LendingTree, Inc. - TREE STOCK NEWS

LendingTree's recent report reveals that 35% of Americans are considering applying for a store credit card this holiday season—an increase from 29% last year. The most popular store card is from Kohl's, representing 9.5% of store cards nationwide. The highest concentration of store card holders is in Nashville (47.5%) and Baton Rouge (47.2%). While many consumers are eager to use store cards to save money, nearly 40% of current holders regret at least one of their cards. Caution is advised due to high interest rates on store cards.

LendingTree has relaunched its Lender Summit to address post-pandemic challenges, featuring the 2022 LendingTree Innovation Challenge. Nine fintech companies competed, with Botsplash and ProPair being crowned winners for their innovative solutions. Botsplash offers an omnichannel engagement platform, while ProPair's DECISIONS platform utilizes machine learning to optimize lead management for lenders. LendingTree enhances consumer access to financial products and has assisted over 111 million customers. This event highlights the company's commitment to innovation in the mortgage sector.

LendingTree, Inc. (NASDAQ: TREE) announced its participation in the Stephens Annual Investment Conference from November 15-17, 2021, held at the Grand Hyatt Nashville. Trent Ziegler, CFO, and Andrew Wessel, VP of Investor Relations, will engage in a fireside chat on November 16 at 9:00 a.m. ET. The session will be available for live streaming and later archived on the company's investor relations website. LendingTree continues to empower consumers by connecting them with over 500 partners to make informed financial decisions.

LendingTree will host its first lender Summit in over 10 years on November 9, 2022, at Bank of America Stadium in Charlotte, N.C.. This event aims to reconnect with its lender network and discuss industry challenges and opportunities. The Summit will feature keynote speaker Greg Olsen and industry experts such as Doug Duncan and Dale Vermillion. Additionally, the Innovation Challenge will showcase nine technology-driven solutions poised to transform mortgage lending. LendingTree, traded as NASDAQ: TREE, is a leading online marketplace offering various financial products.

LendingTree reported a consolidated revenue of $237.8 million for Q3 2022, down 20% year-over-year. The company experienced a GAAP net loss from continuing operations of $(158.7 million), resulting in a loss per diluted share of $(12.44). Despite macroeconomic headwinds, the Consumer segment grew 3% year-over-year, with personal loans revenue increasing by 12%. The Home segment saw a 42% decline, primarily due to lower mortgage demand. The company maintains a strong cash position of $286 million and is implementing cost reductions to enhance financial flexibility.

LendingTree, Inc. (NASDAQ: TREE) will release its fiscal third quarter 2022 results on November 3, 2022, at 7:00 a.m. ET. A letter to shareholders will be available on the company's investor relations website. Following the earnings report, a conference call will occur at 9:00 a.m. ET, which will also be webcast live. LendingTree connects consumers with over 500 financial service partners, enabling side-by-side comparisons on services such as mortgages, personal loans, and insurance.

LendingTree reported Q2 2022 results, revealing a consolidated revenue of $261.9 million, down 3% year-over-year. The company experienced a net loss of $8.0 million or $(0.63) per diluted share. Notably, the Home segment's revenue fell 30% to $73.9 million, while the Consumer segment grew 40% to $106.1 million. Adjusted EBITDA was $28.6 million, reflecting structural improvements. Looking forward, the guidance for Q3 suggests revenue of $235 - $245 million, with a full-year revenue outlook of $985 - $1,015 million.

LendingTree has announced a significant enhancement to its customer experience, focusing on empowering consumers with improved financial tools and resources. The rebranding initiative includes an omni-channel marketing campaign and a new tagline: 'When banks compete, you win!' LendingTree aims to support individuals facing economic challenges, as 83% of credit cardholders are impacted by inflation. The company has facilitated $260 billion in loan funding and emphasizes personalized financial guidance. Key features include a redesigned homepage, tailor-made customer journeys, and free Insurance Check-Ups.

LendingTree has launched its first celebrity-led marketing campaign, featuring Molly Shannon, to simplify financial decision-making for consumers. The campaign aims to educate consumers about their options for loans amid rising debt and interest rates. Shannon portrays a relatable character, promoting the message that LendingTree can help users save money. Chief Marketing Officer Shiv Singh emphasizes the mission to rebuild trust and foster confidence in financial decisions. The campaign marks a return to television advertising and aims to highlight the company's extensive network of over 700 partners.