Godaddy Inc Stock Price, News & Analysis

GoDaddy (NYSE: GDDY) announces that Chief Financial Officer Mark McCaffrey will present at two upcoming conferences. The first is the Credit Suisse 26th Annual Technology Conference on November 30, 2022, at 5:05 p.m. ET in Scottsdale, Arizona. The second is the Barclays Global Technology, Media and Telecommunications Conference on December 7, 2022, at 5:30 p.m. ET in San Francisco, California. Live webcasts and audio replays can be accessed on GoDaddy's investor relations website.

On November 10, 2022, GoDaddy Inc. (GDDY) announced the successful refinancing of its credit agreement, closing a new credit facility worth $1,770 million in term loans and a $1,000 million revolving credit facility. The new loans aim to refinance existing Tranche B-2 term loans and enhance liquidity, with the first installment due March 31, 2023. The terms include varied interest rates based on loan types, while the compliance period for leverage ratios has been adjusted to require a 40% utilization of the revolving facility.

GoDaddy reported third-quarter 2022 financial results, showcasing a 7% year-over-year increase in total revenue to $1.03 billion, alongside a 2% rise in net income to $100 million. Normalized EBITDA grew by 15% to $262.7 million. The company anticipates fourth-quarter revenue between $1.03 billion to $1.05 billion, reflecting 2% growth year-over-year. Despite challenges from foreign exchange fluctuations, GoDaddy remains confident in driving long-term growth, with targets set for unlevered free cash flow of approximately $1.09 billion for 2022, marking a 14% increase year-over-year.

GoDaddy Inc. (NYSE: GDDY) announced a refinancing plan involving $1,770 million in term loans maturing in 2029 and $1,000 million in revolving credit commitments maturing in 2027. The refinancing aims to replace all outstanding Tranche B-2 Term Loans. This strategic move is expected to enhance liquidity and financial flexibility. The company anticipates closing the transactions in Q4 2022, although completion is subject to customary closing conditions.

GoDaddy Inc. (NYSE: GDDY) is set to release its financial results for Q3 2022 on November 3, 2022, after market close. A live webinar will be held at 5:00 p.m. ET to discuss these results, with registration available online. GoDaddy aims to empower entrepreneurs by providing essential tools and support for their business journeys, whether online or offline. For more updates, visit their investor relations page.

GoDaddy (GDDY) announced the retirement of Independent Chair Chuck Robel effective at the 2023 annual stockholders' meeting. Robel, who has been on the Board since May 2014 and Chair since 2015, will ensure a smooth transition to Brian Sharples, a Board member since 2016, as the new Chair effective September 30, 2022. CEO Aman Bhutani acknowledged Robel's significant contributions during his tenure, while Sharples expressed enthusiasm for continuing strategic initiatives. Robel will remain a director until the upcoming annual meeting.

GoDaddy (GDDY) has launched the Microbusiness Data Hub, providing access to over 20 million microbusiness data sets across the U.S. and Great Britain. This initiative aims to assist policymakers, researchers, and entrepreneurs by offering five unique datasets, including microbusiness density and activity indices. The hub will be updated quarterly, further enriching the data available. GoDaddy's Venture Forward initiative continues to support economic development by highlighting the often-overlooked contributions of microbusinesses to local economies.

GoDaddy launched a new multi-channel campaign celebrating the entrepreneurial journeys of its customers: Hinterland Skis, the fileist, and The Furlough Cheesecake. This initiative highlights their unique business stories and showcases the support and tools provided by GoDaddy, such as GoDaddy Payments, which offers competitive fees and expert assistance. Notable achievements of these businesses include opening brick-and-mortar stores, receiving patents, and achieving significant sales milestones. GoDaddy aims to inspire entrepreneurs by promoting their customers' 'firsts' and reinforcing its commitment to small business success.