ADT falls on cutting full-year revenue forecast

ADT

08/08/2023 18:54

**  Shares of ADT Inc  ADT.N  down 2.3% to $6.02 in
afternoon trade  
    ** Co cuts full-year rev. outlook to $6.30 bln - $6.50 bln
vs. $6.60 bln - $6.85 bln expected earlier 
    ** Analysts' on average expect full-year rev. to be at $6.66
bln - Refinitiv  
    ** Communications firm  reiterates its full-year forecast
for adjusted EPS at 30 cents-40 cents
    ** ADT posts a total revenue of $1.6 bln and adjusted EPS of
16 cents in Q2 
    ** Also, announces agreement to sell its commercial
security, fire and life safety business unit to GTCR for $1.6
bln 
    ** Proceeds from the deal are expected to reduce debt by
$1.5 bln with deal closing expected in Q4
    ** Three of 6 brokerages rate the stock "buy" or higher, 2
"hold" and 1 "sell" or lower; median PT is $9.30
    ** Including session moves, stock down 33.63% YTD 

 (Reporting By Akshita Toshniwal in Bengaluru)
 ((Akshita.Toshniwal@thomsonreuters.com))