Welcome to our dedicated page for ADT news (Ticker: ADT), a resource for investors and traders seeking the latest updates and insights on ADT stock.
ADT Inc (ADT) provides comprehensive security solutions and smart home automation services across residential and commercial markets. This news hub offers investors and stakeholders centralized access to official corporate updates, financial disclosures, and strategic developments.
Our curated collection features ADT's press releases covering product innovations, partnership announcements, quarterly earnings reports, and operational milestones. Users will find timely updates on security technology advancements, service expansions, and leadership changes affecting the company's market position.
The repository includes essential documentation such as SEC filings, investor presentations, and corporate responsibility initiatives. Regular updates ensure access to ADT's latest developments in intrusion detection systems, video surveillance enhancements, and smart home integration capabilities.
Bookmark this page for streamlined tracking of ADT's progress in delivering reliable security solutions while maintaining technological leadership. Check back frequently for verified updates directly impacting the company's performance in the evolving smart home sector.
ADT Inc. reported robust financial growth for 2022, with total revenue rising 21% to $6.4 billion and fourth-quarter revenue at $1.6 billion, up 19%. The company achieved record customer retention, with gross revenue attrition at a low of 12.5% and a revenue payback period of 2.1 years. GAAP net income reached $173 million for the year, a significant turnaround from a loss the previous year. The company anticipates continued growth in 2023, projecting revenue between $6.6 billion and $6.85 billion, alongside a strong partnership with State Farm and innovations in smart home technology, including its ADT+ app. Overall, ADT is positioned for sustained success moving forward.
ADT Inc. (NYSE: ADT) will announce its fourth quarter and full year 2022 financial results on February 28, 2023, before market opening. Following the announcement, a conference call will occur at 10:00 a.m. ET for management to discuss the results and engage in a Q&A session. Investors can access the live webcast via the investor relations website or join by phone. An audio replay will be available for two weeks post-call. ADT offers innovative security and smart home solutions, aiming to empower clients to protect their assets.
ADT has appointed Wayne Thorsen as Executive Vice President and Chief Business Officer, effective immediately. Thorsen will lead product innovation and new business development efforts. ADT’s President and CEO, Jim DeVries, emphasized Thorsen's extensive experience in strategic partnerships and product marketing, which is expected to boost the company's growth strategy. Previously, Thorsen held leadership roles at Google, SoFi, and Microsoft. ADT focuses on providing innovative and sustainable security solutions for homes and businesses, leveraging partnerships with brands like State Farm and Google.
ADT introduced innovative safety solutions at CES 2023, highlighting its commitment to connect and protect customers in various environments. The new ADT+ app, available in February, allows users to manage and control their security devices seamlessly. The company showcased its focus on sustainability with ADT Solar, integrating solar technology into smart homes. Moreover, ADT Commercial unveiled the EvoGuard brand, featuring intelligent security solutions. Partnerships with industry leaders like Google, Uber, and Lyft enhance ADT's mobile safety offerings.
On December 16, 2022, ADT announced the appointment of Jamie Haenggi as the new leader of ADT Solar. Previously serving as executive vice president and COO, she will oversee all division functions. Marc Jones, founder of Sunpro, now acts as a senior advisor to Haenggi. Haenggi, with ADT since 2016, brings extensive experience in sales, marketing, and customer experience. ADT Solar aims to become the leading residential solar company in the U.S., providing integrated rooftop solar solutions across 23 states.
ADT Inc. reported strong Q3 2022 results with total revenue reaching $1.6 billion, a 22% increase year-over-year. Key highlights include a 4% rise in Recurring Monthly Revenue (RMR) to $372 million and record customer retention with a gross attrition rate of 12.6%. Adjusted net income stood at $83 million, equivalent to $0.10 per diluted share. The company reaffirmed its financial outlook for 2022, targeting total revenue between $6.2 billion and $6.4 billion. ADT's partnership with State Farm and Google continues to drive innovation and growth.
ADT Inc. (NYSE: ADT) has completed a tender offer to purchase up to 133,333,333 shares of its common stock at a price of $9.00 per share, totaling approximately $1.2 billion. The tender offer, which expired on October 20, 2022, was oversubscribed, with 732,113,312 shares validly tendered. ADT accepted shares on a pro rata basis, resulting in a proration factor of 18.17%. Post-tender offer, ADT's majority shareholder, Apollo Global Management, will own about 55% of the company, with State Farm at 15% and Google at 6% ownership stakes.
ADT announced the results of its tender offer to buy back up to 133,333,333 shares of common stock at a price of $9.00 per share, totaling $1.2 billion. The offer expired on October 20, 2022, with 734,165,376 shares validly tendered. Due to oversubscription, shares will be purchased on a pro rata basis with a preliminary proration factor of 18.16%. Despite this offer, the number of issued and outstanding shares remains unchanged after a prior investment from State Farm.
ADT will announce its third quarter 2022 financial results on November 3, 2022, prior to market opening. Management will conduct a conference call at 10:00 a.m. ET to discuss these results and answer questions. Participants can join via a live webcast on the investor relations website, with a replay available within 24 hours. Call-in options are also provided for those not using the webcast, with audio replay available for two weeks post-call.
ADT specializes in smart and sustainable solutions for homes and businesses, emphasizing security and connectivity.
ADT Inc. announced a significant partnership with State Farm, which involves the sale of 133.3 million shares for $1.2 billion and a $300 million opportunity fund for joint innovation. This collaboration aims to enhance the customer experience and revolutionize home security and smart home technology. State Farm's COO, Paul Smith, has joined ADT's Board of Directors, indicating a long-term strategic commitment. Additionally, ADT plans to use the proceeds from the investment to repurchase shares in a tender offer, expiring on October 20, 2022.
