earnings
confidence high
sentiment neutral
materiality 0.70
Frontdoor Q2 2021 revenue $462M (+11% YoY); net income falls 17% on $30M debt extinguishment
Frontdoor, Inc.
2021-Q2 EPS reported
$0.53
revenue$791,000,000
- Revenue $462M (+11% YoY); renewal revenue +9%, direct-to-consumer +12%, real estate +4%.
- Net income $40M ($0.47 diluted EPS) vs $49M ($0.57) prior year; includes $30M debt extinguishment cost.
- Adjusted EBITDA $114M (+14% YoY); driven by lower service request volume and cost management.
- Full-year 2021 guidance: revenue $1.60-$1.62B, adjusted EBITDA $280-$300M, gross margin 48-49%.
- Debt refinancing reduced gross debt ~$350M; expects ~$30M annual interest savings vs 2020.