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ADT Inc. backs FY23 adjusted view EPS 30c-40c, consensus 34c

Cuts FY23 revenue view to $6.3B-$6.5B from $6.6B-$6.85B, consensus $6.66B. The company is revising its financial guidance for 2023. Total revenue is now projected to be lower than prior guidance due to the Solar outlook from low installation volume and efficiency headwinds, partially offset by CSB and Commercial performance. The Company is maintaining previously issued guidance on Adjusted EBITDA, Adjusted EPS, Adjusted Free Cash Flow, and Adjusted Free Cash Flow as we expect M&S revenue and improved operating margins within CSB and Commercial to largely offset the profitability and cash flow impact of Solar underperformance.

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