ADT Q2 net income $92M, announces $1.6B commercial divestiture, cuts revenue guidance

ADT Inc.

Total revenue $1.6B; GAAP net income $92M ($0.10 diluted EPS); adjusted EPS $0.16, up from $0.06 YoY.
Record RMR of $382M (+4% YoY); gross revenue attrition 12.5%, a record low; revenue payback improved to 1.9 years.
Agreed to divest Commercial business for $1.6B; net proceeds for debt reduction; expected close Q4 2023.
Dividend of $0.035/share declared, payable Oct 4, 2023 to record Sep 15, 2023.
Updated FY 2023 revenue guidance to $6.3-6.5B from $6.6-6.85B; maintains Adj EBITDA, EPS, FCF guidance.

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 0.9

ADT Inc. reported the second quarter of 2023 results: revenue $1.6 billion, net income $92 million, EPS $0.10 per diluted share. Guidance reaffirmed.

Period: the second quarter of 2023
Revenue: $1.6 billion
Net income: $92 million
EPS: $0.10 per diluted share
Guidance: reaffirmed
Result: reported results

Exact text from the filing

Total revenue of $1.6 billion with end-of-period recurring monthly revenue (RMR) up 4% or $382 million

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Source: SEC EDGAR

accession 0001703056-23-000155

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