Resideo Technologies Inc. (REZI) , the Honeywell International Inc. (HON) spin-off, rose in extended trading on Tuesday, Nov. 13, after the household comfort and security solutions company topped third-quarter expectations and said it expects full-year revenue and Ebitda to come in at the top end of the range it earlier anticipated.

The Austin, Texas-based company reported net income of $311 million, or $2.53 on a per share basis. Adjusted net income rose 42% from the same quarter a year prior to $88 million, or 72 cents a share, which handily topped forecasts calling for 26 cents a share, according to FactSet. Adjusted Ebitda, including environmental indemnification payments, came out to $117 million; excluding indemnification, it came out to $152 million.

Revenue of $1.2 billion was up 4% compared with the same quarter a year ago, and narrowly beat expectations of $1.19 billion, according to FactSet. Organic sales rose about 5%, with the difference between reported and organic sales primarily relating to the effects of foreign currency translation.

The Products division sales rose 1% year over year to $526 million, while the Distribution business reported a 6% increase year over year to $674 million.

This marked the first earnings announcement since Resideo began trading as a standalone company under Chief Executive Officer Mike Nefkens.

"Our performance as part of Honeywell over the past three years demonstrates a well-run business that is on track to deliver continued growth in 2018 and beyond," Nefkens said in a statement.

The company reaffirmed its full-year 2018 and 2019 guidance, and Nefkens told TheStreet in a phone interview that he expects revenue and Ebitda to come in at the top end of the range.

Resideo anticipates full-year net sales between $4.77 billion and $4.83 billion, with adjusted EBITDA between $605 million and $615 million.

The company is also aggressively moving forward with partnerships and looking at bolt-on acquisitions, Nefkens told TheStreet.

The company expanded its partnerships during the quarter through agreements with Scottish Power, Innogy, Crius Energy and Chamberlain, the maker of garage door openers and accessories.

"We are definitely moving in the partnership area and making the ecosystem more robust," Nefkens said in an interview.

Resideo, which is comprised of Honeywell's former Homes and ADI Global Distribution business, began trading as a standalone company on the New York Stock Exchange on Oct. 30. Since then, the stock has fallen about 16.7%, as many Honeywell investors who were given shares as part of the spin-off exited. Resideo provided comparisons with last year's results, broken out from when it was still under Honeywell.

But Nefkens said Resideo is "weathering through" the stock movements, and, in fact, he likes the recent trading volume, which has been "a bit higher," meaning there's demand.

"We think it's a great buy right now," Nefkens said.

Shares of Resideo rose 3.4% to $21.98 in extended trading. The stock closed at $21.26, down about 0.5%.

The company will host a conference call to discuss the results on Wednesday, Nov. 14, at 8:30 a.m. New York time.

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