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Resideo Q1 results up 3% year-over-year, softness in residential market

May 4, 2023Ken Showers, Managing Editor

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...

AI-based, Audio-Visual, commercial, Distributor, First Alert, First Quarter (Q1), HPC-r, Jay Geldmacher, Residential, Resideo, Security, VX1