ADT said a 7 per cent RMR revenue increase was driven by a 5 per cent increase in monitoring and related services revenue, and an improvement in pricing.
“Our third quarter results show that we are successfully delivering solid results for our shareholders while positioning the company for long-term growth,” said Jim DeVries, ADT’s president and CEO.
“Our pending acquisition of Sunpro Solar represents an exciting new chapter for ADT, giving us a top-tier position in the fast-growing residential solar business. With our broad spectrum of integrated security, smart home, and energy management solutions – customers will now be protected, connected, and powered by ADT.”
Total revenue increased 1 per cent year over year to $US1.317 billion. The revenue increase was driven by a $53 million, or 5 per cent increase in monitoring and related services revenue resulting from the company’s subscriber growth initiatives and an improvement in average pricing.
Adjusted EBITDA was $554 million, down from $564 million in the prior year, reflecting the non-cash impact of the ownership model changes and technology investments. These items were partially offset by strong monitoring and related services revenue performance, as well as improved Commercial Division results.
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