March 11, 2019 / 8:55 PM / 2 months ago

UPDATE 1-Home security firm ADT's outlook disappoints, shares fall

(Adds forecast, estimates, background, shares)

March 11 (Reuters) - ADT Inc reported a quarterly loss and forecast 2019 revenue and EBITDA below Wall Street estimates amid intensifying competition from fast-growing do-it-yourself home security offerings such as Google Nest.

ADT's shares fell 6.5 percent in after-hours trading.

Security products such as Google Nest, SimpliSafe and Frontpoint can be self-installed, have a lower monthly fee and may or may not be monitored by a third party.

These products compete with ADT's Pulse, which allows users to monitor and manage their home remotely.

ADT said it expects 2019 revenue in a range of $4.90 billion to $5.10 billion, largely below the average analyst estimate of $4.92 billion, according to IBES data from Refinitiv.

The company's full-year earnings before interest, tax, depreciation and amortization (EBITDA) outlook of between $2.46 billion and $2.50 billion was also below Wall Street expectations of $2.56 billion.

ADT reported a net loss of $149 million, or 20 cents per share, in the fourth quarter ended Dec. 31, compared with a profit of $638 million, or 99 cents per share, a year earlier, when it recorded a benefit due to the U.S. tax reform.

ADT took a goodwill impairment charge of $88 million in 2018 due to underperformance of its Canadian business.

Revenue rose 7.1 to $1.19 billion. (Reporting by Sayanti Chakraborty in Bengaluru; Editing by Maju Samuel)

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below