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 (NASDAQ: FTDR) has introduced a new video chat feature for its American Home Shield (AHS) brand, allowing members with select plans to connect live with home repair experts through the AHS app. The service, previously launched through the Frontdoor app in 2023, is now available at no additional cost to ShieldPlatinum, ShieldGold, ShieldComplete, and ShieldPlus plan members, covering approximately 87% of AHS's two million members.
The video chat service connects homeowners with experienced former contractors specializing in plumbing, electrical, HVAC, appliances, and general repairs. These experts average 19 years of experience and are available nationwide seven days a week from 7 AM to 10 PM Eastern time. The feature aims to help members potentially resolve issues remotely, saving time and money.
Frontdoor (NASDAQ: FTDR) reported strong financial results for 2024, with revenue increasing 4% to $1.84 billion. The company achieved significant improvements in profitability, with gross profit margin expanding 410 basis points to 54% and net income rising 37% to $235 million. Diluted earnings per share increased 42% to $3.01.
Key highlights include the completion of the 2-10 Home Buyers Warranty acquisition and securing a $1.47 billion credit facility. The company utilized $160 million to repurchase approximately 4 million shares in 2024. Operating cash flow reached $270 million.
For 2025, Frontdoor projects revenue between $2.0-2.04 billion, with an Adjusted EBITDA range of $450-475 million. The outlook includes expectations of 2-4% increase in realized price, though home warranty member count is forecasted to decline 2-4%.
Frontdoor (NASDAQ: FTDR), the leading home warranty provider in the U.S., has announced it will host its Investor Day and Fourth-Quarter and Full-Year 2024 financial results presentation on February 27, 2025 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 available on the investor relations website, with replay access available for 60 days following the event.
Frontdoor Inc (FTDR) commemorates National Home Warranty Day by highlighting the importance of home warranties and their distinct benefits compared to homeowner's insurance. A home warranty is a one-year service contract covering repair and replacement costs for systems and appliances due to normal wear and tear.
Chief Revenue Officer Kathy Collins emphasizes the inevitability of home system breakdowns and the importance of educating homeowners about warranty benefits. The company's leading brands, American Home Shield and 2-10, offer access to a nationwide network of over 17,000 independent home service contractors.
Key highlights include:
- Home warranties complement homeowner's insurance by covering normal wear and tear
- Plans can be customized to include specific home systems and appliances
- Warranties help manage unexpected breakdown costs
- Available for homeowners at any stage - buying, selling, or current ownership
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.