Subscriber Discussion
Delays Getting Paid By ADI, Anyone Else Experiences That?
We are a manufacturer that sell to few distributors most of they pay right on time, recently ADI started to act weird by not paying on time, delaying days and weeks over the due date.
Anyone else experiences that? Anyone knows of a cash flow problem they are experiencing?
You evidently are not the first, see this discussion from last month - Is ADI Not Paying Their Suppliers Since COVID-19?
I double checked, the poster of last month's is different from UM1 here.
Hi - i was the one that posted last month. ADI is playing working capital games with their suppliers. They were more than a month late on payments of many hundreds of thousands, using stalling tactics (« sorry, we’ll have to check, please send the invoice once more, blah, blah, blah ») not to pay. They finally paid after we escalated the issue and threatened to simply stop shipments and advise their sales people and branch management of the reason why orders weren’t being fulfilled. This month they are late once again- we will have to start escalating once more at the end of the week.
ADI is the only distributor showing such a lack of respect for their suppliers. Anixter and others have been paying on time.
Resideo, ADI's parent released their Q1 2020 financials today. ADI doing ok but the Honeywell Home side still hurting:
Consolidated revenue decreased 3% year-over-year on a GAAP basis and 2% year-over-year on a constant currency basis. On a GAAP basis, ADI Global Distribution revenue increased 6% while Products & Solutions revenue decreased 14%.
Stock has slide steeply over past year:
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