Resideo Technologies, Inc. (NYSE:REZI) Q1 2023 Earnings Conference Call May 3, 2023 5:00 PM ET

Company Participants

Jason Willey - Vice President of Investor Relations

Jay Geldmacher - Chief Executive Officer

Tony Trunzo - Chief Financial Officer

Conference Call Participants

Erik Woodring - Morgan Stanley

Brett Kearney - Gabelli Funds

Paul Chung - J.P. Morgan

Brian Ruttenbur - Imperial Capital

Operator

Good afternoon. My name is Abby, and I will be your conference operator today. At this time, I would like to welcome everyone to the Resideo First Quarter 2023 Earnings Conference Call. All lines have been placed on mute to prevent any background noise. After the speakers' remarks, there will be a question-and-answer session. [Operator Instructions] Thank you.

Mr. Jason Willey, Vice President of Investor Relations, you may begin your conference.

Jason Willey

Good afternoon, everyone, and thank you for joining us for Resideo's first quarter 2023 earnings call.

On today's call will be Jay Geldmacher, Resideo's Chief Executive Officer; and Tony Trunzo, our Chief Financial Officer.

A copy of our earnings release and related presentation materials are available on the Investor Relations page of our website at investors.resideo.com.

We would like to remind you that this afternoon's presentation contains forward-looking statements. Statements other than historical facts made during this call may constitute forward-looking statements and are not guarantees of future performance or results and involve a number of risks and uncertainties.

Actual results may differ materially from those in the forward-looking statements as a result of a number of factors, including those described from time to time in Resideo's filings with the Securities and Exchange Commission. The company assumes no obligation to update any such forward-looking statements. We identify the principal risks and uncertainties that affect our performance in our annual report on Form 10-K and other SEC filings.

With that, I will turn the call over to Jay.

Jay Geldmacher

Thank you, Jason, and good afternoon, everyone.

I'm pleased to say, in the first quarter, we delivered results at the upper end of the outlook we outlined back in February. Over the past several months, we've seen improvements in a number of areas related to supply chain and logistics. Our teams are focused on taking advantage of these improvements to drive gross margin and cash flow improvements as 2023 progresses.

While macro signals in our end markets remain mixed, we see opportunities for improved volume trajectory as the year progresses, as customer inventory trends normalize, and we leverage the opportunities we've created over the past 18 months by being a reliable partner to our customers.