Frontdoor Q2 revenue $523M (+7% YoY); adj. EBITDA $121M (+57%); raises FY outlook

Frontdoor, Inc.

2023-Q2 EPS reported $1.12 revenue$890,000,000

Net income $70M ($0.85 EPS) more than doubled; adjusted EPS $0.87, up 64% YoY.
Gross margin expanded 840 bps to 52% on favorable weather, lower service requests, and pricing.
Raised FY 2023 Adjusted EBITDA outlook by $40M to $260-280M; revenue guidance raised to $1.73-1.75B.
Repurchased $50M of stock YTD; increased full-year share repurchase target to ~$100M.
Renewals revenue up 15% YoY; real estate first-year revenue down 25% due to low home inventory.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.7

Frontdoor, Inc. updated its its fiscal quarter ended June 30, 2023 guidance (raised).

Period: its fiscal quarter ended June 30, 2023
Guidance: raised
Result: reported results

Exact text from the filing

On August 2, 2023, Frontdoor, Inc., issued a press release announcing its financial results for its fiscal quarter ended June 30, 2023. A copy of the press release is attached hereto as Exhibit 99.1 and incorporated herein by reference.

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Frontdoor, Inc. filing history →

Source: SEC EDGAR

accession 0001193125-23-201172

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