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.
American Home Shield, a Frontdoor brand (NASDAQ: FTDR), is offering new members a 50% discount on its popular ShieldGold and ShieldSilver home warranty plans for a time. ShieldSilver covers 14 major systems, including heating, cooling, electrical, and plumbing, for approximately $20 per month with the discount. ShieldGold extends this protection to 23 items, including nine everyday appliances, for about $30 per month. Chief Revenue Officer Kathy Collins highlights the growing home repair costs and the importance of safeguarding homeowners from unexpected breakdowns. The discount applies to new members for the first-year base plans of ShieldGold and ShieldSilver. For more details, visit www.ahs.com.
Frontdoor, the leading U.S. home warranty provider, signed an exclusive deal with Moen to install its Flo Smart Water Monitor and Shutoff in California. This initiative targets homeowners purchasing Flo via home insurance provider programs. The mandate by insurers to install such devices aims to decrease water damage claims by up to 96%. The agreement, effective June 7, will leverage Frontdoor's vast network of plumbing contractors for thousands of monthly installations. Additionally, Flo customers will receive a year of Frontdoor Unlimited membership, including unlimited video chats with experts and access to local pros.
Frontdoor, a leading provider of home warranties, announced an agreement to acquire 2-10 Home Buyers Warranty (2-10 HBW) for $585 million in cash. The acquisition, expected to close in Q4 2024, will diversify and expand Frontdoor's customer base by incorporating 2-10 HBW's new home structural warranties, which cover approximately 20% of new homes built in the U.S. This move is projected to increase Frontdoor's revenue and earnings, with 2-10 HBW contributing $198 million in revenue and $43 million in adjusted EBITDA in 2023. The acquisition is supported by a fully committed bridge facility and cash, with permanent financing expected through new debt. The transaction awaits regulatory approval and customary closing conditions.
Frontdoor, a leading provider of home warranties, announced its participation at William Blair's 44th Annual Growth Stock Conference. CEO Bill Cobb and CFO will present at the event, with Cobb delivering a keynote on June 5, 2024. The presentation will be available via a live webcast and replayable for 90 days on Frontdoor's investor website.
American Home Shield, a leading provider of home warranty plans and a Frontdoor company (NASDAQ: FTDR), is offering a Memorial Day savings of 25% off on new home warranty plans. This promotion is available until May 28, 2024. The warranty covers up to 23 major home systems and appliances, including HVAC, refrigerators, water heaters, and washers and dryers. These plans cover repair and replacement costs due to normal wear and tear, providing peace of mind for homeowners.
Frontdoor (NASDAQ: FTDR), the leading U.S. home warranty provider, announced that CEO Bill Cobb and CFO Jessica Ross will present at the J.P. Morgan 52nd Annual Global Technology, Media and Communications Conference. The presentation, scheduled for May 21, 2024, will include a live fireside chat. Investors can access the audio webcast live via a provided link, and a replay will be available on Frontdoor’s investor relations website for 30 days.
Frontdoor, Inc. (NASDAQ: FTDR) announced the launch of its New HVAC Program, providing special pricing on new HVAC systems for American Home Shield members and Frontdoor app users. The program includes free inspections, exclusive member savings on top brands, flexible payment options, and potential tax credits. A new HVAC system can save homeowners money on energy bills, offer quieter operation, and improve air circulation. The program aims to help homeowners upgrade before the federal refrigerant phase-down in 2025 to avoid higher costs.
Frontdoor, Inc. (NASDAQ: FTDR) reported a 3% revenue increase to $378 million in the first quarter of 2024. The company also saw significant growth in gross profit margin, net income, and Adjusted EBITDA. Frontdoor is optimistic about the relaunch of the American Home Shield brand, aiming to boost demand. The financial performance exceeded expectations, leading to raised outlooks for gross profit margin and Adjusted EBITDA for the full year 2024.
Frontdoor, Inc. (NASDAQ: FTDR) announced that its Frontdoor app has surpassed two million downloads since its launch a year ago. The app allows homeowners to connect with experts for home repair and maintenance needs, offering features like video chat, local vetted pros, exclusive pricing on HVAC systems, and how-to tips. Users can opt for a free version or pay $25 a year for Frontdoor Unlimited, which includes unlimited video chat sessions and discounts on various home services. A -time offer allows consumers to gift a Frontdoor Unlimited membership for $25 and get a second membership for just $1. The app is available on iOS and Android.
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