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Resideo's Q2 Earnings Exceed Expectations; Outlook Dims
17 Aug
Summary
- Resideo reported Q2 revenue of $1.98 billion, surpassing analyst forecasts.
- The company's non-GAAP profit per share exceeded estimates by 23%.
- Full-year revenue guidance was significantly reduced by 62.7%.
In the second quarter of 2026, Resideo Technologies reported revenue of $1.98 billion, exceeding analyst expectations by 2.3% and marking a 2% year-on-year increase. The company's adjusted earnings per share also surpassed estimates, coming in 23% higher than anticipated.
Despite these positive quarterly results, Resideo has significantly lowered its full-year revenue guidance. The updated forecast stands at $2.93 billion at the midpoint, a substantial 62.7% decrease from previous projections. This adjustment reflects ongoing weakness in the residential market and a notable decline in expected revenue from a major OEM security customer.
CEO Thomas Surran acknowledged strong performance in core product categories driven by customer demand. However, he also pointed to inflationary input costs and legal settlement expenses as factors impacting profitability. The company anticipates continued elevated costs for components like semiconductors and metals.
Looking ahead, Resideo's strategy will focus on new product launches and optimizing manufacturing operations. Management remains cautious due to the challenging macroeconomic environment and specific headwinds in certain sales channels, particularly the OEM security segment.
