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Tag: ADT


ADT volunteers with Rebuilding Together

Residential

ADT volunteers with Rebuilding Together

February 14, 2024SSN Staff

LAS VEGAS – During Super Bowl weekend, volunteers from ADT participated in Kickoff to Rebuild, an annual event led by inspiring non-profit Rebuilding Together to provide essential home repairs for six families and community improvements in a Las Vegas-area neighborhood.  On Friday, Feb. 9, Cincinnati Bengals running back Chase Brown joined nearly 200 volunteers to help revitalize the community as part of Kickoff to Rebuild, an annual Super Bowl-sanctioned event. "At Rebuilding...

ADT, Caroline Blakely, Darienne Page, Kickoff to Rebuild, Lowe’s, Rebuilding Together


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Resideo uses 2023 momentum to pivot in first earnings report of 2024

Residential

Resideo uses 2023 momentum to pivot in 2024

February 14, 2024Ken Showers, Managing Editor

SCOTTSDALE, Ariz. – Resideo Technologies exited 2023 with a strong Q4, and now it's riding that momentum into 2024, making some significant changes to reshape its portfolio and operations. Among the highlights for the year, Resideo saw revenue of $6.2 billion for 2023, an adjusted EBITDA of $552 million, and $440 million in cash from operations. Its report noted that the company improved business execution in the second half of the year with products and solutions transformation...

2023, 2024, ADT, Fourth Quarter (Q4), Genesis Cable, Jay Geldmacher, Resideo Technologies, Tony Trunzo


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Monitoring Matters

Cupid de Locke

February 14, 2024Ken Showers, Managing Editor

It’s Valentine's Day and I’d love to mention that I have a sweetheart of a topic to share this week, but I’m sorry to say it’s left me a little brokenhearted. Since the beginning of February, I’ve been watching a lot of Q4 2023 reports roll out and while we can still safely call it the year of AI, it’s also the year of the residential security market falling flat on its face. I talked about this a bit in my last blog post where I discussed ADT...

ADT, Assa Abloy, Jay Geldmacher, Residential Security, Resideo


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ADT exits residential solar market

Residential

ADT exits residential solar market

February 5, 2024SSN Staff

BOCA RATON, Fla. – ADT revealed late in January that the company would be exiting its residential solar business. The company said it will remain focused on cash flow generation and capital-efficient growth within its core security and smart home business. As part of this continued focus, ADT is also advancing its capital allocation strategy, including a cash dividend increase and authorization of a new share repurchase program. “The decision to exit solar operations was made after...

2023, ADT, ADT Solar, Fourth Quarter (Q4), Jim DeVries, Residential


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Monitoring Matters

Goodbye, Mr. Sunshine

January 31, 2024Ken Showers, Managing Editor

After a week of being under the weather I could use a little sun to brighten my outlook. Unfortunately, following some news last week, that doesn’t seem to be in the cards. I’ll get to that point in a moment, since it’s a little detour from normal security news. The actual news I wanted to discuss this week is the often discussed but still unreleased ADT smart home security system made in collaboration with Google. It so happened that my boss asked me earlier this week what was...

ADT, ADT Solar, Google, Google Nest, Residential, smart home


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Ken Porpora departs ADT as CFO

Residential

Ken Porpora departs ADT as CFO

January 5, 2024SSN Staff

BOCA RATON, Fla. – ADT’s Ken Porpora, executive vice president and chief financial officer (CFO), has stepped down from his role to become the chief executive officer of a privately held HVAC and plumbing services provider as of the beginning of January. ADT made the announcement of Porpora’s departure in late December. For now, Jeff Likosar, president, corporate development and chief transformation officer, will serve as the interim CFO. Likosar previously served as the company’s...

ADT, HVAC, Jeff Likosar, Jim DeVries, Ken Porpora, Residential


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Also Noted

Security 101 appoints Ken Poole as chief revenue officer

December 6, 2023SSN Staff

WEST PALM BEACH, Fla.—Security 101 has announced the appointment of veteran sales strategist Ken Poole as the company's new chief revenue officer.  Poole, a seasoned executive with over two decades of sales and leadership experience, will report directly to CEO Greg Daly and oversee all aspects of sales and marketing within the company. "We are excited to welcome Ken to the Security 101 family,” Daly said. “His impressive track record in driving...

ADT, Greg Daly, Johnson Controls (JCI), Ken Poole, Orion Energy Systems, Inc., Security 101


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ADT 3Q gains driven by strong retention, divestiture of commercial business

Residential

ADT Q3 gains driven by strong retention, divestiture of commercial business

November 7, 2023SSN Staff

BOCA RATON, Fla. – ADT is reporting a significant improvement to its balance sheet in its third fiscal quarter, thanks to the divestiture of its former commercial division, as well as strong retention numbers and revenue from Consumers and Small Business (CSB). A list of financial highlights from the quarter include 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%,...

ADT, Consumers and Small Business (CSB), Jim DeVries, recurring monthly revenue (RMR), solar, Third Quarter (Q3)


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Also Noted

ADT to release third quarter 2023 results

October 23, 2023SSN Staff

BOCA RATON, Fla. – ADT has announced that it will release its third fiscal quarter 2023 financial results before the market opens on Thursday, Nov. 2, 2023. Following the release, management has stated it will host its conference call at 10 a.m. ET to discuss the financial results and lead a question-and-answer session. Pertinent topics for the call will likely include the company's recent sale of ADT Commercial to private equity firm GTCR. ADT Commercial rebranded as Everon...

ADT, ADT Commercial, Everon, GTCR, Third Quarter (Q3), webcast


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ADT completes sale of commercial division, ADT Commercial rebrands to Everon

Commercial

ADT completes sale of commercial division, ADT Commercial rebrands to Everon

October 2, 2023SSN Staff

BOCA RATON, Fla. – ADT has completed what it began in early August of this year, with the divestiture of its commercial division and ADT Commercial rebranding to Everon as part of its acquisition by private equity firm GTCR. The commercial security, fire and life safety provider and integrator announced today that it will move forward as a standalone organization and rebranded as Everon. The proceeds of the sale nets ADT approximately $1.5 billion, which significantly reduces...

ADT, ADT Commercial, Dan Bresingham, Everon, fire and life safety, GTCR, Rebrand, Security


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