ADI Global Reports Q3 2026 Net Loss Due to $659 Million Goodwill Impairment
ADI Global (ADIG) reported third-quarter revenue of $1.306 billion, an 8.6% increase year-over-year driven by pricing and additional selling days. However, the company posted a significant net loss of $655 million, primarily due to a noncash goodwill impairment charge of $659 million triggered by declining market capitalization and weakness in the residential sector. While third-party product categories saw a 7% increase in average daily sales (ADS) driven by Datacom and Pro AV technology upgrades, Exclusive Brands experienced a 2% decline. Management noted that lower volumes in residential networking and automation products offset growth in wire products. The company is focusing on debt reduction and a cost savings program targeting $80 million in annualized savings by the end of 2027.
Topics: EBITDA financial results goodwill impairment gross margin net revenue