Resideo Technologies, Inc. reported strong financial results for the fourth quarter and full year ended December 31, 2024, exceeding the high-end of its outlook range for all four key financial metrics. Full year 2024 net revenue reached $6.76 billion, an 8% increase year-over-year, with Adjusted EBITDA growing 17% to $693 million. Adjusted EPS for the full year was $2.29, up 5% from 2023.
In the fourth quarter of 2024, consolidated net revenue was $1.86 billion, a 21% increase from the prior year period, and gross profit margin expanded by 100 basis points to 28.5%. The Products and Solutions segment achieved 41.0% gross margin for the full year, reflecting structural improvements in operational efficiency. ADI Global Distribution's net revenue increased by $627 million year-over-year, driven by the inclusion of Snap One revenue.
The company generated $444 million in net cash from operating activities for the full year 2024, a 1% increase from 2023, demonstrating efficient cash conversion. Resideo initiated its full year 2025 outlook, projecting net revenue between $7.285 billion and $7.485 billion, and Adjusted EBITDA between $725 million and $805 million.
The content on BeyondSPX is for informational purposes only and should not be construed as financial or investment advice. We are not financial advisors. Consult with a qualified professional before making any investment decisions. Any actions you take based on information from this site are solely at your own risk.