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LendingTree Inc (NASDAQ: TREE), a leading online financial marketplace, provides this centralized hub for investors and financial professionals seeking authoritative news updates. Track all official press releases, strategic developments, and market analyses related to TREE's operations in consumer lending, insurance services, and digital financial solutions.
This resource offers real-time access to critical updates including quarterly earnings reports, partnership announcements, product innovations, and regulatory filings. Investors gain a competitive edge through comprehensive coverage of TREE's performance across its Home, Consumer, and Insurance segments.
Bookmark this page to monitor LendingTree's evolving position in the competitive lending marketplace, with verified updates on marketing strategies, lender network expansions, and consumer financial trends. Our curated news feed ensures you never miss developments impacting TREE's market performance or industry leadership.
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.
According to a recent survey by CompareCards, approximately 70 million credit cardholders experienced involuntary credit limit reductions or account closures from mid-May to mid-July 2020. This represents more than one-third of credit card users. Notably, 34% reported having their limits reduced, with many experiencing cuts of $1,000 or less. Reasons cited include credit score declines, inactivity, and missed payments. Although the number of affected cardholders grew, the pace of these actions appeared to slow slightly. Men, high-income individuals, and parents with young children were the most impacted groups.
LendingTree, Inc. (NASDAQ: TREE) announced the pricing of a private offering of $500 million of 0.50% convertible senior notes due 2025. The offering, expected to close around July 24, 2020, will provide approximately $486.6 million in net proceeds. The notes have a conversion rate of 2.1683 shares per $1,000, representing a 30% premium over the last stock price. Proceeds will fund a convertible note hedge, repurchase $130.3 million of existing convertible notes due 2022, and support general corporate purposes. The offering is made under Rule 144A and is exempt from registration.
LendingTree, Inc. (NASDAQ: TREE) announced its intention to offer $500.0 million in convertible senior notes due 2025 in a private placement, with an option for an additional $75.0 million. The notes will be senior, unsecured obligations, paying interest semi-annually starting January 15, 2021, and maturing on July 15, 2025. Proceeds are expected to cover costs associated with note hedge transactions and repurchase existing notes due 2022. The offering is targeted at qualified institutional buyers and is not registered under the Securities Act.
