Home automation and security solutions provider Resideo Technologies (NYSE:REZI) will be announcing earnings results tomorrow after the bell. Here's what to expect.
Resideo met analysts' revenue expectations last quarter, reporting revenues of $1.49 billion, down 4.1% year on year. It was a solid quarter for the company, with an impressive beat of analysts' earnings estimates.
Is Resideo a buy or sell going into earnings? Read our full analysis here, it's free.
This quarter, analysts are expecting Resideo's revenue to decline 4.2% year on year to $1.53 billion, in line with the 5% decrease it recorded in the same quarter last year. Adjusted earnings are expected to come in at $0.49 per share.
The majority of analysts covering the company have reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. Resideo has missed Wall Street's revenue estimates four times over the last two years.
Looking at Resideo's peers in the building materials segment, some have already reported their Q2 results, giving us a hint as to what we can expect. UFP's revenues decreased 6.9% year on year, beating analysts' expectations by 1.6%, and Carlisle reported revenues up 11%, in line with consensus estimates. UFP traded up 3.8% following the results while Carlisle's stock price was unchanged.
Read our full analysis of UFP's results here and Carlisle's results here.
Investors in the building materials segment have had steady hands going into earnings, with share prices up 1.6% on average over the last month. Resideo is up 2.5% during the same time and is heading into earnings with an average analyst price target of $24.5 (compared to the current share price of $19.3).
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