ADT Inc. ( ADT ) shares are trading higher Thursday after the company reported financial results for the third quarter of 2024. Here’s what you need to know.

What To Know: ADT reported third-quarter adjusted earnings per share of 20 cents, beating the estimate of 17 cents. The company reported quarterly revenue of $1.244 billion, surpassing the expected $1.218 billion. ADT said revenue was up 5% year-over-year.

Income from continuing operations was $132 million or 14 cents per diluted share, reflecting a 7% increase. Adjusted EBITDA rose by 6% to $659 million. Recurring monthly revenue grew 2% to $359 million. The company saw strong customer retention with a gross revenue attrition rate of 12.8%.

“ADT delivered solid third quarter performance resulting in a record-high recurring monthly revenue balance, healthy customer retention, strong operating profitability, and cash generation. Our successful performance reflects the dedication of our employees to serve the needs of our customers,” said ADT chairman, president and CEO, Jim DeVries.

ADT narrowed its full-year 2024 revenue guidance to a range of $4.85 billion to $4.95 billion, from a previous range of $4.8 billion to $5 billion, versus estimates of $4.89 billion. Adjusted EPS guidance was also updated to a range of 70 to 75 cents versus estimates of 69 cents.

The company declared a cash dividend of $0.055 per share, payable on Jan. 9, 2025 to shareholders of record as of Dec. 12.

ADT’s business updates for third-quarter included the launch of the “Trusted Neighbor” feature, enabling secure, temporary home access through the ADT+ app. The company also expanded its State Farm Home Security Program and acquired 49,000 customer accounts for $81 million. The ADT+ app maintained high user ratings and the company marked its 150th anniversary with internal events.

“With our proprietary ADT+ platform, and the recent launch of our Trusted Neighbor features, we continue to empower our customers with the safety, convenience, and peace of mind they expect from ADT,” DeVries added.

ADT Price Action: ADT shares were up 11.8%, trading at $7.75 at the time of publication, according to Benzinga Pro.

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