Welcome to our dedicated page for Frontdoor news (Ticker: FTDR), a resource for investors and traders seeking the latest updates and insights on Frontdoor stock.
Frontdoor, Inc. reports news centered on its home warranty and new home builder warranty businesses, including American Home Shield and 2-10 Home Buyers Warranty. Company updates commonly cover quarterly financial results, member trends, revenue from renewal, real estate and direct-to-consumer channels, pricing and volume, adjusted EBITDA, and share repurchases.
Other recurring developments include technology partnerships for real estate transactions, consumer marketing for the home warranty category, and governance changes involving the board or finance leadership. Frontdoor's operating model connects homeowners, homebuyers, builders, agents and brokers with service-plan coverage for household systems, appliances, workmanship, distribution systems and structural components.
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.
Frontdoor, Inc. (NASDAQ: FTDR) reported a 7% revenue increase for Q1 2022 at $351 million, with double-digit growth in renewal and direct-to-consumer channels. Gross profit decreased by 3% to $144 million, reflecting inflationary pressures. Net income fell by 69% to $2 million, and diluted EPS dropped 67% to $0.02. The company updated its full-year revenue outlook to $1.66 billion-$1.69 billion. Challenges included a 20% decline in real estate channel revenue and rising costs, leading to an adjusted EBITDA of $25 million, down 31% year-over-year.
Frontdoor, Inc. (NASDAQ: FTDR), a top home service plan provider, will release its first-quarter 2022 financial results on May 5, 2022, at 3:30 p.m. CT. A conference call will follow, accessible by dialing 1-844-200-6205 or via webcast at investors.frontdoorhome.com. Frontdoor serves approximately 2.2 million customers through a network of 17,000 contractors, responding to over 4 million service requests annually. The call will be available for replay for 60 days.
Frontdoor, Inc. (NASDAQ: FTDR) reported strong financial performance for 2021, with net income increasing 14% to $128 million and revenue rising 9% to $1.60 billion. Gross profit reached $785 million, a 10% increase, while adjusted EBITDA rose 11% to $300 million. The company repaid approximately $350 million of debt and repurchased $103 million in stock. Looking ahead, Frontdoor projects 2022 revenue between $1.70 billion and $1.73 billion, with a gross profit margin of 46.5% to 47.5%.
Frontdoor, Inc. (NASDAQ: FTDR) will announce its fourth-quarter and full-year 2021 financial results on February 24, 2022, at 3:30 p.m. CT. A conference call will provide insights into these results, accessible by dialing 1-844-200-6205 or via webcast at investors.frontdoorhome.com. The company, which offers home service plans, serves 2.2 million customers through a network of approximately 17,500 contractors. Following the call, a replay will be available for 60 days.
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Frontdoor, Inc. (NASDAQ: FTDR), a leader in home service plans, will participate in the Raymond James Technology Investors Conference with a virtual fireside chat on December 7, 2021. The event will include a live webcast and will be accessible afterward for 60 days via the company's website. Frontdoor serves approximately 2.2 million customers in the U.S. through numerous contractors and technicians, addressing over four million service requests annually. The company offers customizable plans for home systems and appliances, utilizing technology for enhanced service delivery.
Frontdoor, Inc. (NASDAQ: FTDR), the leading provider of home service plans in the U.S., announced its participation in Wells Fargo's 5th Annual Virtual Summit on December 1, 2021. Management will hold a fireside chat during this event, with a live webcast available for attendees. A replay can be accessed on Frontdoor's investor relations website for 60 days post-event. Frontdoor serves 2.2 million customers through a network of 17,500 contractor firms and employs about 62,000 technicians, responding to over four million service requests annually.
Frontdoor, Inc. (NASDAQ: FTDR) reported strong third-quarter results for 2021, with revenue rising 7% to $471 million and net income increasing 56% to $76 million. The gross margin reached 54%, the highest in over 15 years. Adjusted EBITDA also saw a 34% year-over-year increase, totaling $122 million. The company initiated a $400 million share repurchase program, purchasing $25 million in September. However, customer retention dipped slightly to 74%. The full-year revenue outlook has been updated to between $1.59 billion and $1.60 billion.