SCOTTSDALE, Ariz. (AP) — SCOTTSDALE, Ariz. (AP) — Resideo Technologies Inc. (REZI) on Wednesday reported first-quarter profit of $57 million.
On a per-share basis, the Scottsdale, Arizona-based company said it had net income of 38 cents. Earnings, adjusted for one-time gains and costs, came to 39 cents per share.
The results surpassed Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of 34 cents per share.
The residential comfort and security systems maker posted revenue of $1.55 billion in the period, also surpassing Street forecasts. Four analysts surveyed by Zacks expected $1.53 billion.
For the current quarter ending in June, Resideo Technologies said it expects revenue in the range of $1.59 billion to $1.64 billion.
The company expects full-year earnings to be $1.80 to $2 per share, with revenue ranging from $6.2 billion to $6.55 billion.
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