Adt Inc (ADT) has released an update to notify the public and investors about termination and asset disposition expenses.
ADT Inc. announced in November 2023 its intention to streamline its solar operations, closing several branches and reducing staff. By January 2024, the decision was made by the Board of Directors to completely withdraw from the residential solar market due to ongoing economic and industry challenges, aiming to complete the process within the year. The company anticipates incurring both cash expenditures and non-cash charges during 2024 but cannot currently estimate the total costs of employee separations, contract terminations, and other related expenses. ADT will provide financial estimates in an updated report once available.
For further insights into ADT financials, check out TipRanks’ Financials page.
