Q2'25 Financial Highlights - Resideo achieved record high net revenue of $1.94 billion, a 22% year-over-year increase[11] - Adjusted EBITDA reached $210 million, up 20% year-over-year[11] - Adjusted EPS was $0.66, a 6% increase compared to the previous year[11] - Cash provided by operating activities totaled $200 million, driven by strong sales and collections[11] Segment Performance - Products & Solutions (P&S) revenue was $666 million, a 6% year-over-year increase[14] - P&S Adjusted EBITDA was $167 million, up 7% year-over-year[14] - ADI Global Distribution revenue reached $1.277 billion, a 33% year-over-year increase[14] - ADI Adjusted EBITDA was $107 million, a 39% increase compared to the previous year[14] Strategic Initiatives - Resideo entered into an agreement with Honeywell to terminate the Indemnification and Reimbursement Agreement, incurring an $882 million expense in Q2'25[12,14] - A one-time cash payment of $1.59 billion will be made to Honeywell in Q3 2025 to eliminate future obligations under the Indemnification Agreement[63] - Resideo is planning to separate into two independent companies to enhance strategic alignment and shareholder value[61,63] Outlook - Resideo raised its 2025 outlook, projecting total net revenue between $7.45 billion and $7.55 billion[47] - Adjusted EBITDA for 2025 is expected to be in the range of $845 million to $885 million[47] - Adjusted EPS for 2025 is projected to be between $2.75 and $2.87[47]