Tag: Jay Geldmacher

SCOTTSDALE, Ariz., and CHARLOTTE, N.C. – Resideo Technologies has agreed to acquire Snap One Holdings for $10.75 per share in cash, for a transaction value of approximately $1.4 billion, inclusive of net debt. Upon closing, Snap One will integrate into Resideo's ADI Global Distribution business. “The acquisition of Snap One is an exciting step in Resideo’s continued transformation through portfolio optimization, operational enhancements and structural cost savings actions,”...

SCOTTSDALE, Ariz. – Resideo Technologies exited 2023 with a strong Q4, and now it's riding that momentum into 2024, making some significant changes to reshape its portfolio and operations. Among the highlights for the year, Resideo saw revenue of $6.2 billion for 2023, an adjusted EBITDA of $552 million, and $440 million in cash from operations. Its report noted that the company improved business execution in the second half of the year with products and solutions transformation...

It’s Valentine's Day and I’d love to mention that I have a sweetheart of a topic to share this week, but I’m sorry to say it’s left me a little brokenhearted. Since the beginning of February, I’ve been watching a lot of Q4 2023 reports roll out and while we can still safely call it the year of AI, it’s also the year of the residential security market falling flat on its face. I talked about this a bit in my last blog post where I discussed ADT...

SCOTTSDALE – Resideo Technologies, Inc., a global provider of home comfort, life safety and security solutions, and distributor of commercial and residential security and audio-visual products, will release its fourth quarter (Q4) and full-year 2023 financial results on Tuesday, Feb. 13, 2024. A conference call and simultaneous webcast to discuss the results will be held on Tuesday, Feb. 13, at 5:00 p.m. ET. Interested investors and other parties can listen to a webcast of the...

SCOTTSDALE, AZ – Resideo Technologies has produced its financial results for the third quarter ended Sept. 30, 2023. Highlights from the quarter include a net revenue of $1.55 billion compared to $1.62 billion in the third quarter 2022, and income from operations of $109 million, including restructuring charges of $38 million, compared to $155 million in the third quarter 2022. A fully diluted GAAP EPS of $0.14 and non-GAAP EPS of $0.41 compared to GAAP EPS of $0.42 and non-GAAP EPS...

SCOTTSDALE, AZ – Resideo Technologies announced the completion of the previously announced sale of its Genesis Cable business to Southwire Company, LLC for $87.5 million in cash, subject to customary purchase price adjustments. The after-tax proceeds will be used to support Resideo's capital allocation strategy the company wrote in a release. That includes ongoing organic and inorganic investments and their recently announced share repurchase program. "The closing of the Genesis...

SCOTTSDALE, Ariz. – Commercial and residential distributor of security and audio-visual products Resideo presented a positive first quarter earnings call with modest gains. Quarter highlights include a net revenue of $1.62 billion, up 8 percent from $1.5 billion in the third quarter 2021. Other financial indicators were also positive although the failed to reach the same heights as previous quarters with a gross profit margin of 26.6 percent, compared to 28.1 percent in the prior year comparable...

SCOTTSDALE, Ariz. – Resideo Technologies, Inc. has announced the completion of its acquisition of BTX Technologies, Inc., a privately held distributor. Based in Hawthorne, N.Y., and founded in 1967, BTX is described as a leading distributor of professional audio, video, and data communications and broadcast equipment. BTX additionally offers a private brand portfolio, including the BookIT Room Scheduling Solution, which holds several patents for connectivity products and provides manufacturing...

SCOTTSDALE, Ariz.—Resideo Technologies, Inc., a global provider of home comfort and security solutions and distributor of commercial and residential security and audio-visual products, has announced Q3 financial results ending Oct. 1, 2022. Among the Q3 2022 highlights were: Net revenue of $1.62 billion, up 8 percent from $1.5 billion in the third quarter 2021 Gross profit margin of 26.6 percent, compared to 28.1 percent in the prior year comparable period Operating...

AUSTIN, Texas—As the result of a comprehensive search process, Resideo Technologies, Inc. appointed Jay Geldmacher as president and CEO, and a member of the board of directors, effective May 28. Geldmacher succeeds Mike Nefkens, who announced company departure in Dec. 2019. “Jay is the ideal CEO to lead Resideo forward,” Roger Fradin, chairman of the board, Resideo, said in the announcement. “Jay has a long history of operational excellence while delivering profitable growth and value...