Latest news with #Resideo
Malaysian Reserve
4 days ago
- Business
- Malaysian Reserve
Resideo Announces Completion of Transaction with Honeywell To Accelerate Payment of All Potential Monetary Obligations Under Indemnification and Reimbursement Agreement
SCOTTSDALE, Ariz., Aug. 13, 2025 /PRNewswire/ — Resideo Technologies, Inc. (NYSE: REZI), a leading global manufacturer, developer, and distributor of technology-driven sensing and controls products and solutions for residential and commercial end-markets, today announced that it has completed the previously announced transaction with Honeywell International Inc. (NASDAQ: HON) to accelerate and eliminate all future monetary obligations under the Indemnification and Reimbursement Agreement (the 'Indemnification Agreement'), which the companies entered into in 2018 in connection with Resideo's spin-off from Honeywell. Resideo's other agreements with Honeywell, including its long-term license to use the Honeywell Home brand, will remain in effect. In connection with the completion of the transaction, Resideo made a one-time cash payment to Honeywell of $1.59 billion resulting in the termination of the Indemnification Agreement, including the elimination of Resideo's obligation to make annual payments to Honeywell of up to $140 million through year-end 2043 and the elimination of all of the affirmative and negative covenants contained in the Indemnification Agreement. Advisors Willkie Farr & Gallagher LLP served as legal counsel to Resideo and Collected Strategies served as strategic communications advisor in connection with the transaction. About Resideo Resideo is a leading manufacturer, developer, and distributor of technology-driven sensing and controls products and solutions for residential and commercial end-markets. We are a leader in the home heating, ventilation, and air conditioning controls markets, smoke and carbon monoxide detection home safety and fire suppression products markets, and security products markets. Our solutions and services can be found in over 150 million residential and commercial spaces globally, with tens of millions of new devices sold annually. For more information about Resideo and our trusted, well-established brands including First Alert, Honeywell Home, BRK, Control4, and others, visit Contacts: Investors: Christopher T. LeeGlobal Head of Strategic Financeinvestorrelations@ Media: Garrett TerryCorporate Communications or Dan Moore, Jim Golden, Tali EpsteinCollected StrategiesResideo-CS@
Yahoo
5 days ago
- Business
- Yahoo
Resideo Technologies Pops As Honeywell Indemnity Buyout Boosts Growth Story
Resideo Technologies, Inc. (NYSE:REZI) ended its long-standing Honeywell International Inc. (NASDAQ:HON) indemnification with a $1.59 billion buyout, removing a major overhang and clearing the way for cleaner earnings and an ADI Global separation. Morgan Stanley analyst Erik W Woodring upgraded Resideo from Equal-weight to Overweight, raising the price forecast from $24 to $35. Woodring laid out a three-part case. The analyst said Resideo continues to execute, with second quarter above the high end of guidance, the strongest organic growth in 15 quarters, and a ninth straight P&S gross-margin argued that last week's end of the long, complex Honeywell indemnity removes a structural overhang and clears a path to about $3 in calendar year 2026 earnings power. The analyst's non-GAAP EPS for 2026 is $3.02, roughly 23% above consensus. He added that the planned ADI Global separation in the second half of 2026 sharpens the sum-of-the-parts story. Woodring argued the market still underestimates the impact of canceling the Honeywell indemnification. When Resideo was spun off in 2018, it took on a legal agreement requiring $140 million of annual cash payments through 2043 to settle an environmental liability unrelated to its business, an obligation that also added needless complexity. He said years of investor conversations made clear how that burden weighed on the story. The analyst noted that on July 30 Resideo agreed to pay Honeywell $1.59 billion, funded with about $400 million of cash and roughly $1.2 billion of debt, to pull forward all remaining payments and terminate the agreement, which had also constrained material corporate actions. He called the move transformational for two reasons: it removes a long-standing structural overhang that discouraged deeper diligence, and, even after financing costs, it adds an estimated 40 cents to annual non-GAAP EPS. He has included that uplift in a new CY26 EPS estimate of $3.02, which he believes consensus has not fully reflected. Price Action: REZI shares trading higher by 14.02% to $31.33 at last check Tuesday. Read Next:Photo via Shutterstock Latest Ratings for REZI Date Firm Action From To Feb 2022 Morgan Stanley Maintains Equal-Weight Oct 2021 Morgan Stanley Maintains Equal-Weight Sep 2021 Morgan Stanley Maintains Equal-Weight View More Analyst Ratings for REZI View the Latest Analyst Ratings Up Next: Transform your trading with Benzinga Edge's one-of-a-kind market trade ideas and tools. Click now to access unique insights that can set you ahead in today's competitive market. Get the latest stock analysis from Benzinga? This article Resideo Technologies Pops As Honeywell Indemnity Buyout Boosts Growth Story originally appeared on © 2025 Benzinga does not provide investment advice. All rights reserved.
