Tag: ADT Solar
2023 Q4 earnings call sees a slimmed-down ADT eyeing growth in 2024
February 28, 2024Ken Showers, Managing Editor
BOCA RATON, Fla. – Following a year fraught with challenges for most companies, ADT enters 2024 leaner and hungry as it refocuses on its core business.
On Feb. 28, 2024, ADT held its fourth quarter (Q4) 2023 earnings conference call to discuss both its financial results and its direction as it enters 2024 lighter after divesting itself of its commercial business and discontinuing its ADT Solar division.
ADT provided a number of highlights for both the quarter and the...
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...
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 holds strong and achieves record RMR in Q1 2023, stumbles on solar
May 3, 2023Ken Showers, Managing Editor
BOCA RATON, Fla. – It was a solid quarter for growth with ADT on this year’s 2023 Q1 earnings call, with only a small cloud blocking the sun.
To make note of some of the highlights from the report: total revenue of $1.6 billion, up 4 percent, and end-of-period recurring monthly revenue (RMR) record of $378 million, up 4 percent featuring high customer retention with gross customer revenue attrition maintaining record low of 12.5 percent. President and CEO Jim DeVries attributed...
ADT appoints Jamie Haenggi to lead ADT Solar
December 16, 2022SSN Staff
BOCA RATON, Fla. – ADT announced that Jamie Haenggi has been appointed to lead its ADT Solar division.
Haenggi has served as executive vice president and chief operating officer for ADT Solar since March and now leads all functions within the division according to ADT. Sunpro founder, and previous ADT Solar executive vice president Marc Jones will serve as senior advisor to Haenggi.
Joining in 2016, Haenggi has held executive roles within sales, marketing, and customer experience...