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) 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.
American Home Shield, a Frontdoor (NASDAQ: FTDR) brand, announces a -time offer of 50% off on its ShieldGold and ShieldSilver home warranty plans for new members. The ShieldSilver plan covers 14 major home systems, including heating, cooling, electrical, and plumbing systems. The ShieldGold plan extends coverage to 23 items, including nine additional everyday appliances. These home warranty plans help protect against repair and replacement costs when covered systems and appliances break down due to normal wear and tear, complementing traditional homeowner's insurance.
Frontdoor, a home repair and maintenance app, has been named a winner in Good Housekeeping's 2025 Home Reno Awards. Launched in April 2023, the app has been downloaded 2.4 million times and offers real-time video chats with experts on plumbing, electrical, HVAC, appliances, and handyman issues. The app's key features include:
- Diagnosis and repair advice
- Access to a network of trusted Pros for in-home help
- Helpful tips and discounts on HVAC systems and appliances
- First video chat is free, with unlimited chats available for $25 per year
Good Housekeeping's team spent 10,000 hours evaluating submissions for performance, safety, and durability in their Home Improvement & Outdoor Lab and through consumer testing. The recognition is seen as a significant honor for Frontdoor and its team.
Frontdoor, Inc. (NASDAQ: FTDR), the leading provider of home warranties in the U.S., has announced its plan to release third quarter 2024 financial results on Monday, November 4, 2024. The company will hold a conference call at 7:30 a.m. Central time (8:30 a.m. Eastern time) on the same day.
Participants can register for the conference call through a provided link, after which they will receive access details via email. The call will also be available as a webcast, including a slide presentation highlighting the company's results. The webcast can be accessed through Frontdoor's investor relations website.
For those unable to attend live, a replay of the call will be available for approximately 60 days. Replay access information for both phone and webcast options has been provided.
American Home Shield, a Frontdoor, Inc. (NASDAQ: FTDR) brand, is offering a 50% discount on select home warranty plans until September 26, 2024. This Labor Day promotion applies to ShieldGold and ShieldSilver base plans for new members' first year.
Home warranties are one-year service contracts covering repair and replacement costs for covered systems and appliances due to normal wear and tear. They complement homeowner's insurance by protecting items not typically covered. Kathy Collins, Frontdoor Chief Revenue Officer, emphasizes the importance of being prepared for inevitable home system and appliance breakdowns.
American Home Shield aims to protect homeowners from inconvenience and costs associated with these breakdowns, offering what they call 'warran-chi' - peace of mind when issues arise. For more details on coverage, fees, limitations, and exclusions, visit www.ahs.com/contracts.
Frontdoor, Inc. (NASDAQ: FTDR), the leading home warranty provider in the U.S., has promoted Evan Iverson to Senior Vice President and Chief Operating Officer, effective August 1, 2024. Iverson, who joined Frontdoor in 2019, will oversee the company's technology strategy and integration into service offerings, in addition to managing day-to-day operations for American Home Shield and Frontdoor brands. His responsibilities include enhancing contractor and member experiences and managing relationships with approximately 16,000 independent contractors. Chairman and CEO Bill Cobb expressed confidence in Iverson's ability to drive higher performance levels based on his track record of strong leadership and strategic insight.
Frontdoor Inc. (NASDAQ: FTDR) reported strong Q2 2024 results, with revenue increasing 4% to $542 million. Highlights include:
- Gross profit margin reached a record high of 56%, up 470 basis points
- Net income rose 32% to $92 million
- Adjusted EBITDA grew 31% to $158 million
- Board approved a new 3-year, $650M share repurchase authorization
The company maintained its full-year 2024 revenue outlook of $1.81-1.84 billion, while increasing its gross profit margin forecast to slightly above 51% and Adjusted EBITDA range to $385-395 million. Frontdoor expects to close the acquisition of 2-10 in Q4 2024.
Frontdoor, the leading home warranty provider, will announce its Q2 2024 financial results on August 1, 2024. The results will be released at 7:30 a.m. Central time (8:30 a.m. Eastern time), followed by a conference call. Participants can register for the call online and will receive access details via email. The conference call will also be available via webcast, featuring a slide presentation on the company's performance. The call and webcast replay will be accessible for approximately 60 days.