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ADT Inc. (NYSE:ADT) stock is trading lower on Thursday morning. The company reiterated guidance and reported earnings before the market opened.
The Details: For the 2024 fiscal second quarter, ADT reported revenue of $1.20 billion, representing a 3% year-over-year growth, missing analyst estimates of $1.21 billion and reported EPS of 17 cents inline with analyst estimates.
The company reported adjusted EBITDA from continuing operations at $629 million and adjusted income from continuing operations at $156 million.
ADT also reiterated its guidance for the 2024 fiscal year. The company sees revenue between $4.8 billion and $5.08 billion versus analyst estimates of $4.91 billion. In addition, ADT sees adjusted EPS between 65 cents and 75 cents versus analyst estimates of 69 cents.
“ADT delivered a solid first half with continued revenue growth momentum, as well as strong operating profitability and cash flow generation,” said ADT chairman, president and CEO,” Jim DeVries.
“With our streamlined focus on the consumer and small business markets, we continue to expand and improve our innovative offerings, unrivaled safety, and premium experience for security and smart home customers.”
See Also: Meta Platforms Stock Is Rallying Thursday: What’s Going On?
ADT Price Action: At the time of publication, ADT stock is trading 8.48% lower at $7.12, according to data from Benzinga Pro.
Image: Courtesy of ADT
Posted In: ADT
