Resideo Technologies, Inc.

Hello, everyone. Thank you for joining us and welcome to the Resideo first quarter 2026 earnings conference call. After today's prepared remarks, we will host a question and answer session. If you would like to ask a question, please press star one to raise your hand. To withdraw your question, press star one again. I will now hand the conference over to Chris Lee, Global Head of Strategic Finance. Please go ahead.

Thank you, and good afternoon, everyone. Thank you for joining us for Resideo's first quarter 2026 earnings call. On today's call is Jay Geldmacher, Resideo's Chief Executive Officer, Mike Carlett, Chief Financial Officer, Rob Arnas, President of Resideo's ADI Global Distribution Business, and Tom Saran, President of Residio's Products and Solutions business. We would like to remind you that this afternoon's call contains forward-looking statements. Statements other than historical facts made during this call may constitute forward-looking statements and are not guarantees of future performance or results and involve a number of risks and uncertainties. Actual results may differ materially from those in the forward-looking statements as a result of a number of factors, including those described from time to time in Residio's filings with the Securities and Exchange Commission. The company assumes no obligation to update any such forward-looking statements. We identify the principal risks and uncertainties that affect our performance in our annual report on Form 10-K and other SEC filings. In addition, we will discuss non-GAAP financial measures on today's call. These non-GAAP financial measures, which can sometimes be identified by the use of adjusted in the description of the measure, should be considered in addition to, not as a substitute for, or in isolation from, our GAAP results. A reconciliation of GAAP to non-GAAP financial measures is included in the financial data workbook, which is accessible on the investor relations page of our website at investor.residio.com. Unless stated otherwise, all numbers and results discussed in today's call, other than revenue, are on a non-GAAP basis. With that, I will now turn the call over to Jay.

Thank you, Chris, and thanks to everyone for joining us today. I'm very pleased with the continued execution demonstrated by the entire team. Resideo exceeded the high end of the first quarter outlook ranges for all metrics. Total net revenue grew 8% year over year to over $1.9 billion. Total adjusted EBITDA grew 20% year-over-year to 215 million. Total adjusted earnings per share grew 3% year-over-year to 65 cents. Our first quarter results reflect the solid health of our operating fundamentals. Our products and solutions segment reported 9% net revenue growth year-over-year, driven primarily by increases in both price and volume across most sales channels. Our ADI segment report 8% net revenue growth year over year, primarily from strength in our security business, partially offset by declines in our residential AV business. The strength of our combined operations, coupled with the elimination of the indemnification agreement, result in strong bottom line results. Residio's execution continues to be steady in an uncertain global macroeconomic environment, and with end markets still soft. I'd like to make two important points on recent macro events that are relevant to Resideo. First, on inflationary cost dynamics, we have largely absorbed cost inflation, primarily related to higher costs for freight in our reported first quarter results. We intend to raise prices later in the second quarter to combat increasing costs. There is broad understanding from our customers for the need to share the inflationary pressures, and we expect to work collaboratively with our customers as we have historically. Second, on the impact of cost inflation on customer behavior, macroeconomic conditions have generally had an impact on consumer confidence and affordability. While the high-end residential audiovisual market has been softening, Resideo remains well-positioned with its existing products, its upcoming new product introductions, and its exceptional distribution footprint to take advantage of the markets we serve. Notwithstanding these macroeconomic conditions, as a result of our outperformance in the first quarter and other actions we are taking, Resideo is reaffirming its 2026 outlook. We believe our solid execution and proactive mitigation tactics will enable Resideo to manage through the uncertain environment for the rest of the year. Mike will speak more about this in his comments. Before I hand over the call to Tom to discuss the performance of the products and solutions business segment, let me give you an update on our separation activities. We've achieved key milestones in our business separation process. including yesterday's public filing of ADI's form 10. I'm very pleased with the high caliber management team and board of directors that ADI will have as a standalone company, which is a testament to Rob and the entire ADI team for the business they have built. And for Resideo, Tom has built a world-class team within products and solutions that will carry the business forward. We have accomplished a tremendous amount of work to get us to this point. And we have done so while continuing our strong business execution, including providing high-level products and services to our customers. Additional details will be shared at a later date, but we plan to hold Investor Day events for Resideo and ADI in New York during mid-July, where we will introduce the full leadership teams and discuss each company's go-forward business strategy and value creation model. As we noted in our announcement yesterday, we expect the spinoff to be complete between the middle of the third quarter and the middle of the fourth quarter. I'm very pleased with the focus, discipline, dedication, and leadership demonstrated in the first quarter by the entire team. Now, let me hand the call over to Tom.