Resideo reports Q2 adjusted EPS 62c vs. 48c last year

Reports Q2 revenue $1.59B vs. $1.6B last year. “Our Q2 results demonstrated the substantial progress we have made in transforming the structural profitability profile of the business and in executing on value creating strategic transactions,” commented Jay Geldmacher, CEO. “Products and Solutions delivered gross margin and Adjusted EBITDA margin at the highest levels since Q1 2022. The business accomplished these results in a market environment constrained by higher interest rates and low housing turnover. ADI continued to make progress in driving key strategic initiatives around e-commerce and exclusive brands sales and saw improved customer activity as the quarter progressed.”