Resideo Technologies (NYSE:REZI) Posts Earnings Results, Beats Estimates By $0.12 EPS

Key Points

• Resideo Technologies reported quarterly earnings of $0.56 per share, beating analysts' estimates by $0.02.
• The company's stock rose 2.3% during mid-day trading, reaching a price of $26.34.
• Insider Robert B. Aarnes sold 47,000 shares, a transaction valued at $1.316 million, representing an 8.53% decrease in their position.

Resideo Technologies (NYSE:REZI - Get Free Report) issued its earnings results on Tuesday. The company reported $0.66 EPS for the quarter, topping the consensus estimate of $0.54 by $0.12, Briefing.com reports. Resideo Technologies had a negative net margin of 10.52% and a positive return on equity of 11.76%. The company had revenue of $1.94 billion for the quarter, compared to the consensus estimate of $1.83 billion. During the same period in the previous year, the firm earned $0.62 earnings per share. The firm's revenue for the quarter was up 22.3% on a year-over-year basis. Resideo Technologies updated its FY 2025 guidance to 2.750-2.870 EPS and its Q3 2025 guidance to 0.700-0.760 EPS.

Resideo Technologies Trading Down 7.0%

Shares of NYSE:REZI traded down $1.98 during trading hours on Thursday, hitting $26.56. 911,432 shares of the company's stock traded hands, compared to its average volume of 1,122,689. The business has a fifty day moving average price of $23.10 and a 200-day moving average price of $20.43. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.94 and a quick ratio of 1.16. The firm has a market capitalization of $3.94 billion, a P/E ratio of -4.87 and a beta of 2.16. Resideo Technologies has a 1 year low of $14.18 and a 1 year high of $29.40.

Insider Activity

In other news, insider Robert B. Aarnes sold 47,000 shares of the firm's stock in a transaction dated Wednesday, July 30th. The stock was sold at an average price of $28.00, for a total transaction of $1,316,000.00. Following the sale, the insider directly owned 503,692 shares in the company, valued at $14,103,376. This trade represents a 8.53% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, major shareholder Channel Holdings Ii L.P. Cd&R bought 4,477,919 shares of the stock in a transaction on Friday, July 25th. The shares were acquired at an average cost of $22.33 per share, for a total transaction of $99,991,931.27. Following the purchase, the insider owned 10,232,420 shares in the company, valued at $228,489,938.60. The trade was a 77.82% increase in their ownership of the stock. The disclosure for this purchase can be found here. Company insiders own 1.50% of the company's stock.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the business. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its stake in Resideo Technologies by 6.4% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 439,149 shares of the company's stock valued at $7,773,000 after purchasing an additional 26,254 shares in the last quarter. Millennium Management LLC increased its holdings in shares of Resideo Technologies by 1,123.6% in the first quarter. Millennium Management LLC now owns 263,821 shares of the company's stock valued at $4,670,000 after purchasing an additional 242,260 shares during the last quarter. Jane Street Group LLC boosted its stake in Resideo Technologies by 37.1% in the 1st quarter. Jane Street Group LLC now owns 169,033 shares of the company's stock valued at $2,992,000 after purchasing an additional 45,779 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in Resideo Technologies by 7.8% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 126,161 shares of the company's stock worth $2,233,000 after buying an additional 9,106 shares in the last quarter. Finally, AQR Capital Management LLC raised its position in Resideo Technologies by 58.9% during the first quarter. AQR Capital Management LLC now owns 122,734 shares of the company's stock valued at $2,172,000 after purchasing an additional 45,517 shares in the last quarter. Institutional investors and hedge funds own 91.71% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on REZI shares. JPMorgan Chase & Co. increased their target price on Resideo Technologies from $20.00 to $21.00 and gave the company a "neutral" rating in a research report on Tuesday, June 3rd. Oppenheimer upgraded Resideo Technologies from a "market perform" rating to an "outperform" rating in a research note on Wednesday, July 30th.

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.