Resideo Technologies, Inc.
43.68-0.12 (-0.27%)
Oct 29, 4:00:02 PM EDT · NYSE · REZI · USD
Key Stats
Market Cap
6.50BP/E (TTM)
-Basic EPS (TTM)
-5.52Dividend Yield
0%Recent Filings
8-K
Resideo completes $1.59B deal with Honeywell to end future obligations under 2018 spin-off agreement.
Resideo Technologies, Inc. (REZI) completed a transaction with Honeywell International Inc. (HON) to accelerate and eliminate all future monetary obligations under the 2018 Indemnification and Reimbursement Agreement from the spin-off. Resideo made a one-time cash payment of $1.59 billion to Honeywell, terminating the agreement and removing obligations including annual payments up to $140 million through 2043. Other agreements, such as the Honeywell Home brand license, remain in effect. Willkie Farr & Gallagher LLP advised Resideo legally, and Collected Strategies handled strategic communications.
8-K
Record Q2 revenue, raised outlook
Resideo Technologies reported record Q2 2025 net revenue of $1.94 billion, up 22% year-over-year, fueled by the Snap One acquisition and 8% organic growth, while Adjusted EBITDA hit $210 million, a 20% rise. A $882 million expense from the Honeywell Indemnification Agreement termination swung the quarter to a $825 million net loss. The company raised its full-year 2025 outlook to $7.45-$7.55 billion in revenue and $845-$885 million in Adjusted EBITDA. Strong cash flow persists, but the $1.59 billion Q3 payment looms large.
10-Q
Q2 FY2025 results
Resideo's Q2 revenue climbed 22% year-over-year to $1.9B, fueled by the Snap One acquisition and steady organic growth, while gross margins edged up to 29.3% on better pricing. Operating income rose 45% to $177M, but a $882M Indemnification Agreement expense—tied to a planned $1.6B termination payment to Honeywell—swung net income to a $825M loss, versus $30M profit last year; the net loss exceeds operating loss by over 20% due to this non-deductible hit, interest, and taxes. Cash swelled to $753M, with operating cash flow at $135M YTD (up 44% y/y, derived), and free cash flow of $84M after $51M capex. The Snap One deal, closed June 2024 for $1.4B (cash and preferred stock), added $396M goodwill and $770M intangibles. Yet tariffs on imports from China and elsewhere pose a key risk to margins.
8-K
Resideo terminates Honeywell deal
Resideo Technologies signed a termination agreement with Honeywell on July 30, 2025, to pay $1.59 billion in Q3 2025, ending all future indemnification obligations under their 2018 pact and freeing up annual cash outflows of up to $140 million through 2043. Backed by $1.225 billion in committed debt and $400 million cash, this move boosts financial flexibility while paving the way for a tax-free spin-off of its ADI Global Distribution unit in H2 2026. Termination expected by August 29, 2025. Deal closes the Honeywell chapter.
8-K
Resideo appoints new CAO
Resideo Technologies appointed Jeffrey Kutz as Senior Vice President and Chief Accounting Officer, effective July 21, 2025, succeeding Michael Carlet who had served in the interim role. Kutz brings extensive experience from Quaker Chemical and Air Products, with an initial base salary of $425,000, 50% target incentive, and $650,000 in sign-on equity plus $120,000 cash. This bolsters the finance team's expertise amid ongoing operations. No risks disclosed.
IPO
Website
Employees
Sector
Industry
AIT
Applied Industrial Technologies
254.10-3.93
ARLO
Arlo Technologies, Inc.
19.34+0.08
ARW
Arrow Electronics, Inc.
116.10-2.17
CARR
Carrier Global Corporation
60.75+2.23
EVI
EVI Industries, Inc.
26.49-1.47
HON
Honeywell International Inc.
212.89-1.52
LII
Lennox International, Inc.
487.78-13.38
RMD
ResMed Inc.
253.62-2.95
TT
Trane Technologies plc
427.48+1.12
WCC
WESCO International, Inc.
228.29+7.52