Frontdoor, Inc. Stock Price, News & Analysis

Frontdoor, Inc. (NASDAQ: FTDR) reported that its flagship brand, American Home Shield, has paid over $4 billion in member claims from January 2016 to September 2022. This achievement highlights the company's commitment to its members amidst high inflation, emphasizing the value of home service plans. These plans protect against unforeseen home expenses, covering repairs and replacements for essential systems. American Home Shield received a 4.6 out of 5 stars rating for its customer service, reflecting its extensive coverage options.

Frontdoor, Inc. (NASDAQ: FTDR) reported a 3% increase in Q3 2022 revenue to $484 million, driven by pricing and customer mix changes, despite a 3% decline in volume. However, gross profit fell by 17% to $210 million due to inflation-related costs, impacting net income, which dropped 63% to $28 million. The company has implemented cost-cutting measures, including a 7% workforce reduction, in response to economic challenges. Full-year revenue guidance is raised to $1.65-$1.66 billion, with adjusted EBITDA projected at $185-$195 million. The company anticipates a decline in real estate channel revenue.

Frontdoor, Inc. (NASDAQ: FTDR) announced its third-quarter 2022 financial results will be released on November 3, 2022, at 7:30 a.m. Central time. A conference call will follow to discuss these results, open to participants via phone and webcast. Frontdoor, a leading provider of home service plans, serves approximately 2.2 million customers through its brands like American Home Shield and ProConnect, employing a network of about 17,000 contractors. Forward-looking statements are included, cautioning potential variability in actual results.

Frontdoor, Inc. (NASDAQ: FTDR) reported second-quarter 2022 results, posting revenue of $487 million, a 5% increase from $462 million in 2021. However, gross profit fell 13% to $211 million, and net income decreased 18% to $33 million. Adjusted EBITDA declined 32% to $77 million, affected by a 23% rise in claims costs due to inflation. The company updated its full-year revenue outlook to $1.63 billion to $1.65 billion. Despite challenges, management expressed confidence in long-term fundamentals and strategic improvements.

Frontdoor, Inc. (NASDAQ: FTDR), the leading provider of home service plans, will release its second-quarter 2022 financial results on August 4, 2022, at 7:30 a.m. Central time. A conference call will follow, allowing participants to dial in or join via webcast. Frontdoor serves approximately 2.2 million customers through a vast network of contractors, responding to over four million service requests annually. The company emphasizes its commitment to service innovation and customer satisfaction in home repair and maintenance.

Frontdoor (NASDAQ: FTDR) participated in the SkillsUSA National Leadership & Skills Conference to address the skilled trades workforce shortage in the U.S. Senior VP Tony Bacos emphasized the importance of attracting talent to ensure sustainable craftsmanship. The company showcased its innovative Streem remote video communication platform, enhancing customer experience and diagnostics. With over 50 years in the industry, Frontdoor serves 2.2 million customers through a network of 17,000 contractors and 60,000 technicians, processing over four million service requests annually.

Frontdoor, a leading provider of home service plans, has appointed Jessica Fields as the new vice president and chief sales officer. Fields, who has significant experience in business growth and market disruption, will oversee real estate, direct-to-consumer sales, and business development. She joins from Rocket Mortgage, where she held executive roles and managed partnerships across various sectors. This strategic hire is aimed at enhancing revenue and customer experience, leveraging Fields' deep understanding of home services and sales strategies.

Frontdoor, Inc. (NASDAQ: FTDR) announced the appointment of Kathy Collins as senior vice president and chief marketing officer. Collins brings extensive experience in marketing leadership from various sectors, including financial services and retail. Previously, she served as chief sales and marketing officer at G.E.H.A., Inc. and held roles at Massage Envy and H&R Block. Frontdoor is dedicated to simplifying home ownership with its service plans, catering to 2.2 million customers via a robust network of contractors.

Frontdoor announced that William Cobb, the current chairman, will take over as Chief Executive Officer, succeeding Rexford Tibbens effective June 1, 2022. Tibbens will stay on until June 30, 2022 in an advisory role for a smooth transition. Cobb has extensive experience, previously leading H&R Block and holding various positions at eBay. He expressed confidence in the company's direction amid macroeconomic challenges. The board also appointed Brian McAndrews as the lead independent director to enhance oversight.