Frontdoor, Inc. - FTDR STOCK NEWS

Frontdoor, Inc. (NASDAQ: FTDR) reported second-quarter 2022 results, posting revenue of $487 million, a 5% increase from $462 million in 2021. However, gross profit fell 13% to $211 million, and net income decreased 18% to $33 million. Adjusted EBITDA declined 32% to $77 million, affected by a 23% rise in claims costs due to inflation. The company updated its full-year revenue outlook to $1.63 billion to $1.65 billion. Despite challenges, management expressed confidence in long-term fundamentals and strategic improvements.

Frontdoor, Inc. (NASDAQ: FTDR), the leading provider of home service plans, will release its second-quarter 2022 financial results on August 4, 2022, at 7:30 a.m. Central time. A conference call will follow, allowing participants to dial in or join via webcast. Frontdoor serves approximately 2.2 million customers through a vast network of contractors, responding to over four million service requests annually. The company emphasizes its commitment to service innovation and customer satisfaction in home repair and maintenance.

Frontdoor (NASDAQ: FTDR) participated in the SkillsUSA National Leadership & Skills Conference to address the skilled trades workforce shortage in the U.S. Senior VP Tony Bacos emphasized the importance of attracting talent to ensure sustainable craftsmanship. The company showcased its innovative Streem remote video communication platform, enhancing customer experience and diagnostics. With over 50 years in the industry, Frontdoor serves 2.2 million customers through a network of 17,000 contractors and 60,000 technicians, processing over four million service requests annually.

Frontdoor, a leading provider of home service plans, has appointed Jessica Fields as the new vice president and chief sales officer. Fields, who has significant experience in business growth and market disruption, will oversee real estate, direct-to-consumer sales, and business development. She joins from Rocket Mortgage, where she held executive roles and managed partnerships across various sectors. This strategic hire is aimed at enhancing revenue and customer experience, leveraging Fields' deep understanding of home services and sales strategies.

Frontdoor, Inc. (NASDAQ: FTDR) announced the appointment of Kathy Collins as senior vice president and chief marketing officer. Collins brings extensive experience in marketing leadership from various sectors, including financial services and retail. Previously, she served as chief sales and marketing officer at G.E.H.A., Inc. and held roles at Massage Envy and H&R Block. Frontdoor is dedicated to simplifying home ownership with its service plans, catering to 2.2 million customers via a robust network of contractors.

Frontdoor announced that William Cobb, the current chairman, will take over as Chief Executive Officer, succeeding Rexford Tibbens effective June 1, 2022. Tibbens will stay on until June 30, 2022 in an advisory role for a smooth transition. Cobb has extensive experience, previously leading H&R Block and holding various positions at eBay. He expressed confidence in the company's direction amid macroeconomic challenges. The board also appointed Brian McAndrews as the lead independent director to enhance oversight.

Frontdoor, Inc. (NASDAQ: FTDR) reported a 7% revenue increase for Q1 2022 at $351 million, with double-digit growth in renewal and direct-to-consumer channels. Gross profit decreased by 3% to $144 million, reflecting inflationary pressures. Net income fell by 69% to $2 million, and diluted EPS dropped 67% to $0.02. The company updated its full-year revenue outlook to $1.66 billion-$1.69 billion. Challenges included a 20% decline in real estate channel revenue and rising costs, leading to an adjusted EBITDA of $25 million, down 31% year-over-year.

Frontdoor, Inc. (NASDAQ: FTDR), a top home service plan provider, will release its first-quarter 2022 financial results on May 5, 2022, at 3:30 p.m. CT. A conference call will follow, accessible by dialing 1-844-200-6205 or via webcast at investors.frontdoorhome.com. Frontdoor serves approximately 2.2 million customers through a network of 17,000 contractors, responding to over 4 million service requests annually. The call will be available for replay for 60 days.

Frontdoor, Inc. (NASDAQ: FTDR) reported strong financial performance for 2021, with net income increasing 14% to $128 million and revenue rising 9% to $1.60 billion. Gross profit reached $785 million, a 10% increase, while adjusted EBITDA rose 11% to $300 million. The company repaid approximately $350 million of debt and repurchased $103 million in stock. Looking ahead, Frontdoor projects 2022 revenue between $1.70 billion and $1.73 billion, with a gross profit margin of 46.5% to 47.5%.