Resideo Technologies Inc (REZI) said after close Tuesday that it earned $0.48 per share in quarter four 2023. The company reported earnings on an adjusted basis, so it may not be directly comparable to analyst estimates or prior periods.
On the revenue line, the company reported $1.5 billion, beating estimates by $17 million.
In the same quarter a year ago, the company earned $0.26 per share on revenue of $1.6 billion.
The stock is up 22.01% to $20.84 after the report.
The firm's lower revenue growth to earnings signals that the firm has been able to reduce costs and improve its profit margin overall.
The average recommendation from Wall Street analysts was a Buy which may get revised based on this new data.
InvestorsObserver gives the stock a Bearish Sentiment score at the moment based on recent trading.
Resideo Technologies Inc has performed a little above average during the past few months. Before the report, Resideo Technologies Inc received a Long-Term Technical Rank by InvestorsObserver of 56, putting it in the top half of stocks. The firm set a 52-week low on October 27, 2023 at $14.2 and set a 52-week high on February 16, 2023 at $20.16.
Resideo Technologies Inc is a provider of critical comfort and security solutions in residential environments. The company has two reportable segments namely Products and Solutions is a provider of residential security and intrusion products, consumer thermostats, consumer HVAC and consumer awareness systems, residential thermal solutions and residential water controls that allow owners of homes to stay connected and in control of their comfort, security, and energy use. Its ADI Global Distribution segment is a distributor of security and low voltage fire protection products. Geographically, it derives maximum revenue from the United States and also has a presence in Europe and other countries.
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Resideo Technologies Inc Up 22.01% To $20.84 After Earnings Beat
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