CNET
05-08-2025
- CNET
Smart Thermostats and Your Privacy: Here's What Data They're Collecting Around Your Home
A recent CNET survey found that high energy bills are a source of stress for 78% of American adults, and investing in a smart thermostat could help you take control of your energy usage. Smart thermostats do so much for such a little device, from learning your heating and cooling habits to managing your humidity, air quality and more. But before you drop a few hundred dollars on a smart thermostat and maybe a satellite sensor or two, you should know how it's going to track you and what it's doing with the data. When I discussed privacy issues with Resideo and its Honeywell Home brand, a spokesperson said, "For someone looking to upgrade to a smart thermostat who prioritizes privacy, I'd recommend using one from a trusted manufacturer, ensure the thermostat is connected to a private, password-protected Wi-Fi network and use Multi-Factor Authentication, which can add an extra layer of protection." That's a great start, but it's also important to understand the details of what smart thermostats collect and process, especially since they're always keeping an eye (well, not a literal eye) on your home. I found out what data they keep and why. Read more: My Inside Look at How One Superhero Gadget Can Save Your Home Hundreds What are smart thermostats tracking about you? Google/CNET The good news is that smart thermostats don't track much more than your average app, and they aren't particularly invasive compared with other home devices. However, they do harvest some types of data. Resideo broke down how thermostats, like its Honeywell Home line, collect info in several key categories: Account data : Account data refers to all the data you provide when you sign up for the smart thermostat app. That also includes a lot of the actions that the app logs, like the status of the thermostat, login attempts and how customers are setting things like routines and third-party connections, such as connections with Apple HomeKit. : Account data refers to all the data you provide when you sign up for the smart thermostat app. That also includes a lot of the actions that the app logs, like the status of the thermostat, login attempts and how customers are setting things like routines and third-party connections, such as connections with Apple HomeKit. Energy management data : Resideo also refers to this as "demand response" information. Basically, any program you sign up for that lets the thermostat automatically adjust itself due to present conditions (like peak usage hours, automation, etc.) will send that data to Resideo, including the changes made and how long the thermostat made the change. The thermostat also collects data about manual changes, such as if the customer overrides the automatic response with their own temperature. : Resideo also refers to this as "demand response" information. Basically, any program you sign up for that lets the thermostat automatically adjust itself due to present conditions (like peak usage hours, automation, etc.) will send that data to Resideo, including the changes made and how long the thermostat made the change. The thermostat also collects data about manual changes, such as if the customer overrides the automatic response with their own temperature. Usage data : Usage data refers to a variety of information needed to enable more complex smart thermostat features. In this case, Resideo specifically called out location-based data used to automatically change thermostat settings based on whether the customer is home or away. Other applicable features may include changes based on local weather or indoor air quality. : Usage data refers to a variety of information needed to enable more complex smart thermostat features. In this case, Resideo specifically called out location-based data used to automatically change thermostat settings based on whether the customer is home or away. Other applicable features may include changes based on local weather or indoor air quality. "Pro" data: This refers to data about professionals who install and work on the thermostat and related support and technical information for the model. Other companies are similar in what data they collect. Nest, for example, breaks its collection down into setup info, environmental data from the thermostat itself, all direct adjustments you make, heating and cooling usage information and technical data from the thermostat -- to much the same result as Resideo, albeit more comprehensive. What do smart thermostat companies do with this information? They primarily collect it for internal analysis. They want to know how people heat and cool their homes, when and why they make thermostat changes and how they use the app. Some of this data can help them target their internal marketing efforts, while other types of data can inform design choices or app UI. Companies generally want a good idea of how their customers behave and if those behaviors indicate more sales opportunities, likely buyers or new features to increase device value. In some cases, companies may also share or sell data to third parties for additional analysis, services and marketing opportunities. As Ecobee says, it uses information to, among other things, "Market to you, including