Resideo Technologies, Inc. (NYSE:REZI) Q2 2022 Earnings Conference Call August 4, 2022 5:00 PM ET

Company Participants

Jason Willey – Vice President-Investor Relations

Jay Geldmacher – Chief Executive Officer

Tony Trunzo – Chief Financial Officer

Conference Call Participants

Michael Fisher – Evercore ISI

Paul Dircks – William Blair

Operator

Ladies and gentlemen, at this time, I would like to welcome everyone to the Resideo Technologies Second Quarter 2022 Earnings Conference Call. Today's call is being recorded. All participants will be in a listen-only mode until the formal question-and-answer portion of the call. [Operator Instructions]

It is now my pleasure to turn today's call over to Mr. Jason Willey, Vice President of Investor Relations. Mr. Willey, you may now begin.

Jason Willey

Good afternoon, everyone, and thank you for joining us for Resideo's second quarter 2022 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 the 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 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 now turning the call over to Jay.

Jay Geldmacher

Thank you, Jason, and good afternoon, everyone. We delivered strong results in Q2 with record revenue at ADI and Products & Solutions and operating profit above the end of our outlook. We continue to execute well through supply chain and inflationary challenges to drive strong organic performance while actively deploying capital to value-creating M&A. We remain focused on delivering for customers and our execution has enabled us to improve our positioning on key distribution and retail accounts and add new OEM business.

While the current macro backdrop creates uncertainty around the short-term trajectory for demand, the significant progress we have made over the past two years and the attractive structural trends across our markets, position the business to be resilient throughout the macroeconomic cycle. The housing market remains supply constrained and consumer balance sheets and home equity are healthy relative to past economic cycles.