41.4 F
New York
Sunday, February 28, 2021

Resideo Technologies [NYSE: REZI] Reports Third Quarter Financial Results

Must read

ChargePoint Inc [NYSE: CHPT] Announces The Completion Of Business Combination With SwithBack Energy

ChargePoint Inc revealed that the company has completed its business merger with Switchback Energy Acquisition Corp. Additionally, The companies uncover the close of...

Bank of America [NYSE: BAC] Announced Paid Break For Employees For Covid Vaccination

Bank Of America Corp  announced that the company will give its staff paid time off for covid vaccination. Moreover, the company states that...

Fidelity D and D Bancorp [NASDAQ: FDBC] Executes Acquisition Of Landmark Bancorp

Fidelity D and D Bancorp, Inc. announced the acquisition of Landmark Bancorp, Inc. The company reported executing the contract in which Landmark will...

Atlassian Corp [NYSE: TEAM] Announces The Acquisition Of Chartio

Atlassian Corporation announced the acquisition of Chartio. The acquisition of Chartio to the Atlassian stage will give a robust analytic experience across our...

Resideo Technologies, Inc. [NYSE: REZI] has shared the financial and operating results for the third quarter ended September 26, 2020. It has reported net revenue of $1.4 billion as compared to the $1.2 billion revenue in the third quarter of 2019.

The Security & Protection Services Company has announced that it has experienced an increase of 11%. REZI revealed that its Operating Profit was $131 million in contrast to the $59 million Operating Profit in the third quarter of 2019.

Furthermore, its net income for the third quarter ended September 26, 2020, was $75 million as compared to the net income of $8 million in the third quarter.

The company has shared that the net cash provided by operating activities of $21 million for the third quarter of 2020. The company has experienced an increase because of the improvement in net income and an increase in accrued liabilities.

Resideo Technologies, Inc. [NYSE: REZI] shares soared 32.07% at $14.99 at the time of writing on Thursday. It has recorded a trading volume of 1.09 million as compared to the average volume of 639.46K.

Looking at its liquidity, it has a current ratio of 1.10 and a quick ratio of 0.70. The company has a 52-weeks low and high range of $3.72 and $14.90. This company has a total market cap of 1.44 billion at the time of writing.

Resideo Technologies has reported the Adjusted EBITDA of $188 million for the third quarter of 2020. It showed an increase of 65% as compared to the $114 million in 2019.

Its Gross Profit Margin was 27.2% for the third quarter of 2020 as compared to 25.2% in 2019. Resideo projected that the fourth quarter 2020 revenue will be in the range of $1.36 billion to $1.41 billion.

Its operating profit will be in the range of $130 million to $140 million. Lastly, Adjusted EBITDA will be in the range of $180 million to $190 million.

More articles

Latest article

MongoDB [NASDAQ: MDB] Announces Extended 5-year Collaboration With Google Cloud

MongoDB Inc. , reported an extended five-year collaboration that will stretch out their current go-to-market relationship. Moreover, it will provide a more profound integration...

Humana Inc [NYSE: HUM] Announces Collaboration With Mercy

Mercy and  Humana Inc. announces that the companies have collaborated. Both the companies inked a contract to extend patient access to virtual healthcare...

International Paper [NYSE: IP] Reports Purchase Of Berkley MF LLC

International Paper has purchased Berkley International's Molded Fiber (Pulp) production subsidiary, Berkley MF LLC. Berkley is the provider of essential packaging and e-commerce...

Perspecta [NYSE: PRSP] Received an Award For $38 Million To Continue Supporting DMDC

Perspecta Inc. , reported that the company has been granted an award to keep supporting the Defense Manpower Data Center (DMDC) with a strategic...

SG Blocks [NASDAQ: SGBX] Continues Growth Through The Execution Of 19-acre Acquisition Contract

SG Blocks, Inc. executes the contract to purchase the 19 acre Echo sites and all of its multiple structures. The company reported the...

HP Inc [NYSE: HPQ] Enters Into A Contract To Purchase HyperX

HP Inc. revealed that the company entered into a contract to purchase HyperX. It is the gaming subsidiary of Kingston Technology Company. Moreover,...

AT&T [NYSE: T] Might Sell Its Large Minority Stake At Direct TV/ U-Verse Operation To TPG

AT&T is approaching a deal to sell a significant minority stake in its DirecTV, AT&T TV Now, and U-Verse business to TPG. Additionally,...

Wipro [NYSE: WIT] Entered Into A Collaborative Agreement With Uptake

Uptake revealed that the company has collaborated with Wipro limited . The companies inked the agreement to deliver industrial intelligence for the utilities, chemical...