Page 1

Resideo Announces First Quarter 2021 Financial Results May 6 , 2021 AUSTIN , Texas , May 6 , 2021 / PRNewswire / -- Resideo Technologies , Inc. ( NYSE : REZI ) , a leading global provider of home comfort and security solutions and distributor of commercial and residential security and audio - visual products , today announced financial and operating results for the first quarter ended April 3 , 2021 . resideo First Quarter 2021 Highlights • Net revenue of $ 1.4 billion , up 20 % from $ 1.2 billion in the first quarter 2020 • Gross profit margin of 25.9 % , up 180 basis points compared to gross profit margin of 24.1 % in the prior year comparable period • Operating profit of $ 130 million , an increase of $ 96 million over operating profit of $ 34 million in the first quarter 2020 • Positive cash provided by operating activities of $ 5 million , an improvement of $ 79 million compared to cash used for operating activities of $ 74 million in the prior year comparable period First Quarter 2021 Performance Consolidated revenue of $ 1.4 billion in the first quarter 2021 increased 20 % compared with $ 1.2 billion in the first quarter 2020. Products & Solutions revenue was $ 606 million , an increase of 28 % compared with revenue of $ 475 million in the prior year comparable period due to strong demand across Products & Solutions ' primary end markets and channels . ADI Global Distribution revenue was $ 813 million , an increase of 15 % compared with revenue of $ 704 million in the prior year comparable period due to improved demand for products serving both commercial and residential markets and growth in e - commerce sales .