Thread regarding Resideo Technologies layoffs

in the last earnings call, it was announced the CFO got replaced (and the chief revenue officer got demoted to just cro for p&s). shouldn't be a surprise to anyone in upcoming earnings calls there will be more changes...

should be noted that there were no "thank you for your service" or "we wish you well" remarks from the CEO. when a CFO who's worked for four+ years (side by side with the CEO) at trying to turn a place around gets replaced all of a sudden like that, you have to wonder if something is up...especially when he's replaced by the CFO of the company that was just acquired. an acquired company that hadn't been profitable since going public, and a company that rezi borrowed $1.1b to acquire, $500m of that from a private equity firm who now has two people sitting on the board...

Resideo keeps using cash to create revenue stream via acquisition (usually smaller than the acquisition amount), nothing new there... business as usual. Great company !!

If Resideo needs a new product, it can always launch another app to control all Resideo devices... Except most of the thermostats won't be compatible... And most of the security products won't be compatible either... But some products will be!

I predict a bleak year ahead with minimal new product launches. Smoke and mirrors when we buy another snappy company

The street as spoken ~5% down.

P&S has been talking about NPI for several quarters now. Looks like its all talk. Where are the new products? Apparently the new president is going to talk about it again end of the year. did anyone notice the $7m reduction in R&D costs.

Products and Solutions revenues are down again, despite strong performance from First Alert. The steady decline of the legacy businesses continues. The acquisitions are the silver lining.

So hot off the press, ADi net revenue Q2 24 vs Q2 23 is down, excluding Snap One revenue.

ADI Gross Margin up 20 basis points. "The increase was driven by the inclusion of higher margin Snap One sales, largely offset by reduced inflationary pricing benefits and lower product line margin".

Looks like the ADI cash cow's days are numbered. Even more so as inevitably they will sc--w up the Snap One business as the integration matures.