secwatch.observer — SEC 8-K summary
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Issuer:     Frontdoor, Inc. (FTDR)
CIK:        0001727263
Form:       8-K
Filed at:   2022-05-05T23:59:59+00:00
Accession:  0001193125-22-142303
Event type: earnings
Sentiment:  negative
Materiality: 0.85
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Frontdoor Q1 revenue +7% to $351M but profit plunges; FY22 EBITDA guidance cut to $215-245M
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- Revenue $351M (+7% YoY); renewal +10%, DTC +14%, real estate -20% on seller's market.
- Net income $2M (diluted EPS $0.02) vs $5M ($0.06) in Q1 2021; adjusted EPS $0.04 vs $0.10.
- Adjusted EBITDA $25M (-31% YoY); inflationary cost pressures added $24M in contract claims costs, including $9M adverse prior-year development.
- FY2022 guidance lowered: revenue $1.66-1.69B, gross margin 44-45%, Adj. EBITDA $215-245M.
- Repurchased $40M of shares in Q1; available liquidity $340M.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1727263/000119312522142303/0001193125-22-142303-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1727263/000119312522142303/d309953d8k.htm
  HTML page:      https://secwatch.observer/filing/0001193125-22-142303

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