LendingTree, Inc. - TREE STOCK NEWS

QuoteWizard®, a LendingTree company, has identified states where essential workers face significant health insurance risks due to employer coverage deficits. The report reveals that essential workers, who are crucial during the pandemic, have a 13% uninsured rate compared to 8% for non-essential workers. Key findings show that 35% of essential workers experienced reduced hours, and 50% cannot manage a $500 medical bill. The report ranks states based on employer health coverage and essential worker percentages, with Montana having the lowest coverage at 70.6%.

LendingTree, the prominent online loan marketplace, released a study on Aug. 11, 2020, revealing significant financial disparities between Black and White Americans. Key findings show that Black men's average income is 33.7% lower than that of white men, and Black women earn 17.5% less than white women. Credit denial rates for Black adults stand at 44%, over twice that of their white counterparts. Additionally, the average cumulative student loan debt for Black graduates is $36,919, 20% higher than that for white graduates. The report indicates persistent systemic issues in economic opportunities.

LendingTree, operator of LendingTree.com, reported Q2 2020 revenue of $184.3 million, down 34% year-over-year, reflecting challenges posed by COVID-19. The Home segment showed resilience with $74.1 million in revenue, a 3% increase, while Insurance revenue grew 1% to $72.9 million. In contrast, the Consumer segment faced a 71% drop in revenue to $37.1 million. The company posted a net loss from continuing operations of $8.6 million or ($0.66) per share. Looking ahead, Q3 2020 revenue is projected between $200-215 million.

The Federal Emergency Management Agency (FEMA) has allocated over $45 billion in disaster relief since 2017, with more than 80% utilized. Texas leads with $7.6 billion, while Arizona received the least at $2.3 million. In response to COVID-19, FEMA has set aside nearly $10 billion for affected states, primarily New York and California. Additionally, $2.4 billion is committed to emergency facilities and medical supply production. Notably, FEMA's Disaster Relief Fund is expected to adjust to ongoing needs, ensuring continued financial support for Americans reliant on its aid.

ValuePenguin's recent study reveals that nearly 500,000 teachers in the U.S. lack health insurance, posing significant financial risks amid the ongoing coronavirus pandemic. Alaska has the highest uninsured rate at over 11%, followed by Texas, Idaho, Florida, and Mississippi, all at 7%. Elementary and middle school teachers face the highest uninsured rates at 34.6%, with a reported 30% increase in uninsured elementary teachers from 2017 to 2018. The study highlights the urgent need for improved health coverage among educators.

On July 28, 2020, QuoteWizard, a subsidiary of LendingTree, released a report highlighting child flu vaccination rates amidst the COVID-19 pandemic. The report indicates a significant 21.5% decline in vaccination rates from January to April 2020. Key findings include that 1.5 million teachers face increased COVID-19 risk due to low vaccination rates, with the national average at 58%. States like Rhode Island and Massachusetts exhibit high rates, while Wyoming, Florida, and Utah have the lowest. The CDC is allocating $140 million to immunization programs.

On July 28, 2020, a LendingTree survey revealed that 43% of Americans have experienced debt due to car troubles, with 28% unable to afford a $500 repair without borrowing. The situation is more critical among minorities, especially 59% of Black Americans and 52% of Hispanic Americans. The pandemic has exacerbated these issues, with 35% of furloughed individuals incurring repair debt since March 2020. A significant 58% of respondents reported skipping necessary repairs due to cost. Many consumers still prefer cash to handle repairs, but 27% rely on credit cards.

LendingTree, Inc. (NASDAQ: TREE) will release its fiscal second quarter 2020 results on August 4, 2020, at 7:00 a.m. ET. A shareholder letter will also be available on their website. The company plans to hold a conference call at 9:00 a.m. ET on the same day, accessible via a toll-free number or their website. A replay will be available starting at 12:00 p.m. ET on August 4 until August 12, 2020.