Resideo Q1 Revenue $1.91B Up 8% with Net Income of $38M

Resideo reported net revenue of $1,912 million in Q1 2026, up 8% from $1,770 million a year earlier and above the high end of its guidance. Gross margin was 28.8%, net income reached $38 million versus $6 million in Q1 2025, adjusted EBITDA climbed 28% to $215 million, GAAP EPS was $0.17 and adjusted EPS $0.65, up 3%. Operating cash used increased to $145 million from $65 million.

The P&S segment generated $706 million in revenue, a 9% increase year-over-year driven by price realization in OEM and security channels and strong new product demand. Gross margin rose 40 basis points to 41.8%, while income from operations dipped to $128 million from $136 million due to a $18 million litigation settlement and $7 million in restructuring expenses. Adjusted EBITDA grew 12% to $177 million, reflecting structural operating efficiencies.

ADI division posted $1,206 million in net revenue, up 8% year-over-year with average daily sales growth of 1% and four extra sales days. Gross margin narrowed by 40 basis points to 21.2% due to higher freight costs and mix shifts. Income from operations remained $34 million, and adjusted EBITDA fell to $66 million from $72 million, while e-commerce revenue rose 12% and Exclusive Brands grew 7%.

Resideo’s CEO highlighted that all financial metrics exceeded the high end of guidance, attributing success to operational discipline and strong team performance. Management noted progress on key separation milestones and reaffirmed plans to complete the ADI spin-off later this year, positioning both businesses for independent growth trajectories.