Workflow
ADT Reports Fourth Quarter and Full Year 2024 Results
ADTADT(ADT) GlobeNewswire·2025-02-27 11:55

Core Insights - ADT Inc. reported strong financial performance for 2024, with GAAP EPS increasing by 40% and adjusted EPS rising by 25% [1][4][6] - The company achieved record recurring monthly revenue and customer retention, with a gross revenue attrition rate of 12.7% [1][6] - ADT plans to maintain momentum into 2025, supported by a new 500millionsharerepurchaseplan[1][4]FinancialPerformance−Totalrevenuefor2024increasedby8500 million share repurchase plan [1][4] Financial Performance - Total revenue for 2024 increased by 8% to 1.3 billion, with end-of-period recurring monthly revenue rising by 2% to 359million[6][12]−GAAPincomefromcontinuingoperationsforthefourthquarterwas359 million [6][12] - GAAP income from continuing operations for the fourth quarter was 197 million, or 0.21perdilutedshare,upfrom0.21 per diluted share, up from 107 million in the previous year [6][13] - Adjusted income from continuing operations for the full year was 685million,or685 million, or 0.75 per diluted share, reflecting a 25% increase [14] Cash Flow and Shareholder Returns - Net cash provided by operating activities for the full year was 1.885billion,up141.885 billion, up 14% year-over-year [16] - Adjusted Free Cash Flow, including interest rate swaps, increased by 42% to 744 million [6][12] - The company returned 423milliontoshareholdersthroughdividendsandsharerepurchasesin2024[18][19]BusinessHighlights−ADTlauncheditsproprietaryADT+platform,enhancingcustomerofferingsandintegratingwithGoogleNestdevices[7][11]−TheADTRemoteAssistanceprogramachievedhighcustomersatisfaction,withover50423 million to shareholders through dividends and share repurchases in 2024 [18][19] Business Highlights - ADT launched its proprietary ADT+ platform, enhancing customer offerings and integrating with Google Nest devices [7][11] - The ADT Remote Assistance program achieved high customer satisfaction, with over 50% of service requests being virtual in Q4 2024 [7] - ADT's Trusted Neighbor service was recognized as "Home Security Innovation of the Year" at the IoT Breakthrough Awards [11] 2025 Financial Outlook - The company provided guidance for 2025, projecting total revenue between 5.025 billion and 5.225billion,withadjustedEBITDAexpectedtobebetween5.225 billion, with adjusted EBITDA expected to be between 2.650 billion and 2.750billion[22][23]−AdjustedEPSisforecastedtobeintherangeof2.750 billion [22][23] - Adjusted EPS is forecasted to be in the range of 0.77 to 0.85,andadjustedfreecashflowisexpectedtobebetween0.85, and adjusted free cash flow is expected to be between 800 million and $900 million [23][24]