Resideo Technologies, Inc. (NYSE: REZI) reported Q2 EPS of $0.17, $0.13 better than the analyst estimate of $0.04. Revenue for the quarter came in at $1 billion versus the consensus estimate of $1.02 billion.

Highlights

• Net Revenue of $1.0 billion, down 17% from $1.2 billion in the second quarter 2019
• GAAP Net Loss of $76 million; compared to GAAP Net Loss of $11 million in the second quarter 2019
• Adjusted Net Income1 of $21 million, compared to Adjusted Net Income1 of $63 million in the second quarter 2019
• Adjusted EBITDA2 of $63 million, down 48% from $122 million in the second quarter 2019
• GAAP EPS of negative $0.62; Adjusted EPS3 of $0.17

Management Remarks

"Thank you to our Board of Directors and the entire Resideo team for the warm welcome and, more importantly, the energy, commitment, and focus during these unprecedented times," said President and CEO Jay Geldmacher. "Resideo continues to operate at the highest level of safety and concern for the wellbeing of our employees, professional installers, and customers. Our second quarter results announced today reflect the challenging operating environment caused by the COVID-19 pandemic. I am encouraged by the resilience our business has shown in the face of such headwinds, especially the momentum we saw in June exiting the second quarter. We are well positioned to weather near-term challenges and remain committed to ongoing strategic initiatives that will sustain long-term growth."

For earnings history and earnings-related data on Resideo Technologies, Inc. (REZI) click here.