ADT Inc. (ADT) · Nov 3, 2026 · Earnings

ADT earnings beat revenue, but core monitoring keeps shrinking

Beat — Adjusted EPS $0.24 vs ~$0.23 consensus

ADT’s third-quarter earnings beat revenue expectations, but recurring monitoring, EBITDA and margins weakened as the pending acquisition removes guidance.

ADT is trying to evolve from a legacy recurring-monitoring company into a broader smart-home platform built around ADT+, AI, DIY distribution and outright equipment sales; that transition was already visible in its second-quarter outlook and technology investments. The company is also now operating under a signed agreement to be acquired by Thrive Holdings, with closing expected in the first quarter of 2027.

	Q3 2026	Q3 2025	Consensus
Total revenue (Financial Highlights)	$1,349M (+4%)	$1,298M	~$1,320M
Adjusted EPS (Financial Highlights)	$0.24 (+4%)	$0.23	~$0.23
Adjusted EBITDA (Financial Highlights)	$665M (-2%)	$676M	~$663M
Adjusted FCF incl. swaps (Financial Highlights)	$217M (+4%)	$208M
RMR (Financial Highlights)	$360M (-1%)	$362M
Gross customer revenue attrition (Financial Highlights)	13.1%	13.0%

The quarter cleared the published earnings bar, but mostly through the lower-quality part of the business. Revenue of $1.349 billion topped the roughly $1.32 billion consensus, while adjusted EPS of $0.24 was modestly above the roughly $0.23 expectation. The revenue increase came primarily from professionally installed systems sold outright, not from the recurring monitoring base. 〔0〕

The underlying recurring engine is still losing ground. Monitoring and related-services revenue fell 1%, RMR declined to $360 million, and gross customer revenue attrition edged higher to 13.1%. That makes the headline revenue beat less powerful: ADT is growing equipment and installation revenue while its subscription base remains stagnant to shrinking. 〔1〕

Profitability was weaker beneath the EPS headline. Adjusted EBITDA fell 2% and margin declined to 49% from 52%, while adjusted income fell 6%. GAAP EPS benefited from lower interest expense and a much smaller share count after buybacks, so the per-share result overstates the improvement in operating performance.

Cash generation remains the clearest support for the story. Adjusted free cash flow including interest-rate swaps rose to $217 million for the quarter and reached $1.037 billion year to date, despite operating cash flow falling 8% as outright sales required more subscriber-acquisition spending. That supports ADT’s ability to fund investment and capital returns, but it does not remove the concern that the business is trading recurring economics for upfront revenue.

The acquisition makes this earnings release less consequential as a standalone outlook update. ADT withdrew its previously issued guidance because of the pending Thrive transaction, so investors receive no new full-year operating target. The acquisition itself was already announced on October 29, making the deal disclosure partly known; the new information here is that the operating business delivered a modest earnings beat while the recurring base and margins continued to soften.

Bottom line: ADT beat the quarter’s modest expectations, but the quality of that beat was mixed: upfront equipment sales grew while recurring monitoring and operating profitability weakened. The filing modestly improves the near-term execution read, but the pending acquisition—not this quarter’s beat—now determines the company’s next chapter.>

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Original filing on SEC EDGAR

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AllSight · BlackBerry Q2 FY27

Revenue $163.3M vs ~$144M expected; adjusted basic EPS $0.07 vs ~$0.04 consensus — a real upside surprise.Income statement
QNX revenue +27% to $80.3M; segment EBITDA $29.0M from $20.5M. “Record performance… core automotive.”Segment — QNX
Licensing jumped to $22.1M from $6.6M — it amplified the beat, but it's less recurring than QNX, so the quality sits in QNX.Segment — Licensing
FY27 guide lifted to $616–636M rev / $141–158M EBITDA, above the prior $594–621M / $119–139M framework.Guidance
QNX growth, margins, cash and a raised outlook all beat. But licensing amplified it and Secure Comms is flat — net retention 91% from 93%.Segment — Secure Comms

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Events/ANDE/8-K · Earnings

8-K · Item 2.02 · Earnings

The Andersons — a record Renewables quarter that beat profit expectations

Filed Aug 3, 2026ANDE · NASDAQ

AllSight readBeatPriced in▲ 1.8% since filed · reaction agrees

adj. EPS $2.15 vs ~$1.48 consensus

This filing tests whether The Andersons' sharp profit increase reflects broad operating improvement or a one-off renewable-fuels boost. It also separates strong adjusted earnings and cash generation from the quarter's legal and impairment charges.

The quarter was substantially stronger than both last year and the published earnings expectation. Adjusted EPS reached $2.15, versus $0.24 a year earlier and above the published consensus of about $1.48; reported EPS was $1.65. Adjusted EBITDA more than doubled to $140 million, while sales slipped modestly — the improvement came from margins and operating performance rather than higher revenue. Financial Highlights · Statements of Operations

Q2 ($M, exc. per-share)	Q2 2026	Q2 2025	YoY
Sales & merchandising revenue	3,097.7	3,135.9	−1%
Net income (attributable)	56.6	7.9	+48.7
Diluted EPS	1.65	0.23	+1.42
Adjusted EPS	2.15	0.24	+1.91
Adjusted EBITDA	140.3	65.2	+75.1
Agribusiness adj. pretax	20.3	16.8	+3.5
Renewables adj. pretax	88.4	9.6	+78.8
Cash from operations	487.9	299.3	+188.6
Cash from ops (pre-WC)	112.9	42.9	+70.1

Renewables drove nearly all of the upside — the operating backdrop was strong, but the result also benefited materially from tax credits. Renewables' adjusted pretax income rose to $88 million on record production, stronger ethanol margins and merchandising gains. It also received $24 million of 45Z producer tax credits, so this was not solely a repeatable plant-margin improvement; the company did cite healthy export and domestic ethanol demand as supportive. Renewables — Record Q2 · Segment Data

Agribusiness improved, but it was a supporting contributor rather than the main earnings engine. Adjusted pretax income increased to $20 million as fertilizer margins improved and merchandising benefited from commodity-price volatility, despite lower fertilizer volumes. Agribusiness — Improved Q2 · Segment Data

Cash generation improved and funding capacity is comfortable, while reported earnings still absorbed meaningful non-core costs. Operating cash flow was $488 million ($113 million before working-capital changes); capital spending was $76 million. Adjusted EPS excludes $0.50 of legal-settlement, impairment and transaction items, so the $2.15 adjusted result runs ahead of the $1.65 reported. Leverage stays below the <2.5× debt-to-EBITDA target; no new quantified full-year outlook was given. Cash & Liquidity · Adjusted Net Income

Community sentiment · 612 votes

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ADT earnings beat revenue, but core monitoring keeps shrinking

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