Resideo Technologies Sees Q1 EPS $0.28-$0.38 Vs $0.36 Est.; Revenue $1.46B-$1.51B Vs $1.55B Est.; FY24 EPS $1.48-$1.88 Vs $1.62 Est.; Revenue $6.08B-$6.28B Vs $6.28B Est.
Portfolio Pulse from Benzinga Newsdesk
Resideo Technologies (REZI) provided its Q1 and full year 2024 financial outlook, forecasting Q1 EPS of $0.28-$0.38 and revenue of $1.46B-$1.51B, both below estimates. The full year 2024 EPS is expected to be $1.48-$1.88 with revenue projections of $6.08B-$6.28B, also below estimates. The company anticipates at least $320 million in cash from operating activities for the full year.
February 13, 2024 | 9:36 pm
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NEGATIVE IMPACT
Resideo Technologies forecasts lower-than-expected Q1 and FY24 earnings and revenue but expects strong operating cash flow.
The projected lower-than-expected earnings and revenue for both Q1 and FY24 suggest potential short-term negative impact on REZI's stock price. However, the positive outlook on operating cash flow might mitigate some concerns, indicating the company's ability to generate cash despite revenue and earnings challenges.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100