ADT Stock Drops After Announcing Loss And Amazon Delay

By: Dan Gelinas, Published on Mar 12, 2019

ADT's stock price dropped significantly after reporting heavy losses and delays in its Amazon partnership, as seen in the screenshot below:

In this note, based on our analysis of the earnings call we look at:

  • ADT stock down to Dec. 2018 levels
  • Losses from LifeShield and ADT Canada
  • Amazon partnership not ready
  • Commerical Re-expansion Tenet
  • Outlook

***'* ***** ***** ******* significantly ***** ********* ***** losses *** ****** ** its ****** ***********, ** seen ** *** ********** below:

** **** ****, ***** on *** ******** ** the ******** **** ** look **:

  • *** ***** **** ** Dec. **** ******
  • ****** **** ********** *** ADT ******
  • ****** *********** *** *****
  • ********** **-********* *****
  • *******

[***************]

Amazon *********** *******

*** *** ********** ****** as * *******, ****** many **** **** ****** will ****** ***'* ******* competitor (*.*., ******* $** ******* ************ monitored ******** ******).

*** *** *** ************ ** *** ******** call**** *** ********** *********** with ****** *** *******:

*****, ******* **** ***** was ** ****** **** in ***** ***** *** partnership *** *** *****:

*******, ******* ******** ***** would **** **** ****** if *** ******** ****** on *** ******** ** 2019, ** **** ** the ********** *****:

***** **** ** ** already ***** **** *** that **** **** ** date *** *** ******, the **** ** ******** impact ** **** ** obvious. *** ****** ******** becomes ****, ** ***, positive ************ **** ****** make ** **** ** they ******** ** ******* their *** *********** ********.

ADT ******

*** **** *** ******** but *** ****** ** the **** *** ***, as *** ********* ** the ************:

*** ******* ******** * net **** ** $*** million, ******** ** ***** year’s *** ****** ** $638 *******. *** ******** in *** **** *** primarily *** ** *** prior ****’* ****** *** benefit ** $*** ******* related ** *** ****** and * ******** ********** loss ** $** ******* in **** *** ** underperformance ** *** ******** business.

*** ********* *** *** is **** ***** *** core *********** ****** ** facing ********* *********** **** limits ***** ***** *********** growth, ********* **** ** see ******** *******.

******* ********** ***** ********* about ****** **** ***'********* ******** ************* ******* *** **** losses ******** **** *** "underperformance" ** *** ******** division ** **** ** the *********** *****:

********* ** ****** **** LifeShield:

********* ** *** ******:

Commerical **-*********

** *** ******** ****, ADT ********** ***** ********** re-expansion ** * **** tenet ** ***** ********:

********* *** ******** ****** our *********** **** ********, as ** ********* ******* into *** ********** ******... This ****** *********** **** require **** ********** *********** over *** **** ** to ** ******, ***** Jeff **** ******** ** a *** *******.

*** ******* ************* *** **** ****:

**’** ** *** ***** of * *****-**** ********** expansion, ***** ******** ** exceptional ********* ** ******** with *** *********** ** Red ****, *** ** the **** ********* ***** independent ********** *******. ***** Red ****’* ******* ******** in **********, ****, **** safety *** ******** ********, this *********** ************* ******* our ********** ******** ** terms ** *** ******* portfolio, *** ********** ***** and *** ********** ******** service ************.

****** * *** ******** in ********** ******** ****** by ************:

*** ************ *** ***** revenue *** ** **% during *** ****** *******, driven ** ********* ** our ********** ********, **** organically *** ******* ****** acquisitions.

******, *** **** ********** integration **** ** * key ****** ** ******* growth:

** ***** ** *** specific ******** *** ****, we ****** ********* ** continue ** ******* *** full-year ******** ** ** in * ***** ** $4.9 ******* ** $*.* billion, ***** ******* *** growth **** ** *% to **%, ********* ** the ****-**** ******* ** Red ****.

*** *** **** ****** is ********* ****** ******* by ********* ** ************ revenue ** *** ********** business, ***** **** ********* in ********** *** ******** revenue ** *** **** business.

**** ** **********, ***** the ********** ***** ** the *********** ******.

Comments (3)

...********* *** ******** ****** *** *********** **** ********, ** ** diversify ******* **** *** ********** ******...

*** **** *’* **** ** **** ******* *** “**’** ******* out ** ********** *** ***** **** ***********.” ;)

***** **** ********* **** ******* ***** *** *********** ****** **** dictate *** ********* ******. ** ***** **** ** *** *** raw ****** ** ********/**** ************* *** *** ******* **** *******. It **** **** ** ******* **** ** *** ************ **********.

***/****** ***** ***** ***** ********…. ****** ***** *.**.** @ $*.**.
** ******** ***….? ** ****** ******* **** ******* *** *** short ****; ** *** ********** *** **** ****? **** **** to **** ********* *******. ** *** ****, ** **** *** traditional ********….. **** **** ***** *** ******* ***** ********. **** and **** ** *** ***** *** ********* ** ****** **** are ** *****. ****: *****/*********** ***** “*****” *****, **** **** $88 ******* ***** ***.
******: *** *****; ******* ******** *****

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