Technologies has a 1 year low of $14.19 and a 1 year high of $23.21. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.26 and a current ratio of 1.93. The stock has a 50-day moving average price of $21.51 and a two-hundred day moving average price of $18.77. The stock has a market cap of $3.03 billion, a price-to-earnings ratio of 15.41 and a beta of 2.13.

Resideo Technologies (NYSE:REZI) last released its quarterly earnings results on Thursday, May 2nd. The company reported $0.47 earnings per share for the quarter, beating the consensus estimate of $0.33 by $0.14. Resideo Technologies had a return on equity of 9.26% and a net margin of 3.17%. The firm had revenue of $1.49 billion for the quarter, compared to analysts’ expectations of $1.48 billion. During the same period in the prior year, the firm earned $0.39 EPS. The company’s revenue was down 4.1% compared to the same quarter last year. Equities analysts anticipate that Resideo Technologies will post 2.1 earnings per share for the current year.

Wall Street Analyst Weigh In

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

About Resideo Technologies

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.