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Tuesday, August 6, 2019

=ADT (ADT) reported earnings on Tue 6 Aug 2019 (a/h)

ADT misses by $0.18, beats on revs; raises FY19 revs guidance, still in-line with consensus

  • Reports Q2 (Jun) loss of $0.02 per share, $0.18 worse than the S&P Capital IQ Consensus of $0.16; revenues rose 13.5% year/year to $1.28 bln vs the $1.25 bln S&P Capital IQ Consensus.
  • Trailing twelve-month gross customer revenue attrition, excluding DIY, was 13.3%, compared to 13.5%, an improvement of approximately 20 basis points yr/yr.
  • Recurring monthly revenue grew by 4% in the quarter, of which 2% is due to Red Hawk, over the same period last year.
  • Co issues raises guidance for FY19, sees FY19 revs of $5.0-$5.15 bln vs. prior outlook of $4.9-$5.1 bln and vs. the $5.04 bln S&P Capital IQ Consensus. Slightly raises low end of Adj. EBITDA guidance range to $2.47-$2.50 bln from $2.46-$2.50 bln. Expects gross customer revenue attrition of 13.4-13.1% compared to prior outlook of 13.2-12.8%. 
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