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, 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.
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.
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