24/7 Market News Snapshot 24 October, 2024 – ADT Inc. (NYSE:ADT)

October 24, 2024

DENVER, Colo., 24 October, 2024 (247marketnews.com) – (NYSE:ADT) are discussed in this article.
ADT Inc. demonstrated strong financial performance with a notable increase in stock value and impressive quarterly results, reinforcing its position in the security solutions market. The company’s shares opened at $7.38 and surged to $8.037, marking a remarkable 16.14% rise from the previous closing price of $6.92. This movement was fueled by a substantial trading volume of 11.66 million shares, reflecting considerable investor interest and optimism about the stock’s potential.

In tandem with its stock performance, ADT announced a commendable 5% revenue growth for the third quarter of 2024, totaling $1.24 billion. The results also highlighted a 6% increase in Adjusted EBITDA, reaching $659 million, underscoring the company’s effectiveness in operations and its commitment to customer security across both residential and business sectors. Chairman, President, and CEO Jim DeVries emphasized the dedication of ADT’s employees and the strategic initiatives that have led to record-high recurring monthly revenue (RMR) of $359 million, with a healthy customer retention rate indicated by a gross attrition rate of 12.8%.

Moreover, the launch of the Trusted Neighbor feature on the ADT+ platform enhances security options for customers, allowing safe, temporary access to their homes. This technological advancement is bolstered by positive user feedback, with the ADT+ app achieving an average rating of 4.7 stars.

Looking ahead, ADT remains poised to meet its full-year guidance for 2024, with an emphasis on cash flow growth and strategic investments. The announcement of a cash dividend of $0.055 per share underscores the company’s commitment to returning value to shareholders while pursuing its mission of delivering superior security solutions.

Related news for (ADT)

NASDAQ and NYSE quotes and data are delayed 15 minutes unless indicated otherwise. Market data and exchange information are provided for informational purposes only and is not intended for trading purposes. Neither 24/7 Market News Editors, 247 Market News, or data and content providers shall be liable for any errors or omissions, delays, misquotes or other market information relayed in any press materials. You should Use Realtime data to conduct due diligence before investing or trading, and trading in any stock is risky you could lose all your money.