Recent Updates — ADIG

ADI Global Distribution Inc. announced second quarter 2026 financial results for the period ended July 4, 2026, reporting record net revenue of $1,286 million, a 1% increase year-over-year despite one fewer sales day. Net income turned positive at $6 million compared to a $283 million loss in the prior year, driven by tariff refunds of approximately $20 million and improved gross margins of 22.7%. Adjusted EBITDA decreased 9% to $86 million (6.7% margin). The company initiated its standalone full-year 2026 outlook, projecting net revenue between $4,950 million and $5,000 million and Adjusted Standalone EBITDA between $275 million and $295 million. ADI Global Distribution Inc. operates as a leading global specialty distributor of professionally installed low-voltage products.

ADI Global Distribution Inc. completed its separation from Resideo Technologies, Inc., becoming an independent public company trading on the NYSE under the symbol "ADIG" on August 3, 2026. The distribution was executed at a ratio of one ADI share for every two shares of Resideo common stock held as of the July 20, 2026 record date. To fund the transaction, ADI issued $400 million in 7.125% Senior Notes due 2034 and drew down a $600 million term loan facility. These proceeds were used to pay a one-time cash dividend of $900 million to Resideo as partial consideration for contributed assets and liabilities, alongside other transaction expenses. ADI also issued 150,000 shares of Series A Cumulative Convertible Participating Preferred Stock to Clayton, Dubilier & Rice affiliates in exchange for Resideo preferred stock. The company appointed an eight-member board of directors, including Robert Aarnes as CEO, and established a new capital structure with approximately $1 billion in debt financing. ADI Global Distribution Inc. operates as a global specialty distributor of professionally installed low-voltage products, including security and audio-visual solutions.