LendingTree cuts Q2 2022 guidance; cites interest rate headwinds and slower insurance recovery

LendingTree, Inc.

Revenue now expected $259-264M vs prior $283-293M; variable marketing margin $88-92M vs $100-106M.
Adjusted EBITDA guidance lowered to $26-29M from $35-40M.
Home segment pressured as mortgage rates nearly doubled; refinance volumes fell sharply.
Consumer segment performing well with ~40% growth expected in Q2; Insurance recovery slower than anticipated.
Annual guidance under review; will provide revised outlook with formal Q2 results next month.

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