ADT to restate some financial statements after accounting mistake

ADT Inc.
ADT,
+2.26%
shares dropped 2% in the extended session Monday after the home-security and alarm-monitoring company said in a filing that it will have to restate some financial results. ADT found mistakes in the way it dealt with some impairment losses in the third quarter of last year and the first quarter of 2023 as it prepared its second-quarter financial statements, it said. There was no impact on cash flow and the company plans to file amendments “as soon as practicable.” Shares of ADT ended the regular trading day Monday up 2.3%.