Tag: Fourth Quarter (Q4)
NAPCO reports ‘amazing’ results
August 28, 2024Ken Showers, Managing Editor
AMITYVILLE, N.Y. — NAPCO Security Technologies' fourth quarter financial results got a nice boost from recurring service revenue (RSR) and its Alarm Lock and Marks lines.
The company reported RSR increased 27% to $20.3 million in the fourth quarter and 26% to $75.7 million for the year compared to the same periods the previous year. It reported gross margin for RSR increased to 90.4% and 90.5% for the quarter and the year, respectively, compared to 89% and 89%.
“Our...
Evolv Q4 2023 highlights gun detection offering, new sporting venues
March 4, 2024SSN Staff
WALTHAM, Mass. – Evolv Technology, a security technology company developing AI-based weapons detection systems, announced its financial results for the fourth quarter (Q4) 2023 and issued its outlook for 2024 on February 29.
Among the notable statistics was that total revenue for the fourth quarter of 2023 was $21.8 million, an increase of 4% compared to $20.9 million for the fourth quarter of 2022. Annual Recurring Revenue (“ARR”)1 was $75.0 million at the end of fourth quarter...
2023 Q4 earnings call sees a slimmed-down ADT eyeing growth in 2024
February 28, 2024Ken Showers, Managing Editor
BOCA RATON, Fla. – Following a year fraught with challenges for most companies, ADT enters 2024 leaner and hungry as it refocuses on its core business.
On Feb. 28, 2024, ADT held its fourth quarter (Q4) 2023 earnings conference call to discuss both its financial results and its direction as it enters 2024 lighter after divesting itself of its commercial business and discontinuing its ADT Solar division.
ADT provided a number of highlights for both the quarter and the...
Allegion Q4 report shows a return to trends
February 23, 2024SSN Staff
DUBLIN – Allegion, a global security products and solutions provider, have reported on the financial results for its fourth quarter (Q4) (ended Dec. 31, 2023).
The company reported fourth-quarter 2023 net revenues of $897.4 million and net earnings of $118.6 million, or $1.34 per share. Adjusted net earnings were $148.5 million, or $1.68 per share, down 0.6%, excluding charges related to restructuring, acquisition and integration costs and other non-cash impairment charges, as well as amortization...
Resideo uses 2023 momentum to pivot in 2024
February 14, 2024Ken Showers, Managing Editor
SCOTTSDALE, Ariz. – Resideo Technologies exited 2023 with a strong Q4, and now it's riding that momentum into 2024, making some significant changes to reshape its portfolio and operations.
Among the highlights for the year, Resideo saw revenue of $6.2 billion for 2023, an adjusted EBITDA of $552 million, and $440 million in cash from operations. Its report noted that the company improved business execution in the second half of the year with products and solutions transformation...
ASSA ABLOY sees strong performance in commercial, but residential still challenging
February 7, 2024Ken Showers, Managing Editor
STOCKHOLM – While ASSA ABLOY reported strong gains in its commercial business in the fourth quarter, there's a clear drag on profits in its residential business.
It was a strong quarter in many respects for the global manufacturing company, managing a total of six acquisitions in the quarter, and a record number of acquisitions for the year. Several of those acquisitions were in the South American market, where ASSA ABLOY President and CEO Nico Delvaux said the company continues...
ADT exits residential solar market
February 5, 2024SSN Staff
BOCA RATON, Fla. – ADT revealed late in January that the company would be exiting its residential solar business.
The company said it will remain focused on cash flow generation and capital-efficient growth within its core security and smart home business. As part of this continued focus, ADT is also advancing its capital allocation strategy, including a cash dividend increase and authorization of a new share repurchase program.
“The decision to exit solar operations was made after...
Resideo reveals Q4 and 2023 results release date
January 29, 2024SSN Staff
SCOTTSDALE – Resideo Technologies, Inc., a global provider of home comfort, life safety and security solutions, and distributor of commercial and residential security and audio-visual products, will release its fourth quarter (Q4) and full-year 2023 financial results on Tuesday, Feb. 13, 2024.
A conference call and simultaneous webcast to discuss the results will be held on Tuesday, Feb. 13, at 5:00 p.m. ET. Interested investors and other parties can listen to a webcast of the...
Johnson Controls announces Q4 2023 earnings call
December 4, 2023SSN Staff
CORK, Ireland – Johnson Controls (JCI) has announced the date for its fourth fiscal quarter 2023 earnings call and webcast.
Occurring on Tuesday, Dec. 12, 2023, at 8:30 a.m. ET, the conference call for investors can be accessed either live via webcast at http://investors.johnsoncontrols.com/news-and-events/events-and-presentations, or by telephone (for "listen-only" participants and those who would like to ask a question) by dialing 844-763-8274 (in the United States) or +1-412-717-9224...
ADT Q4 sees record-high retention, recurring monthly revenue
March 1, 2023Ken Showers, Managing Editor
BOCA RATON, Fl. – ADT Inc. has seen its fourth consecutive financial quarter results hit record highs as the company released its results on Feb. 28.
Of note the company pulled in a Q4 total revenue of $1.6 billion, up 19 percent from last year, 8 percent when excluding solar and end-of-period recurring monthly revenues. ADT also boasted record-high customer retention with a gross customer revenue attrition rate of 12.5 percent. The company’s total revenue was...