ADT's Strategic Shifts Pay Off As Q4 EPS Beat Expectations: Details
Portfolio Pulse from Akanksha Bakshi
ADT Inc. reported a 7.2% decline in Q4 fiscal 2023 sales to $1.22 billion, missing expectations. However, adjusted EPS of $0.25 beat the consensus of $0.04. The company announced exiting its residential solar business, reduced debt by $2.1 billion, and expects 2024 CSB segment revenue of $4.8-$5.0 billion with adjusted EPS of $0.60-$0.70. ADT shares rose 7.5% to $7.02.
February 28, 2024 | 3:52 pm
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ADT Inc. reported mixed Q4 fiscal 2023 results with a sales decline but higher-than-expected EPS. The company is exiting its solar business, reduced debt significantly, and provided a positive 2024 outlook.
Despite the sales miss, ADT's EPS beat and positive future outlook, including significant debt reduction and exiting the solar business, are likely to positively impact investor sentiment and the stock price in the short term.
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