LendingTree, Inc. - TREE STOCK NEWS

LendingTree, Inc. (NASDAQ: TREE) has announced a reorganization of its leadership team, effective May 17, 2021, to enhance strategic growth initiatives. The company is focusing on three key divisions: core LendingTree marketplaces, QuoteWizard insurance, and LendingTree Next. Key appointments include Neil Salvage as President of LendingTree Marketplace, Scott Peyree as President of Insurance, and J.D. Moriarty as President of LendingTree Next, with Trent Ziegler appointed as the new CFO. This strategic alignment aims to drive innovation and scale within the organization.

LendingTree, operator of LendingTree.com, reported its first quarter 2021 financial results, showcasing a record Home segment revenue of $128.1 million, a 62% increase year-over-year. The total revenue fell to $272.8 million, down 4% from the previous year, while net income slightly increased to $19.3 million. The Insurance segment grew by 5%, yielding $86.6 million. The positive trend in the Consumer segment was noted with a 21% sequential improvement. For Q2 2021, the company predicts revenue between $263 - $273 million and a variable marketing margin of $86 - $92 million.

LendingTree conducted a survey revealing that 55% of Americans are willing to pay more for eco-friendly products. Notably, nearly 40% would consider boycotting companies lacking sustainability efforts. Younger generations are leading this trend, with 58% of Gen Z and 50% of millennials ready to boycott. 28% reported increased spending on sustainable items, particularly in food and cleaning. Additionally, 62% prefer credit card issuers committed to fighting climate change. The survey involved 1,048 participants from March 18-24, 2021.

LendingTree will announce its fiscal first quarter 2021 results on April 29, 2021, at 7:00 a.m. ET. A letter to shareholders will be posted on its investor website. A conference call will follow at 9:00 a.m. ET, accessible via webcast or by phone. Investors can dial in five minutes early, and a replay will be available until May 7, 2021. LendingTree is a leading online marketplace for financial services, connecting consumers to various financial products.

According to a recent LendingTree survey by ValuePenguin, 78% of Americans experience stress weekly, with 15% feeling it daily. The survey highlights that 44% of respondents regard the pandemic as their most stressful time. Money (22%) is identified as the leading stress source, with work and health issues following. Stress peaks on Mondays (19%) and in the mornings. Gen Xers are the most stressed generation. The survey included 1,016 U.S. consumers from March 17-22, 2021.

According to a report by LendingTree, approximately 59% of Americans adopted new hobbies during the COVID-19 pandemic, particularly among those laid off (82%), Gen Z (76%), and millennials (74%). The most common hobby was reading (61%), followed by cooking (36%) and gardening (30%). While 48% turned their hobbies into side hustles, 53% ended up with credit card debt, mainly due to purchasing special equipment. Despite this, 79% plan to continue their hobbies post-pandemic. The survey included 1,013 U.S. consumers conducted from Feb. 26 to March 1, 2021.

LendingTree has released a study revealing that 60% of Americans are burdened by medical debt, with 37% currently in debt and 23% having experienced it in the past. The average medical debt ranges between $5,000 and $9,999. Major contributors to this debt include emergency visits (39%) and surgeries (26%). Furthermore, 72% of those in debt feel it hinders major life milestones, such as saving for retirement and home ownership. Notably, 93% of individuals who negotiate medical bills successfully reduce or eliminate their debt.

According to a new report by ValuePenguin.com under LendingTree, the financial burden of adding a teenage driver at age 16 can reach $5,380 annually, equating to up to 19% of a family's income in certain states. By delaying until age 22, families can save an average of $33,091 over six years. Families in states like Michigan and Louisiana face the highest costs, while lower-income households bear significantly higher insurance premiums. Encouraging teens to wait before driving could be financially beneficial.