Filing Flows › Resideo Technologies (REZI) › Q4 2024
Resideo Technologies (REZI) Q4 2024 earnings results (fourth quarter 2024)
10-K filed Feb 20, 2025
Resideo Technologies (REZI) reported revenue of $1.9B for the fourth quarter 2024 (Q4 2024), +21% from a year earlier and +2% from the quarter before. Operating margin was 7.8%, net earnings $23.0M (1.2% of revenue).
Resideo Technologies, Q4 2024: revenue $1.9B (+21% year over year), operating margin 7.8%, net earnings $23.0M, operating cash flow $203M. The chart follows the revenue to costs, profit and cash.
| Q4 2024 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $1.9B | +2% | +21% |
| Gross profit | $530M | +1% | +25% |
| Operating profit | $144M | +14% | -2% |
| Net earnings | $23.0M | +15% | -72% |
| Operating cash flow | $203M | +38% | -23% |
| Free cash flow | $181M | +45% | -22% |
What changed
Revenue was $1.9B in Q4 2024, up 21% year over year and up 2% from the previous quarter. ADI Global Distribution was the largest line at 64% of revenue.
Gross margin was 28.5%, up 1.0 points from a year earlier. Operating profit was $0.14B, a 7.8% margin (down 1.8 points year over year). Operating profit fell $3.0M even though revenue rose $0.32B versus a year earlier, so costs grew faster than sales. Operating expenses grew 40% against revenue growth of 21%. The fastest-growing cost line was Other operating costs (+240%). Net earnings were $0.02B, down 72% year over year. The effective tax rate was 48.9%.
Operating cash flow was $0.20B (down 23% year over year), 883% of net earnings. Non-cash charges added back $0.05B of depreciation and amortization and $0.01B of share-based compensation. Working capital and other items added $0.12B. Capital expenditures of $0.02B left free cash flow of $0.18B.
Questions
What was Resideo Technologies' revenue in the fourth quarter 2024?
Resideo Technologies (REZI) reported revenue of $1.9B for the fourth quarter 2024 (Q4 2024), +21% from a year earlier and +2% from the quarter before.
Was Resideo Technologies profitable in the fourth quarter 2024?
Operating profit was $144M (7.8% of revenue) and net earnings $23.0M.