Welcome to our dedicated page for LendingTree news (Ticker: TREE), a resource for investors and traders seeking the latest updates and insights on LendingTree stock.
LendingTree, Inc. (NASDAQ: TREE) is a premier online loan marketplace designed to simplify the financing process for consumers in the United States. Headquartered in Charlotte, NC, LendingTree offers a broad array of financial products through its extensive network of over 500 financial partners. The company's primary offerings include home loans, personal loans, auto loans, credit cards, student loans, small business loans, and insurance products.
Founded with the goal of providing consumers with competitive loan options, LendingTree allows users to complete a single online loan request and receive multiple real offers from various lenders. This transparent approach enables users to compare and select the offer that best fits their financial needs. The company operates three main segments: Home, Consumer, and Insurance.
Recent achievements highlight LendingTree's robust leadership and growth. In 2023, Scott Peyree was appointed Chief Operating Officer and President of Marketplace Businesses. Under Peyree’s leadership, the company has seen enhanced operational efficiencies and strategic growth, particularly within its insurance vertical.
Financially, LendingTree has demonstrated resilience amid challenging economic conditions. In the third quarter of 2023, the company reported an Adjusted EBITDA of $22 million, achieving an EBITDA margin of 14%. This success is attributed to disciplined expense management and strategic operational improvements.
LendingTree's latest innovation, the LendingTree Spring app, launched in 2024, underscores the company's commitment to financial wellness. The app is designed to help users cultivate smart money habits, providing them with personalized financial strategies to manage their credit health and finances effectively.
In March 2024, LendingTree secured up to $175 million in financing from Apollo Funds, strengthening their financial position and enabling further innovation across their product offerings. The company continues to focus on profitability and growth, with strong performance in the insurance segment and stable conditions in the consumer lending space.
LendingTree continues to adapt and navigate the economic landscape, using advanced analytics and proprietary systems to optimize marketing strategies and match consumers with the best financial products available. For more information, visit www.lendingtree.com.
D.A. Davidson & Co. has acted as the exclusive advisor for EarnUp's oversubscribed Series C funding round, which attracted strategic investments from LendingTree (NASDAQ:TREE) and KeyBank (NYSE:KEY), as well as from top institutional investors like Bain Capital Ventures. EarnUp, a San Francisco-based platform, automates loan payment scheduling, managing over $10 billion in payments. The funding aims to enhance enterprise products to benefit mortgage companies and borrowers, reflecting EarnUp's commitment to a fair financial system.
The recent LendingTree survey highlights significant financial impacts of the COVID-19 pandemic on Americans. About 30% of respondents incurred credit card debt, with inflation (48%) and income loss (34%) as primary factors. Notably, 28% of cardholders paid bills late, particularly among parents (45%) and millennials (42%). 14% reported credit limit reductions. Despite challenges, 30% improved their credit scores during this period. Additionally, one-third of Americans pursued new credit cards for rewards, indicating a shift in credit card strategies.
According to a March 2022 survey by LendingTree, 46% of parents reported their children secretly using credit or debit cards without permission, a significant rise from 29% in 2018. The average unauthorized spending amounts to over $500. The survey found that 60% of parents have allowed their children to borrow cards, with nearly half regretting it. Conflicts about money, especially related to unauthorized card use, are common, with 1 in 4 parents arguing about it last month. The survey highlights the impact of technology on spending behaviors among children.
LendingTree reported its fourth-quarter 2021 results, showcasing total revenue of $258.3 million, a 16% increase year-over-year. The Consumer segment saw remarkable growth, with revenue up 102% to $96.4 million, while the Home segment revenue grew 8% to $96.3 million. However, the Insurance segment faced challenges, declining by 24% to $65.4 million. The company anticipates 2022 revenue between $1.2 billion and $1.25 billion, reflecting 9%-14% growth.
According to LendingTree's survey, Super Bowl spending is projected to decline by 19% compared to last year, with average expected expenditures dropping from $108 to $88. Additionally, 28% of respondents indicated they will not watch the game, up from 21% in 2021. Northeasterners anticipate spending the most at $144, despite their teams being eliminated. 30% of Americans plan to bet on the game, with 1 in 3 using credit cards for their wagers. The survey highlights changing consumer habits influenced by financial constraints.
LendingTree, operator of LendingTree.com, announced it will release its fiscal fourth quarter 2021 results on February 25, 2022, at 7:00 a.m. ET. A shareholder letter will also be posted on the company's website. A conference call is scheduled for 9:00 a.m. ET on the same day, available via webcast. Interested participants can join the call by dialing in five minutes prior to start. Replay of the call will be accessible until March 5, 2022.
LendingTree, operator of LendingTree.com, announced revisions to its 2021 guidance and provided financial outlook for 2022 during a virtual Analyst and Investor Event on February 2, 2022. The company projects fourth-quarter revenue at $258 million, contributing to an estimated full-year revenue of $1.098 billion. For 2022, anticipated revenue ranges from $1.2 billion to $1.25 billion, indicating a growth of 9%-14% over 2021. Adjusted EBITDA is expected to be $160 million to $180 million, representing a 19%-34% increase.
According to a recent LendingTree survey, Valentine's Day spending is set to rise by 44% this year, with couples planning to spend an average of $208. This increase follows a dip during the pandemic. Notably, spending peaks at $247 among couples together for one to two years. A significant portion of consumers (30%) anticipate incurring credit card debt due to this spending, with dining out gaining popularity—37% of couples opting for a special dinner out compared to 26% last year. The survey highlights a renewed enthusiasm for Valentine's Day celebrations.
LendingTree, a leading online financial services marketplace, has launched TreeQual, an automated pre-approval platform. This initiative aims to enhance consumer access to financial products by collaborating with founding partners Mercury Financial, Avant, and Ally Credit Card. TreeQual enables lenders to identify qualified members efficiently, allowing users to compare pre-approved offers confidently. The platform enhances the user experience while delivering high-quality consumers to partners. As a result, LendingTree reinforces its mission of advocating for consumers in financial services.
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