Resideo reports Q4 non-GAAP EPS 48c, consensus 44c

Reports Q4 revenue $1.54B, consensus $1.52B. “We finished 2023 on a strong note with results exceeding the midpoint of our fourth quarter outlook driven by continued improvement in order activity and gross margin in our Products and Solutions business,” commented Jay Geldmacher, Resideo’s President and CEO. “With a targeted focus on working capital, we significantly improved cash generation as the year progressed, ending 2023 with $440M of operating cash flow. This performance, and the high level of free cash flow conversion over the past three years, highlights the strong cash generation capabilities of both of our businesses.”