Resideo Announces First Quarter 2024 Financial Results
SCOTTSDALE, Ariz., May 2, 2024 /PRNewswire/ -- Resideo Technologies, Inc. (NYSE: REZI), a leading global manufacturer and distributor of technology-driven products and solutions for homes and businesses, today announced financial results for the first quarter ended March 30, 2024.
- Resideo management believes the use of such non-GAAP financial measure, specifically Adjusted EBITDA and Adjusted EPS, assists investors in understanding the ongoing operating performance of Resideo by presenting the financial results between periods on a more comparable basis.
- Included in the first quarter 2024 were $5 million of restructuring costs, compared to restructuring costs of $2 million in first quarter of 2023.
- Operating profit of $49 million for first quarter 2024 decreased 23% from $64 million in first quarter 2023.
- The following table summarizes the Company's current second quarter 2024 and full year 2024 outlook.