ADT REPORTS SECOND QUARTER 2019 RESULTS
Total revenue growth accelerates to 13%
Organic revenue growth from ADT Commercial of 19%
Over 100,000 Command and Control installs; interactive take rate climbs to over 80%
Updating full-year guidance
BOCA RATON, FL – August 6, 2019 – ADT Inc. (NYSE: ADT), a leading provider of monitored security and interactive home and business automation solutions in the United States and Canada, today reported the results for its second quarter of 2019.
SECOND QUARTER 2019 HIGHLIGHTS COMPARED TO PRIOR YEAR(1)
•Total revenue of $1,284 million, up 13%
•Net loss of $104 million, compared to net loss of $67 million
•Year to date net cash provided by operating activities of $979 million, compared to $963 million
•Year to date net cash used in investing activities of $788 million, compared to $696 million
•Year to date net cash used in financing activities of $515 million, compared to net cash provided of $705 million
•Adjusted EBITDA of $630 million, compared to $610 million
•Year to date Free Cash Flow before special items of $292 million, compared to $310 million
•Trailing twelve-month revenue payback of 2.4 years
•Trailing twelve-month gross customer revenue attrition of 13.3%, compared to 13.5%(2)
"We generated strong revenue growth ahead of our expectations during the second quarter, with a solid performance from residential and commercial," stated Jim DeVries, ADT's President and CEO. "Commercial total revenue expanded 19% on an organic basis and revenue from business customers now accounts for more than 25% of our total revenues. On the residential side, following our recent launch of Command and Control, we've installed over 100,000 new panels leading to a record interactive adoption rate of over 80% and higher average revenue for our monitored security and home automation customers. We're confident that our sharp focus on the fundamentals of our business, combined with our numerous exciting strategic initiatives, will help us leverage the trusted ADT brand to further grow the business and enhance shareholder value over the long-term."
The following information was filed by Adt Inc. (ADT) on Tuesday, August 6, 2019 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-Q Quarterly Report statement of earnings and operation as management may choose to highlight particular information in the press release.