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. (symbol: FTDR) is a forward-thinking company dedicated to simplifying home ownership. With over 50 years of unparalleled expertise as the nation's largest provider of home service plans, Frontdoor is transforming the home services industry. The company’s mission is to take the hassle out of home repairs and maintenance, offering peace of mind to homeowners across the United States.
Frontdoor owns several well-known home service brands, including American Home Shield, HSA, OneGuard, and Landmark. These brands provide comprehensive home service plans that help customers protect their homes from unexpected and costly breakdowns of essential systems and appliances. In the past year alone, Frontdoor responded to more than four million service requests, showcasing their reliability and commitment to customer satisfaction.
The company prides itself on a dynamic culture and innovative approach. With a leadership team experienced in disrupting industries and enhancing customer experiences, Frontdoor is continuously looking for new ways to improve their services. They leverage leading digital platforms to ensure a seamless and world-class customer experience.
Frontdoor's recent achievements include expanding its digital capabilities and strengthening its service network. Their innovative solutions and dedication to excellence have positioned them as a trusted partner for homeowners nationwide.
- Core Business: Providing home service plans to maintain and protect home systems and appliances.
- Recent Achievements: Digital platform enhancements and service network expansion.
- Partnerships: Collaboration with top service providers to ensure quality repairs and maintenance.
- Financial Condition: Robust financial performance driven by a growing customer base and operational efficiencies.
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.
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.
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