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    Chan Park

    Research Analyst at Evercore ISI

    Chan Park is an Equity Research Analyst at Evercore ISI, focusing on investment research in the industrials and building technologies sectors. He covers companies such as Resideo Technologies and is actively involved in providing company-specific insights reflected in corporate earnings calls. Park's career includes previous roles as an analyst at Millennium Management Global Investment, building a foundation in investment banking before joining Evercore ISI. He maintains industry-standard professional credentials, including FINRA securities licenses, and contributes to Evercore ISI's reputation for delivering top-ranked, high-quality research recognized by industry surveys.

    Chan Park's questions to RESIDEO TECHNOLOGIES (REZI) leadership

    Chan Park's questions to RESIDEO TECHNOLOGIES (REZI) leadership • Q3 2024

    Question

    Chan Park of Evercore ISI questioned the higher-than-expected SG&A expenses in the quarter and the future cadence of OpEx. He also asked for an outlook on 2025 gross margins, given the expected slowdown in Products and Solutions margin expansion and pricing headwinds at ADI.

    Answer

    CFO Mike Carlet explained that Q3 SG&A was slightly inflated by single-digit millions due to onetime, non-systemic events and should normalize going forward. Regarding 2025 margins, Carlet stated that while official guidance is not yet available, the company remains positive about future gross margin accretion opportunities in the Products and Solutions segment, particularly driven by new product introductions.

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