Resideo to pay $1.59B to Honeywell to end indemnification; plans ADI spin-off; Q2 above high end

RESIDEO TECHNOLOGIES, INC.

One-time payment of $1.59B to Honeywell in Q3 2025 ends all future indemnification obligations, eliminating up to $140M annual payments through 2043.
Announces intention to spin-off ADI Global Distribution as tax-free transaction to shareholders, expected to close H2 2026.
CEO Jay Geldmacher to retire upon spin-off completion; Tom Surran (P&S) and Rob Aarnes (ADI) to lead respective companies.
Expects Q2 2025 revenue, adj. EBITDA, and adj. EPS above previously provided outlook ranges ($1.805-$1.855B, $175-$195M, $0.51-$0.61).
Financing via $1.225B new term loan facility from JPMorgan and Wells Fargo plus ~$400M cash on hand.

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