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Resideo Technologies’ $900 Million Debt Paydown Unlocks Value After the ADI Spin-Off!

Resideo Technologies, following the completion of its ADI Global Distribution spin-off in August 2026, reported second quarter consolidated revenue of nearly $2 billion, representing a 2% year-over-year increase and establishing a new quarterly record. Adjusted EBITDA grew 19% to $249 million, and adjusted earnings per share rose 26% to $0.83 on a non-GAAP basis. The company attributes strong performance to effective operational execution, tariff refunds primarily benefiting the ADI segment, and broad-based revenue growth across its Products & Solutions (P&S) segment despite soft macroeconomic conditions impacting the residential housing market. The P&S segment demonstrated resilience with 4% year-over-year revenue growth driven by volume gains across most sales channels, including retail, OEM combustion, HVAC distribution, and electrical distribution. Notably, the HVAC channel returned to growth led by adoption of higher-value smart thermostats and new water filtration and dehumidification products.