Electrical
Resideo Says ADI Spin-Off On Track for Late Summer, Gives 2Q26 Outlook
Resideo filed an amended Form 10 for its planned ADI Global Distribution spin-off and scheduled investor days for both standalone businesses. Here's the latest.
Resideo Technologies provided an update on its planned spin-off of ADI Global Distribution, including the filing of an amended Form 10 registration statement with the U.S. Securities and Exchange Commission.
The Scottsdale, AZ-based company said June 4 that the amended filing includes ADI financial statements for the three months ended April 4. Resideo said the planned separation of its Products & Solutions and ADI Global Distribution businesses remains expected to occur between mid-3Q26 and mid-4Q26 — presumably mid-August to mid-November.
Resideo also scheduled investor days for both businesses at the New York Stock Exchange. Resideo will host its event July 13, while ADI will host its event July 14. The company said both events will include management presentations, product showcases and Q&A sessions with executive management.
The update came a little more than three weeks after Resideo filed its initial Form 10 registration statement for the ADI separation. At that time, Resideo said ADI — a distributor of low-voltage, security, AV and smart building products — generated approximately $4.8 billion in fiscal 2025 revenue on a carveout basis.
Resideo reaffirmed its previously issued second-quarter and full-year 2026 financial outlook, including expectations for total 2Q26 net revenue of $1.916 billion to $1.940 billion and adjusted EBITDA of $216 million to $230 million. For full-year 2026, Resideo maintained its outlook for net revenue of $7.8 billion to $7.9 billion and adjusted EBITDA of $935 million to $985 million.
Ahead of the investor days, Resideo also issued segmented 2Q26 outlook ranges for Products & Solutions and ADI:
| 2Q26 Outlook ($ in millions) | P&S | ADI | Corporate | Total |
|---|---|---|---|---|
| Net Revenue | $673 – $681 | $1,243 – $1,259 | N/A | $1,916 – $1,940 |
| Non-GAAP Adjusted EBITDA | $163 – $175 | $81 – $87 | ($28) – ($32) | $216 – $230 |
Based on quarter-to-date performance, Resideo said it expects both P&S and ADI to be at or above the midpoint of their respective 2Q26 outlook ranges for net revenue and adjusted EBITDA.
For ADI, Resideo said the outlook reflects estimated low-single-digit average daily sales growth year-over-year and a low-single-digit decline in reported net revenue, partially due to one fewer selling day in the second quarter of 2026 compared with 2Q25.
