Earnings ·
Reports Q3 revenue of $727M and updates full-year outlook after repaying $1.1B in debt
REZIResideo Technologies, Inc.
Resideo Technologies reported third-quarter revenue of $727 million, a 3% increase year-over-year, with standalone adjusted EBITDA rising 5% to $154 million. GAAP diluted EPS from continuing operations fell 71% to $0.14 due to separation costs and lower income. The company repaid $1.1 billion of gross debt using proceeds from the ADI spin-off and cash on hand, reducing total gross debt to $2.1 billion. Management updated its full-year outlook, projecting revenue between $2.93 billion and $2.95 billion and standalone adjusted EPS between $1.92 and $1.98. Resideo is a global building technologies company that develops and manufactures critical control and sensing solutions for residential markets.