providing you information about our affiliates' products and services," as well as, "Customize your experience and provide you with targeted advertising based on your online activity and inferred interests," and "For testing, research, analysis, and product development, including to understand our audience, develop and improve the Ecobee Services, as well as our customer service, products and services." We'll discuss this more below, but thermostat companies generally limit third-party sharing to only when necessary and require your consent before sharing (that consent may be part of those long user license agreements the app gives you). This part deserves a closer look. Do smart thermostats share your data with third parties? Thermostat sensors can go anywhere to monitor specific temperatures. Google Nest They may share data depending on their partnerships or deals. However, some brands have a policy of never sharing data with third parties. Others, like Resideo, require explicit customer permission to share data with their third-party connections, which also helps meet privacy regulations in places like California or the EU. Ecobee also seems to require consent, although their language is vaguer. Brands like Sensi outright say they won't sell personal information to third parties. Google Nest meanwhile, has a similar rule for its data sharing program but has a notable exception for connected services, saying, "We will ask your permission before sharing your personal information with third parties for purposes other than at your request or to provide Nest's Products, and to do so only when we think they will provide you with a welcome additional service." Ultimately, if you're worried, it's a good idea to look at the fine print when creating a thermostat app account. Can smart thermostat companies access video or audio of your home? Google's Home app shows Nest doorbell views. Google That's not a concern with smart thermostats. Their motion sensors are made to sense activity and presence. They don't "watch" you in any real sense. Smart thermostats themselves don't listen to you, although if you use a voice assistant to control them, the company in charge of that voice assistant may be analyzing your commands. But you don't have to worry about cloud video hacks as you might with video doorbells or security cameras. One exception is the more advanced thermostats from the Canadian company Ecobee, which have built-in speakers for assistants like Alexa or Siri, and can connect to other Ecobee devices like video doorbells. In that case, your voice or video data may pass through the Ecobee servers. Ecobee reports that, "We have strict policies and technical measures to prevent unauthorized employee access to your data (including sound and video recordings). And when your data is no longer needed for a particular purpose, we will delete it." Ecobee does have a fairly strong privacy background, notably for refusing Amazon requests to collect and send constant customer data via its built-in Alexa, even when Alexa wasn't being used (which makes us a bit more worried about Amazon's own smart thermostat). Read more: The Best Home Security Cameras Without a Subscription Can you stop a smart thermostat from sensing your activity? Some thermostats, such as Nest, allow you to turn off learning or presence sensing functions, but that gives up the biggest features of a smart thermostat for relatively few privacy gains. If you're really concerned about privacy, we suggest not connecting or using voice assistants or other devices with the smart thermostat. It does plenty well on its own and you lower the ways companies can use your in-home habits. How do I learn about my specific thermostat's privacy policies? Nest Thermostat app view Tyler Lacoma/CNET Brands should have their privacy policies posted online so you can learn more, and we'll keep you updated if we notice any significant data breaches or security faux pas. For example, you can find Ecobee's privacy policy here, along with a form for specific privacy requests, like erasing all your data. Here's the policy for Nest thermostats. Amazon's thermostat, despite Honeywell Home being involved in the design, doesn't come with the same privacy guarantees and it's difficult to find out how Amazon uses it, but Mozilla's analysis of the smart thermostat considering Amazon's other policies is interesting. So which brands are best when it comes to thermostat privacy? Every brand will use your thermostat activity for its own internal analysis. Resideo's Honeywell Home and Ecobee appear to do well when it comes to third-party data sharing, and we like Ecobee's easy method of requesting that they erase all your data whenever you want. Nest gives itself some leeway in sharing data to enable various Nest products and connections, but doesn't share data for commercial or marketing purposes without asking. Nest also has a very good track record of protecting its own data. Amazon's approach to data collection on thermostats is more nebulous, but its track record on data management puts it in last place. Read more about what to expect from smart thermostats with my guide on thermostat installation, the big differences between smart and regular thermostats and our review of the highly affordable Amazon Smart Thermostat.
