Stanley Black & Decker Q2 Revenue Sags But Rebound Projected
CEO James Loree declared “a rapidly improving demand environment” for the second half of the year, including bullish expectations for the security business.
CEO James Loree declared “a rapidly improving demand environment” for the second half of the year, including bullish expectations for the security business.
While Vivint’s overall average revenue per subscriber increased $1.49 per month compared to Q1 last year, attrition slightly increased as well.
First quarter revenues of $1.4 billion increased 10% over the prior year despite the loss of contribution from ADT’s Canadian operations.
Resideo posted revenues of $1.18 billion for the quarter ended March 2020, missing the Zacks Consensus Estimate by 3.78%.
Net income for the third quarter increased 16% to a third quarter record of $3.6 million. This compares with $3.1 million in the same period the prior year.
Along with disrupting its bottom line, the COVID-19 crisis has apparently derailed the company’s plan to divest its Stanley Security business for now.
The company attributes its positive financial results to continued focus on long-term sustainable growth and staffing in 2019 report.
In its first earnings call since becoming a public company, Vivint revealed margins at 40.6%, $66 in RMR per subscriber and 15 devices per installation.
ADT continues to diversify beyond traditional home security, recently launching Blue by ADT, a DIY offering, and acquiring Defenders, its largest independent dealer.
The company reported quarterly earnings of 39 cents per share, beating the Zacks Consensus Estimate of 28 cents per share.