Frontdoor, Inc. Stock Price, News & Analysis

Frontdoor (NASDAQ: FTDR) has expanded its partnership with Moen to six additional states for the installation of Moen® Flo Smart Water Monitor and Shutoff devices. The expansion, which began January 31, adds Connecticut, Illinois, Kansas, Michigan, New Jersey, and Tennessee to the existing eight-state coverage, bringing the total to 14 states.

The Moen device uses AI technology to monitor water pressure and flow rates, detecting leaks as small as one drop per minute. It has demonstrated effectiveness in reducing 96% of non-weather water insurance claims. The system can automatically shut off water supply when detecting issues and allows users to monitor water usage through a smartphone app.

As part of the agreement, customers who purchase Flo through specific insurance provider marketing programs will receive a free one-year Frontdoor Unlimited membership alongside installation services.

Frontdoor (NASDAQ: FTDR), the leading home warranty provider in the U.S., has announced it will host an Investor Day event and release its fourth-quarter and full-year 2024 financial results on February 27, 2024, in New York. The event will commence at 9:00 a.m. Eastern Time.

The company's leadership team will present their vision, strategy, and new service offerings, along with the 2024 financial results and 2025 financial outlook. A live webcast and presentation slides will be accessible to the public through the investor relations website, with a replay available for 60 days following the event.

Frontdoor (NASDAQ: FTDR), the nation's leading home warranty provider, has launched a new trade school scholarship program in partnership with BlueRecruit to address the growing skilled trades labor shortage. The initiative aims to support students pursuing careers in trades as current workers retire from the profession.

The scholarship program is open to students across the United States, with recipients selected based on their industry commitment, including trade school enrollment, recommendation letters, and video essays. A Frontdoor committee will review applications and award funds based on education and degree progress.

The partnership addresses a critical industry challenge as essential professionals like contractors, plumbers, and electricians retire, creating a widening gap between job openings and qualified workers. As a home services sector leader, Frontdoor is taking proactive steps to drive positive industry change.

Frontdoor (NASDAQ: FTDR) has completed the acquisition of 2-10 Home Buyers Warranty for $585 million in an all-cash transaction. The acquisition immediately expands Frontdoor's customer base, revenue, and earnings while diversifying its portfolio through 2-10's New Home Structural Warranty product.

Alongside the acquisition, Frontdoor has secured a $1.47 billion credit facility, consisting of a $418 million Term Loan A, an $800 million Term Loan B, and a $250 million revolving credit facility. The proceeds will be used to retire existing debt, fund the acquisition, and support share repurchases and general corporate purposes.

Frontdoor (NASDAQ: FTDR) has launched a $1.47 billion credit facility to fund the acquisition of 2-10 Home Buyers Warranty and refinance existing debt. The facility includes a $418 million Term Loan A, an $800 million Term Loan B, and a $250 million revolving credit facility.

The company has received regulatory approval from the State of California and expects to close the 2-10 acquisition in mid-December 2024. The credit facility closing is subject to market conditions, definitive document execution, and satisfaction of customary closing conditions, including the concurrent closing of the 2-10 acquisition.

Frontdoor (NASDAQ: FTDR) has launched the new American Home Shield app for its home warranty members. The app provides convenient access to account and plan information, allowing users to make and track service requests, access special offers, and manage payment information. CEO Bill Cobb announced that additional features will be rolled out in the coming months to enhance the user experience. The app is now available for both iPhone and Android devices.

Frontdoor (NASDAQ: FTDR) reported strong Q3 2024 results with revenue increasing 3% to $540 million. Net income rose 40% to $100 million, while adjusted EBITDA grew 29% to $165 million. The company's gross profit margin improved 550 basis points to 57%. Frontdoor completed its $400 million share repurchase program and established a new $650 million authorization. The company raised its full-year 2024 outlook, projecting revenue of approximately $1.830 billion and adjusted EBITDA of $430 million. The 2-10 acquisition remains on track to close in Q4 2024.

Frontdoor (NASDAQ: FTDR) has expanded its exclusive agreement with Moen to install Moen Flo Smart Water Monitor and Shutoff devices in seven additional states: Arizona, Utah, Idaho, Oregon, Texas, Georgia and South Carolina, effective November 1. This expansion follows an earlier agreement for California installations. The Moen Flo device monitors water usage, detects leaks, and automatically shuts off water when catastrophic leaks are identified. The device can help reduce water damage claim frequency by up to 96%. As part of the agreement, Moen Flo customers will receive a free one-year Frontdoor Unlimited membership, providing access to video consultations with plumbing experts and in-person service scheduling.

Frontdoor (NASDAQ: FTDR) has expanded its agreement with Moen to install the Moen Flo Smart Water Monitor and Shutoff valve in seven additional states: Arizona, Utah, Idaho, Oregon, Texas, Georgia and South Carolina, effective November 1. This expansion follows an earlier agreement for installations in California.

The Moen Flo device monitors water usage, detects leaks, and automatically shuts off water when catastrophic leaks are identified. The system can help reduce water damage claim frequency by up to 96%. As part of the agreement, customers will receive a free one-year Frontdoor Unlimited membership, providing access to video consultations with plumbing experts and in-person service scheduling through Frontdoor's contractor network.