Yahoo
30-07-2025
- Business
- Yahoo
Resideo Signs Agreement To Accelerate Payment of All Potential Monetary Obligations Under Indemnification and Reimbursement Agreement with Honeywell and Eliminate All Future Payments
$1.59 Billion To Be Paid to Honeywell in the Third Quarter of 2025 SCOTTSDALE, Ariz., July 30, 2025 /PRNewswire/ -- Resideo Technologies, Inc. (NYSE: REZI), a leading global manufacturer, developer, and distributor of technology-driven sensing and controls products and solutions for residential and commercial end-markets, today announced that it has entered into a definitive agreement (the "Agreement") with Honeywell International Inc. (NASDAQ: HON) to accelerate and eliminate all future monetary obligations under the Indemnification and Reimbursement Agreement (the "Indemnification Agreement") the companies entered into in 2018 in connection with Resideo's spin-off from Honeywell. Resideo's other agreements with Honeywell, including its long-term license to use the Honeywell Home brand, will remain in effect. Under the terms of the Agreement, Resideo will accelerate all of its potential indemnification and reimbursement obligations and make a one-time cash payment of $1.59 billion to Honeywell in the third quarter of 2025. In addition, Resideo made its regularly scheduled third quarter payment under the Indemnification Agreement of $35 million on July 29, 2025. Upon the closing of the transactions contemplated by the Agreement, the Indemnification Agreement will terminate, resulting in the elimination of Resideo's obligation to make annual payments to Honeywell of up to $140 million through year-end 2043 and the elimination of all of the affirmative and negative covenants contained in the Indemnification Agreement. The termination of the Indemnification Agreement is expected to be immediately accretive to Resideo's adjusted earnings per share and free cash flow. Jay Geldmacher, Resideo's President and CEO, said, "This agreement with Honeywell marks a significant turning point for Resideo and exemplifies the constructive relationship we have forged with Honeywell. With the closing of this agreement, we expect to significantly enhance our strategic and financial flexibility while also providing simplicity and clarity for our investors. We believe our future annual profitability and free cash flow generation will be improved, and Resideo now has the ability to pursue the value-creating opportunity provided by separating ADI and Products & Solutions, which we also announced today." Resideo intends to finance the payment to Honeywell through a combination of approximately $400 million of cash-on-hand and new senior secured debt financing that has been committed by J.P. Morgan and Wells Fargo. Planned Spin-Off of ADI Global Distribution Resideo separately announced today its intention to separate its ADI Global Distribution business through a tax-free spin-off to Resideo shareholders, creating two independent public companies. Expectations as to Second Quarter 2025 Financial Results Resideo previously provided an outlook on May 6, 2025, for its second quarter 2025 as follows: ($ in millions, except per share data) Q2 2025 Net revenue $1,805 - $1,855 Non-GAAP Adjusted EBITDA $175 - $195 Non-GAAP Adjusted Earnings Per Share $0.51 - $0.61 Resideo expects to be above the high-end of its outlook range for each of these three metrics. Resideo also expects to report total cash of approximately $750 million at June 28, 2025. Resideo will release its second quarter 2025 financial results and update its annual outlook on August 5, 2025. Conference Call and Webcast Details Resideo will hold a conference call with investors today, July 30, 2025, at 8:30 a.m. ET. An audio webcast of the call will be accessible at where related materials will be posted before the call. A replay of the webcast will be available following the presentation. To join the conference call, please dial (800) 715-9871 (U.S. toll-free) or (646) 307-1963 (international) with the conference ID: 4230758. Advisors Willkie Farr & Gallagher LLP is serving as legal counsel to Resideo and Collected Strategies is serving as strategic communications advisor. About Resideo Resideo is a leading manufacturer, developer, and distributor of technology-driven sensing and controls products and solutions for residential and commercial end-markets. We are a leader in the home heating, ventilation, and air conditioning controls markets, smoke and carbon monoxide detection home safety and fire suppression products markets, and security products markets. Our solutions and services can be found in over 150 million residential and commercial spaces globally, with tens of millions of new devices sold annually. For more information about Resideo and our trusted, well-established brands including First Alert, Honeywell Home, BRK, Control4, and others, visit Forward-Looking Statements This press release contains forward-looking statements, including, but not limited to, those regarding the (i) anticipated completion of the transaction announced with Honeywell (including the timing thereof), (ii) expectation that the completion of the transaction will be immediately accretive to Resideo's adjusted earnings per share and free cash flow and increase future annual profitability, (iii) belief that the transaction will enhance Resideo's strategic and financial flexibility, (iv) announced separation of Resideo Technologies' Products & Solutions and ADI Global Distribution businesses into two independent publicly traded companies, and (v) the expectation that its financial results for the quarter ended June 28, 2025 will be above the high-end of its outlook range provided in May 2025. Forward-looking statements are typically identified by such words as "anticipate," "believe," "could," "estimate," "expect," "intend," "may," "plan," "project," "should," "will," and similar expressions, although not all forward-looking statements contain these words. These statements are based on current expectations and assumptions and are subject to risks and uncertainties that could cause actual results to differ materially from those projected. Among the factors that could cause actual results to differ materially from those expressed or implied in any forward-looking statements are the possibility that the transaction announced with Honeywell is not consummated (including due to the unavailability of the related debt financing), that the intended economic impact or anticipated strategic and financial flexibility arising from the consummation of such transaction do not materialize as planned, that the announced separation of the ADI Global Distribution and Products & Solutions businesses is not pursued or, if pursued, that the conditions to such separation are not satisfied within the expected timeframe or at all, and that the actual financial results for the second quarter ended June 28, 2025 differ materially from Resideo's expectations set forth in this press release (including by not being above the high-end of its outlook range provided in May 2025), including due to the completion of financial closing procedures, final adjustments and other developments that may arise between the date of this press release and the time that financial results are finalized. Additional risks include the impact of macroeconomic and geopolitical developments, market volatility, supply chain disruptions, changes in laws or regulations, litigation, and challenges related to talent attraction and retention. Further information on these and other risks and uncertainties is detailed in Resideo's filings with the U.S. Securities and Exchange Commission, including its most recent Annual Report on Form 10-K and any subsequent Quarterly Reports on Form 10-Q or Current Reports on Form 8-K. Resideo undertakes no obligation to update or revise any forward-looking statements contained herein, whether as a result of new information, future events, or otherwise, except as required by law. This press release also contains references to financial measures that are not presented in accordance with generally accepted accounting principles (GAAP). Resideo management believes the use of such non-GAAP financial measures, specifically Non-GAAP Adjusted EBITDA and Adjusted Net Income per diluted common share, assists investors in understanding the ongoing operating performance of Resideo by presenting the financial results between periods on a more comparable basis. A reconciliation of the forecasted range for Adjusted EBITDA and Adjusted Net Income per diluted common share for the second quarter of 2025 are not included in this release due to the number of variables in the projected range and because we are currently unable to quantify accurately certain amounts that would be required to be included in the U.S. GAAP measure or the individual adjustments for such reconciliation. Contacts: Investors: Christopher T. LeeGlobal Head of Strategic Financeinvestorrelations@ Media: Garrett TerryCorporate Communications or Dan Moore, Jim Golden, Tali EpsteinCollected StrategiesResideo-CS@ View original content to download multimedia: SOURCE Resideo Technologies, Inc. Sign in to access your portfolio
Yahoo
30-05-2025
- Business
- Yahoo
Q1 Earnings Highlights: Resideo (NYSE:REZI) Vs The Rest Of The Building Materials Stocks
