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.
Jim DeVries, ADT President and CEO, has joined the Board of Directors of ABM, a major integrated facility services provider. This appointment is expected to enhance ABM's leadership with DeVries' extensive experience in organizational transformation and strategic growth. At ADT, he is spearheading technological advancements and expanding the company's market into new sectors, including rooftop solar energy and mobile security. His insights will aid in guiding ABM's ELEVATE strategy for positive results.
ADT announces that President and CEO Jim DeVries will attend the Goldman Sachs 2022 Communacopia + Technology Conference on Sept. 12, 2022, in San Francisco. He will participate in a fireside chat starting at around 9:15 AM PST. Investors can access a live webcast and replay on the ADT investor relations website.
ADT is a leader in smart home and small business security solutions, providing innovative products and services across the U.S. to help protect what matters most.
ADT has announced a significant partnership with State Farm, which involves a $1.2 billion equity investment, acquiring approximately 15% of ADT at $9.00 per share. This collaboration aims to enhance smart home technology, focusing on mitigating risks associated with homeownership, such as water and fire damage. State Farm will also invest up to $300 million in product innovation. Additionally, Google will contribute $150 million to support sales programs aimed at broadening access to smart home solutions. ADT plans to initiate a self-tender offer to maintain share value amid this investment.
ADT announces a partnership with Uber to enhance user safety through the integration of ADT mobile safety solutions into the Uber app. This feature allows Uber users in the U.S. to receive real-time assistance from ADT's monitoring agents via phone or text during their rides. The 'Live Help from a Safety Agent' feature provides 24/7 support, including the ability to contact 911 with critical trip details. This partnership positions ADT as a trusted safety provider for gig economy workers and expands their market presence beyond home security.
ADT Inc. has announced significant leadership changes, appointing Jeff Likosar as President, Corporate Development and Chief Transformation Officer, a newly created role, after over five years as CFO. Ken Porpora, an ADT veteran of nearly 25 years, will step in as Executive Vice President and Chief Financial Officer. These changes aim to enhance corporate strategy, business development, and financial management following ADT's strategic long-term vision shared during the recent investor day.
ADT reported a strong second quarter of 2022 with total revenue of $1.6 billion, up 23% year-over-year, and an end-of-period recurring monthly revenue (RMR) of $369 million, a 5% increase. The company achieved record customer retention, with gross customer revenue attrition at 12.7%. GAAP net income reached $92 million, up from a loss of $126 million in the prior year. ADT reaffirmed its 2022 financial outlook, targeting total revenue between $6.2 billion and $6.4 billion.
ADT Inc. (NYSE: ADT) is set to release its second quarter 2022 financial results on August 4, 2022, before the market opens. Following the announcement, a conference call will be held at 10:00 a.m. ET to discuss the outcomes and engage in a Q&A session. Investors can access the live webcast via the investor relations website and participate by phone using designated numbers for domestic and international callers. An audio replay will be available for two weeks post-call.
ADT has launched ADT Virtual Assistance, enhancing flexibility for residential customers with remote video support for service needs. The program allows customers to schedule 30-minute appointments via their smartphones, providing guidance for adding or troubleshooting smart home devices without in-home visits. This initiative, currently serving over 4,000 customers daily, waives typical site assessment fees, aiming to reduce vehicle trips and greenhouse gas emissions significantly. ADT recorded 440,000 fewer trips, cutting emissions by 8,000 tons since the program began in 2021.
ADT announced the appointment of William M. Lewis Jr. to its board of directors, effective immediately, with his term expiring at the 2025 annual meeting. Lewis, a senior partner at Apollo, replaces Matthew Nord, who has retired. He brings extensive experience in financial advisory roles, including over 17 years at Lazard and 24 years at Morgan Stanley. The board welcomes his expertise as ADT looks to expand in the smart home and solar markets, which are positioned for significant growth.
ADT reported a strong first quarter of 2022, achieving 18% revenue growth to reach $1.5 billion and a GAAP net income of $52 million. The company also noted an end-of-period recurring monthly revenue (RMR) of $365 million, up 5% year-over-year, with a record customer retention rate and a gross customer revenue attrition of 12.9%. Key developments included the launch of the Google Doorbell, growth in ADT Solar, and an affirmed financial outlook for 2022, projecting total revenues between $6.2 billion and $6.4 billion.
