Why ADI Global Distribution Stock Plunged This Week
ADI Global Distribution stock plummeted 46.4% in five trading sessions following a $659 million goodwill write-down and reduced profit guidance. Despite 9% revenue growth to $1.31 billion, the company faced margin compression due to a shift toward lower-margin national accounts and weakness in residential construction. The newly spun-off distributor is navigating higher freight costs and facility consolidation expenses while working toward $60 million in annualized cost savings.