Earnings results often indicate what direction a company will take in the months ahead. With Q1 behind us, let's have a look at Resideo (NYSE:REZI) and its peers. Traditionally, building materials companies have built competitive advantages with economies of scale, brand recognition, and strong relationships with builders and contractors. More recently, advances to address labor availability and job site productivity have spurred innovation. Additionally, companies in the space that can produce more energy-efficient materials have opportunities to take share. However, these companies are at the whim of construction volumes, which tend to be cyclical and can be impacted heavily by economic factors such as interest rates. Additionally, the costs of raw materials can be driven by a myriad of worldwide factors and greatly influence the profitability of building materials companies. The 9 building materials stocks we track reported a satisfactory Q1. As a group, revenues beat analysts' consensus estimates by 0.6% while next quarter's revenue guidance was in line. Thankfully, share prices of the companies have been resilient as they are up 9.4% on average since the latest earnings results. Resideo Technologies, Inc. (NYSE: REZI) is a manufacturer and distributor of technology-driven products and solutions for home comfort, energy management, water management, and safety and security. Resideo reported revenues of $1.77 billion, up 19.1% year on year. This print exceeded analysts' expectations by 3%. Overall, it was a very strong quarter for the company with a solid beat of analysts' EPS estimates and full-year EBITDA guidance exceeding analysts' expectations. "Resideo had a strong first quarter, reporting results at or above the high-end of the range for all of our key financial metrics. The ADI and Products and Solutions teams continued their excellent operational execution, with both segments generating organic net revenue growth, continued gross margin expansion, and healthy Adjusted EBITDA growth. We are re-affirming our 2025 outlook," said Jay Geldmacher, Resideo's President and CEO. Resideo scored the fastest revenue growth and highest full-year guidance raise of the whole group. Unsurprisingly, the stock is up 19% since reporting and currently trades at $20.77. Is now the time to buy Resideo? Access our full analysis of the earnings results here, it's free. The first-ever Colombian company to trade on the NASDAQ, Tecnoglass (NYSE:TGLS) is a manufacturer of architectural glass, windows, and aluminum products. Tecnoglass reported revenues of $222.3 million, up 15.4% year on year, outperforming analysts' expectations by 3.3%. The business had an exceptional quarter with a solid beat of analysts' adjusted operating income estimates. The market seems happy with the results as the stock is up 21.6% since reporting. It currently trades at $86.01. Is now the time to buy Tecnoglass? Access our full analysis of the earnings results here, it's free. Beginning as a lumber supplier in the 1950s, UFP Industries (NASDAQ:UFPI) is a holding company making building materials for the construction, retail, and industrial sectors. UFP Industries reported revenues of $1.60 billion, down 2.7% year on year, falling short of analysts' expectations by 1.9%. It was a disappointing quarter as it posted a significant miss of analysts' adjusted operating income estimates. UFP Industries delivered the slowest revenue growth in the group. As expected, the stock is down 7.7% since the results and currently trades at $98.26. Read our full analysis of UFP Industries's results here. Founded in 1909, Vulcan Materials (NYSE:VMC) is a producer of construction aggregates, primarily crushed stone, sand, and gravel. Vulcan Materials reported revenues of $1.63 billion, up 5.8% year on year. This print came in 2.8% below analysts' expectations. Aside from that, it was a strong quarter as it logged a solid beat of analysts' EPS estimates and an impressive beat of analysts' adjusted operating income estimates. Vulcan Materials had the weakest performance against analyst estimates among its peers. The stock is up 8.2% since reporting and currently trades at $265.31. Read our full, actionable report on Vulcan Materials here, it's free. Originally founded as Carlisle Tire and Rubber Company, Carlisle Companies (NYSE:CSL) is a multi-industry product manufacturer focusing on construction materials and weatherproofing technologies. Carlisle reported revenues of $1.10 billion, flat year on year. This number topped analysts' expectations by 0.6%. Overall, it was a strong quarter as it also logged a solid beat of analysts' adjusted operating income estimates and a decent beat of analysts' EPS estimates. The stock is up 7.6% since reporting and currently trades at $387.34. Read our full, actionable report on Carlisle here, it's free. Thanks to the Fed's rate hikes in 2022 and 2023, inflation has been on a steady path downward, easing back toward that 2% sweet spot. Fortunately (miraculously to some), all this tightening didn't send the economy tumbling into a recession, so here we are, cautiously celebrating a soft landing. The cherry on top? Recent rate cuts (half a point in September 2024, a quarter in November) have propped up markets, especially after Trump's November win lit a fire under major indices and sent them to all-time highs. However, there's still plenty to ponder — tariffs, corporate tax cuts, and what 2025 might hold for the economy. Want to invest in winners with rock-solid fundamentals? Check out our 9 Best Market-Beating Stocks and add them to your watchlist. These companies are poised for growth regardless of the political or macroeconomic climate.
