RESIDEO TECHNOLOGIES Reports Q2 Earnings for FY2023
August 8, 2023
🌥️Earnings Overview
RESIDEO TECHNOLOGIES ($NYSE:REZI) reported its second quarter FY2023 earnings results, which concluded on June 30 2023. Total revenue was USD 1602.0 million, a 5.0% decrease from the same quarter of the previous year. Additionally, net income shrank 46.8% year over year and amounted to USD 50.0 million.
Market Price
On Thursday, RESIDEO TECHNOLOGIES reported their Q2 earnings for FY2023. The stock opened at $18.3 and closed at $18.0, down by 2.2% from the previous closing price of 18.4. Despite this, the market reacted negatively to the news that the company’s second quarter earnings weren’t as positive as they were expecting. The drop in RESIDEO TECHNOLOGIES’ stock value may be due to investors’ concerns about the company’s future prospects. Despite the challenging business environment, RESIDEO TECHNOLOGIES has remained committed to its strategy of expanding its presence in new markets and introducing innovative products and services.
However, the challenge now is to ensure that these new products and services are profitable and can sustain their growth in the future. It remains to be seen how the company will be able to compete in the highly competitive market and achieve sustained growth and profitability in the coming quarters. Live Quote…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for Resideo Technologies. More…
| Total Revenues | Net Income | Net Margin |
| 6.33k | 209 | 3.8% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for Resideo Technologies. More…
| Operations | Investing | Financing |
| 293 | -149 | -31 |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for Resideo Technologies. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 6.54k | 3.86k | 18.13 |
Key Ratios Snapshot
Some of the financial key ratios for Resideo Technologies are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| 10.1% | 54.2% | 6.5% |
| FCF Margin | ROE | ROA |
| 2.9% | 9.7% | 3.9% |
Analysis
At GoodWhale, we have conducted an analysis of RESIDEO TECHNOLOGIES‘s wellbeing. According to our Star Chart, the company is strong in asset, growth, and profitability, and weak in dividend. Considering investors interested in such a company, RESIDEO TECHNOLOGIES has a high health score of 7/10. This indicates that the company is capable of safely riding out any crisis without the risk of bankruptcy due to its strong cashflow and debt management. Therefore, investors who are looking for a relatively safe option with moderate growth potential would find RESIDEO TECHNOLOGIES to be an attractive option. More…
Peers
George Risk Industries Inc, Oermester Vagyonvedelmi NyRt, and Aedge Group Ltd are all major competitors in the security industry. All four companies offer a wide range of products and services that cater to the needs of both residential and commercial customers.
– George Risk Industries Inc ($OTCPK:RSKIA)
Founded in 1954, George Risk Industries, Inc. is a leading designer and manufacturer of electronic components and assemblies, primarily for the automotive industry. The company’s products are used in a variety of applications, including electronic ignition, engine management, anti-theft, and security systems. George Risk Industries is a publicly traded company with a market capitalization of 49.31M as of 2022. The company has a strong history of profitability, with a return on equity of 7.05%. George Risk Industries is headquartered in Omaha, Nebraska, and has manufacturing facilities in the United States, Mexico, and China.
– Oermester Vagyonvedelmi NyRt ($LTS:0P31)
Oermester Vagyonvedelmi NyRt is a Hungarian company that provides security services. The company has a market cap of 2.55M as of 2022 and a Return on Equity of 15.67%. The company offers a range of security services, including armed security, event security, and VIP protection.
– Aedge Group Ltd ($SGX:XVG)
Aedge Group Ltd is a holding company that operates through its subsidiaries. The company’s businesses include investment holding, property development, and provision of management services. The company has a market cap of 28.09M as of 2022 and a return on equity of -6.22%. The company’s businesses are mainly based in Singapore and China.
Summary
Investors interested in RESIDEO TECHNOLOGIES should take note of the company’s second quarter of FY2023 earnings results. Total revenue was USD 1602.0 million, a 5.0% decline year over year. Net income decreased by 46.8%, falling to USD 50.0 million from the same period of the previous year.
Despite these declines, RESIDEO TECHNOLOGIES’ performance remains impressive compared to other companies’ results for the same period. Thus, investors should continue to monitor the company’s financial reports for future performance.
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