2 weeks Ago By GlobeNewswire
Continued strong financial results with record recurring monthly revenue and customer retention GAAP operating cash flows up 28%, Adjusted Free Cash Flow including interest rate swaps up 105% Returned $445 million to shareholders through share repurchases and dividends On track to achieve full year 2025 guidance metrics BOCA RATON, Fla., April 24, 2025 (GLOBE NEWSWIRE) -- ADT Inc. (NYSE: ADT) today reported results for the first quarter of 2025.
Financial highlights for the first quarter are below with variances on a year-over-year basis unless otherwise noted. Results of the former commercial and solar segments are presented as discontinued operations, except for cash flow measures. Business Highlights Foundation for Growth Income from continuing operations for the first quarter was $142 million, or $0.
16 per diluted share, down $21 million. This was primarily attributable to an unrealized loss on interest rate swaps compared to a gain in the prior year, partially offset by continued growth in revenues and associated margins. Adjusted income from continuing operations for the first quarter was $186 million, or $0.
21 per diluted share, up $15 million. This was primarily driven by the continued growth in revenues and associated margins noted above. Balance Sheet and Cash Flow Net cash provided by operating activities during the first quarter was $467 million, up $103 million and Adjusted Free Cash Flow (including interest rate swaps) was $226 million up $116 million.
These measures benefited from lower cash usage due to the exit of the solar business, timing of payments and receipts, and improved operating performance. Total cash and cash equivalents as of March 31, 2025 were $4 million with $40 million outstanding under the Company's First Lien Revolving Credit Facility. In March, the Company issued a new $600 million first lien seven-year term loan facility and used the proceeds to partially redeem $500 million of the First Lien Notes due 2026, as well as for other general corporate purposes.
In March the Company also amended the agreement governing the 2020 Receivables Facility to extend the uncommitted revolving period to March 2026, reduce the interest rate on outstanding borrowings, and increase the advance rate on pledged collateral. Capital returns during the first quarter totaled $445 million and included $49 million of dividends and 53 million shares repurchased for $397 million. 2025 Financial Outlook The Company is reiterating its financial guidance for 2025.
(including interest rate swaps) Effective April 24, 2025, the Company's Board of Directors declared a cash dividend of $0.055 per share to holders of the Company's common stock and Class B common stock of record as of June 12, 2025. This dividend will be paid on July 8, 2025.
____________________ As previously announced, management will host a conference call at 10 a.m. ET today to discuss the Company's first quarter 2025 results and lead a question-and-answer session.
Participants may listen to a live webcast through the investor relations website at investor.adt.com.
A replay of the webcast will be available on the website within 24 hours of the live event. Alternatively, participants may listen to the live call by dialing 1-800-715-9871 (domestic) or 1-646-307-1963 (international), and providing the access code 4948265. An audio replay will be available for one week following the call, and can be accessed by dialing 1-800-770-2030 (domestic) or 1-609-800-9909 (international), and providing the access code 4948265.
A slide presentation highlighting the Company's results will also be available on the Investor Relations section of the Company's website. From time to time, the Company may use its website as a channel of distribution of material Company information. Financial and other material information regarding the Company is routinely posted on and accessible at investor.
adt.com. About ADT Inc.
ADT provides safe, smart and sustainable solutions for people, homes and small businesses. Through innovative offerings, unrivaled safety and a premium customer experience, all delivered by the largest networks of smart home security professionals in the U.S.
, we empower people to protect and connect to what matters most. For more information, visit www.adt.
com. Tel: 888-238-8525 ADT has made statements in this press release that are forward-looking and therefore subject to risks and uncertainties, including those described below. All statements, other than statements of historical fact, included in this document are, or could be, "forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995 and the applicable rules and regulations of the Securities and Exchange Commission (the "SEC”) and are made in reliance on the safe harbor protections provided thereunder.
These forward-looking statements relate to, among other things, the timing of the Company's dividend payment; the Company's expected future financial results, including the Company's financial outlook and/or guidance, which includes Total Revenue, Adjusted EBITDA, Adjusted Diluted Income (Loss) per Share ("Adjusted EPS”) and Adjusted Free Cash Flow (including interest rate swaps); the Company's partnerships and the expected benefits of the Company's products and services; the expectations, plans and objectives of management; any stated or implied outcomes with regard to the foregoing; and other matters. Without limiting the generality of the preceding sentences, any time we use the words "ongoing,” "expects,” "intends,” "will,” "anticipates,” "believes,” "confident,” "possible,” "continue,” "propose,” "seeks,” "could,” "may,” "should,” "estimates,” "forecasts,” "might,” "potential,” "outlook,” "goals,” "objectives,” "targets,” "planned,” "projects,” and, in each case, their negative or other various or comparable terminology, and similar expressions, we intend to clearly express that the information deals with possible future events and is forward-looking in nature. However, the absence of these words or similar expressions does not mean that a statement is not forward-looking.
These forward-looking statements are based on management's current beliefs and assumptions and on information currently available to management. We caution that these statements are subject to risks and uncertainties, many of which are outside of the Company's control and could cause future events or results to be materially different from those stated or implied in this press release, including, among others, factors relating to risks and uncertainties regarding the benefits and any difficulties with respect to the effect of the Company's divestiture of its commercial business (the "Commercial Divestiture”) and the Company's exit from its residential solar business (the "ADT Solar Exit”), including that the costs of the ADT Solar Exit may exceed the Company's best estimates; the Company's ability to maintain and grow the Company's existing customer base and to integrate strategic bulk purchases of customer accounts; activity in repurchasing shares of ADT's common stock under the Company's current share repurchase plan; dividend rates or yields for any future quarter; the Company's ongoing assessments of the impacts of cybersecurity attacks; the Company's expectations regarding its ability to effectively implement counter measures intended to safeguard the Company's information technology assets and operations; the impact of cybersecurity incidents on the Company's relationships with customers, employees and regulators; the Company's ability to coordinate effectively with its third party business partners to address any cybersecurity incidents; legal, reputational and financial risks resulting from any cybersecurity incidents; and that any future, or still undetected, cybersecurity related incident, whether an attack, disruption, intrusion, denial of service, theft or other breach could result in unauthorized access to, or disclosure of, data, resulting in claims, costs and reputational harm that could negatively affect actual results of operations or financial condition; any material changes to the valuation allowances the Company takes with respect to its deferred tax assets; any changes in regulations or laws, economic and financial conditions, including labor and tax law changes or any impacts on the global economy or consumer discretionary spending due to tariffs or otherwise, changes to privacy requirements, changes to telemarketing, email marketing and similar consumer protection laws, interest volatility, and trade tariffs and restrictions applicable to the products we sell; the Company's ability to effectively implement its strategic partnerships with State Farm or Google, including, commercializing products or utilizing any of the amounts invested in the Company or provided by State Farm for research and development or other purposes; and risks that are described in the Company's most recently filed Annual Report on Form 10-K and its Quarterly Reports on Form 10-Q, including the sections titled "Risk Factors” and "Management's Discussion and Analysis of Financial Condition and Results of Operations” contained in those reports, and in the Company's other filings with the SEC. Any forward-looking statement made in this press release speaks only as of the date on which it is made.
ADT undertakes no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future developments, or otherwise unless required by law. CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (in millions, except per share data) (Unaudited).
