Earnings Releases·Nov 12, 2026, 7:15 AM ET

ADI Global Distribution Inc. — Third Quarter 2026 Earnings Summary

Net revenue rose 8.6% year-over-year to $1,306 million, but the quarter reported a $655 million net loss driven by a $659 million non-cash goodwill impairment charge, contrasting with a $26 million net income in the prior-year period.
Full-year 2026 guidance was lowered to $4,910–$4,930 million in net revenue and $230–$240 million in Non-GAAP Adjusted Standalone EBITDA, reflecting continued weakness in the U.S. residential market and Exclusive Brands product lines.
Gross margin contracted to 20.9% (down 170 basis points year-over-year) due to unfavorable customer and product mix, while Adjusted Standalone EBITDA fell 13% to $66 million.
Management expects to exit 2026 with $60 million in annualized cost savings and aims for an $80 million run-rate objective by end-2027, alongside a "One ADI" transformation to simplify operations.
Balance sheet strength remains with $208 million in cash equivalents and long-term debt reduced to $980 million, supported by a $500 million undrawn revolving credit facility.