Resideo Projects Q2 Results at High End of Guidance, Stock Rises
REZI sits 54% above its 52-week low of $20.41.
Summary
Resideo Technologies announced it expects second-quarter revenue and adjusted EBITDA for both its Products-and-Solutions and ADI Global Distribution segments to land at or above the midpoint of its previously issued guidance ranges. This positive update on Q2 performance follows the initial guidance provided on May 12th and comes as the company progresses with the planned spin-off of its ADI business, which recently secured $2.83 billion in financing. The improved outlook suggests stronger operational momentum than initially anticipated.
At the time of this announcement, REZI was trading at $31.44 on NYSE in the Industrial Applications And Services sector, with a market capitalization of approximately $4.8B. The 52-week trading range was $20.41 to $45.29. This news item was assessed with positive market sentiment and an importance score of 8 out of 10. Source: Dow Jones Newswires.