Frontdoor FY23 revenue $1.78B, Adj EBITDA record $346M; FY24 outlook calls for $1.81B-$1.84B revenue

Frontdoor, Inc.

2023-FY EPS reported $2.12 revenue$1,780,000,000

FY2023 revenue $1.78B (+7% YoY); gross margin 50% (+700 bps); net income record $171M (+141%).
Adjusted EBITDA $346M (record, +62% YoY); free cash flow $170M; repurchased $120M in shares (3.6M shares).
FY2024 guidance: revenue $1.81B-$1.84B; gross margin 48.5%-49.5%; Adj EBITDA $350M-$360M; share repurchases target ~$100M.
Q4 2023: revenue $366M (+8% YoY); Adj EBITDA $45M (+35% YoY); net income $9M (diluted EPS $0.11).
CEO Bill Cobb cites 'exceptional turnaround' with margins at highest in nearly 10 years; expects modest revenue growth in 2024.

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 0.9

Frontdoor, Inc. reported its fiscal quarter and year ended December 31, 2023 results: revenue $ 1,780 $ 1,662 7 %, net income 171 71 141 %, EPS 2.12 0.87 144 %. Guidance initiated.

Period: its fiscal quarter and year ended December 31, 2023
Revenue: $ 1,780 $ 1,662 7 %
Net income: 171 71 141 %
EPS: 2.12 0.87 144 %
Guidance: initiated
Result: reported results

Exact text from the filing

as shall be expressly set forth by specific reference in such filing. --- EX-99.1 (EX-99.1) --- EX-99.1 Exhibit 99.1 Frontdoor Announces Full-Year 2023 Revenue Increased 7% to $1.78 Billion; Gross Profit Margin Rebounded 700 bps to 50% in 2023; Record Net Income of $171 Million and Adjusted EBITDA (1) of $346 Million; $120 Million Utilized to

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Source: SEC EDGAR

accession 0001193125-24-049249

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