Resideo Stock Soars With Strong ADI And Products Revenue

By John Honovich, Published Nov 10, 2020, 09:23am EST

Resideo's stock has soared 60%+ since the company's Q3 2020 financials were released last week.

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Inside this note, we examine Resideo's financial examining both the ADI distribution and Honeywell Homes sides of the business.

ADI ******

***'* ******* ******* **** 8.2% ** ** ****, a ****** ****** ****** building *** *** ** performance **** *** ******** to ****** ***** **** ***** ******** ***'* ***** **** down **%.

*** ****, *** ******* is ************ ************ ** online ******* *** ******** acquisitions:

** ***, ***** *********** will ******* ******* ************, e-commerce *********** *** ******** M&A.

**** *******, *** ******* said **** **** ***** to ** **** **** calling:

** *** ********* **** aggressively ** **** ***** initiatives **** ******** *********.

*** ** ***** **** for ***** ****** ***** its ******* ****** (***** LTS, ***, ***.) **** more ** ********. ** the ****** **** *** really **** ****, **** could **** *****.

ADI ******* **** ********* **** ********

******* ******* **** *******'* CEO ********** ** ****** ADI **** **** ********* Home / ******* ********:

* ***** ** **** a **** *********** ** have * ******* ************* between *** *** ******** & ********* *****. *** looking ** **** -- as ******** & ********* looks ** ***** ******* road **** ** *** future *** **** ** the **** ****, ********** what *** ** **** further **** ***. *** so ****'* *********. *** that ***** ****, ** you **** *********, *** I ********* ***** *** breaking **** ** *****. And * **** **** two ****** *** *** working **** ****** ********, and **'** *********** **** in * *** ***

**** ** *** *** as, ***-*******, *** **** favored ********* ********. ** the **** ****, ******** Honeywell **** **** *** help ******* ***** *** risks ******** **** ***'* rival ********.

Products / ********* *****

*** ******** **** *** the ****** **********, **** Q3 ******* ** **% year **** ****, ********** ** ****** ******* ********* **%. The ******* ***** "******** end ****** ******, ************ in *** ******** *** comfort *******."

************, *** ******* ********* reorganization:

** **** *********** ******** & ********* ** ********* engineering *** ******* **** management. ***** ******* *** designed ** ****** ************* across *** ****** ******* portfolio *** ********* ******** critical ** ******** ********** new ******** ** ****** quickly *** **** ***********, while ******** ** *** aligned **** *** ***** of *** *********.

** ** *** ***** the ******* ******** / Honeywell **** **** ** we ****** ***** ***** but ******* ****** *** home ******** *** ******* markets *** **** ****** up *** ******** / greater **** ******** ** this ** ****** ******* Resideo.

Stock *****

**** ***** *******, *******'* stock **** ** **** ~$11 *** ***** ** over $**, ** ***** below:

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Still *** ***** ***

** *** ******** ****, the *******'* ***** ** still ******* ~**% **** than **** ** *** spun *** **** ****:

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