LendingTree, Inc. - TREE STOCK NEWS

LendingTree, Inc. (NASDAQ: TREE) will release its fiscal first quarter 2022 results on May 5, 2022, at 7:00 a.m. ET. A letter to shareholders will be available on their website. The company will also host a conference call at 9:00 a.m. ET that day, which can be accessed by dialing 877-606-1416. A replay will be available from May 5 to May 13, 2022, at specified numbers. LendingTree connects consumers with financial services, offering a wide range of products, including loans and credit monitoring.

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.