ADT Q3 continuing ops loss $21M; CSB RMR record $350M; solar restructured; commercial sale closed

ADT Inc.

GAAP loss from continuing ops $21M ($0.02/diluted share) vs loss $169M YoY; adjusted EPS $0.08 vs $0.09.
CSB revenue $1.18B (+6% YoY); RMR record $350M (+3%); gross attrition flat at 12.9%; revenue payback 2.0 years.
Solar revenue $58M (-68%); Adjusted EBITDA loss $41M; restructuring to 16 branches targeting >$80M annual cost savings.
Completed commercial divestiture for ~$1.6B; refinanced $1.4B debt to 2030 at 35bps lower cost; Moody's upgrade to Ba3.
Dividend $0.035/sh declared, record Dec 14, payable Jan 9, 2024; updated FY guidance: revenue $4.95-5.15B, adj. EBITDA $2.35-2.4B, adj. EPS $0.40-0.45.

item 2.02 item 7.01 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

ADT Inc. reported the third quarter of 2023 results: revenue $1.2 billion, EPS $(0.02) per diluted share.

Period: the third quarter of 2023
Revenue: $1.2 billion
EPS: $(0.02) per diluted share
Result: reported results

Exact text from the filing

with continuing operations GAAP presentation following the sale of the commercial business. Variances are on a year-over-year basis unless otherwise noted. • Total revenue of $1.2 billion with end-of-period recurring monthly revenue (RMR) up 3% to $350 million • High customer retention with gross revenue attrition maintaining 12.9% • Record revenue payback of 2.0

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Source: SEC EDGAR

accession 0001703056-23-000185

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