Here's Why Resideo Technologies Stock Crashed 15% Today

Shares in residential and commercial sensing and controls company Resideo Technologies (NYSE: REZI) slumped by 15.5% by 11:30 a.m. today. The move comes due to the company's earnings report, and more pertinently, its second-quarter guidance and management's commentary on evolving market conditions. Despite beating market expectations for the first quarter and reaffirming its 2026 outlook, the market focused on the lower-than-anticipated second quarter guidance and the pressures on profit margins coming from rising freight and fuel costs, and CEO Jay Geldmacher noting that "the high-end residential audio visual market has been softening."The margin pressures from fuel and freight costs aren't surprising in an environment where the ongoing closure of the Strait of Hormuz has sent oil prices gushing higher and impacted shipping costs due to diversions caused by the inability to ship through the Strait.Continue readingWeiter zum vollständigen Artikel bei MotleyFool Weiter zum vollständigen Artikel bei MotleyFool