ADT Inc - ADT STOCK NEWS

ADT Inc. held an investor day event on March 2, 2022, outlining a long-term strategy aimed at significant shareholder value creation. The company targets $10 billion in total revenue, $3 billion in adjusted EBITDA, and $1 billion in debt reduction by 2025. ADT plans to enhance its offerings through the next-generation smart home platform, improve safety measures, and modernize customer experience. With an evolved mission of being Safe, Smart, Sustainable, ADT aims for double-digit growth and emphasizes its commitment to ESG principles.

ADT reported strong year-end 2021 results, with total revenue of $5.3 billion and a 5% increase in recurring monthly revenue (RMR) to $359 million. The fourth quarter net loss narrowed to $58 million, driven by a solid subscriber base of 6.6 million. The company expanded into the residential solar market with the acquisition of Sunpro and launched innovative products like the Google Nest Doorbell. Looking ahead, ADT expects 2022 total revenue of $6.2 billion to $6.4 billion, with adjusted EBITDA projected between $2.335 billion and $2.435 billion. A cash dividend of $0.035 per share was declared.

BigID has appointed Sigal Zarmi, an accomplished financial services executive, to its Board of Advisors. Zarmi's extensive experience includes leadership roles at Morgan Stanley and GE Capital, and she currently serves on the boards of ADT and Hashicorp. Her insights into digital transformation and technology operations are expected to enhance BigID's strategic direction. CEO Dimitri Sirota emphasized her innovative thinking as a critical asset for the company's growth. BigID is recognized for its data intelligence solutions that improve data governance and security.

ADT Inc. (NYSE: ADT) will host a virtual investor day on March 1, 2022, at 9 a.m. EST. The event will include a presentation by CEO Jim DeVries and senior leaders discussing the company's long-term strategy, followed by a Q&A session. Additionally, ADT will release its fourth-quarter and full-year 2021 financial results on the same morning. Details for registration will be available on the ADT investor relations website. A live webcast will also be provided, including a replay post-event.

Ford and ADT have launched a joint venture called Canopy, focused on enhancing vehicle security through AI-powered cameras and monitoring solutions. The initial products will debut in early 2023, targeting high-volume commercial trucks and vans in the U.S. and U.K. Canopy aims to protect valuable equipment in vehicles, addressing the growing theft problem that cost U.S. businesses over $7.4 billion in 2020. Integration with Ford vehicles and potential partnerships with other manufacturers are also planned.

Ford (NYSE:F) and ADT Inc. (NYSE:ADT) have launched Canopy, an AI-powered vehicle security system targeting both personal and commercial markets. The system integrates ADT’s monitoring services with Ford’s camera technology. Canopy's first products are set to launch early next year, focusing on security for high-volume commercial trucks and vans in the U.S. and U.K. Canopy aims to reduce theft losses—estimated at $7.4 billion in 2020—by offering customizable alerts and a mobile app for users to monitor their vehicles remotely.

Tortoise Properties, LLC has acquired over 2 acres in downtown West Palm Beach for a Class A+ mixed-use development featuring 264 luxury apartments and lifestyle retail. This property is strategically located on the 40-acre NORA redevelopment corridor. The acquisition complements Tortoise Properties’ portfolio, which includes significant assets like the fully leased 172,000-square-foot office campus in Boca Raton. CEO James D. Geleerd highlighted the growing demand for rental housing in the area, citing its favorable business conditions and population growth.

MGG Investment Group LP has successfully completed the sale of Sunpro Solar, the largest rooftop solar provider in the Southeastern United States, to ADT Inc. for $825 million. MGG previously supported Sunpro through a first-lien term loan and a cash equity investment. MGG’s CEO emphasized the investment reflects their strategy of partnering with growth-focused management teams and advancing sustainability. Sunpro's CEO expressed gratitude for MGG's support in their growth journey and looks forward to partnering with ADT to enhance renewable energy solutions for customers nationwide.

ADT Inc. has completed its acquisition of Sunpro Solar, marking its entry into the rapidly growing residential solar market. The newly formed ADT Solar will deliver rooftop solar and energy storage solutions across 22 states, with plans for further expansion. This strategic move aims to enhance customer value by combining smart home security with sustainable energy solutions. ADT expects to leverage its existing customer base, with a significant portion expressing interest in solar products, to drive organic growth. Marc Jones, Sunpro's founder, will lead ADT Solar.