Quarterly ResultMay 12, 2026, 05:07 PM
Resideo Q1 Net Income $38M, EPS $0.17; ADI Spin-Off Progresses
AI Summary
Resideo Technologies reported a significant increase in net income and EPS for the first quarter of 2026, primarily driven by higher net revenue and the absence of Indemnification Agreement expense compared to the prior year. The company continues to progress with the planned tax-free spin-off of its ADI Global Distribution segment, incurring $24 million in business separation costs. Despite overall revenue growth, income from operations decreased, and net cash used in operating activities increased.
Key Highlights
- Net income increased to $38 million for Q1 2026 from $6 million YoY.
- Diluted EPS improved to $0.17 for Q1 2026 from $(0.02) YoY.
- Net revenue grew to $1,912 million for Q1 2026 from $1,770 million YoY.
- No Indemnification Agreement expense in Q1 2026 vs. $90 million in Q1 2025.
- Business separation costs for the ADI Spin-Off were $24 million in Q1 2026.
- Products and Solutions segment revenue rose to $706 million.
- ADI Global Distribution segment revenue increased to $1,206 million.
- Net cash used in operating activities was $(145) million for Q1 2026.
Price Impact
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