Alex Locker's questions to ADT Inc (ADT) leadership • Q4 2024
Question
Alex Locker of Goldman Sachs inquired about ADT's plans for bulk account purchases in 2025, its overall capital allocation strategy, and the performance of the State Farm partnership in Q4 compared to previous quarters.
Answer
CEO Jim DeVries stated that ADT acquired 49,000 bulk accounts in 2024 and will continue to pursue such deals when economically favorable. He also noted the State Farm partnership expanded to 17 states, with 18,000 sales in 2024 versus 5,500 in 2023. CFO Jeff Likosar added that capital allocation priorities include business investment, balance sheet strengthening, and shareholder returns, highlighting a new $500 million share repurchase authorization.