secwatch.observer — SEC 8-K summary
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Issuer:     Frontdoor, Inc. (FTDR)
CIK:        0001727263
Form:       8-K
Filed at:   2024-02-28T23:59:59+00:00
Accession:  0001193125-24-049249
Event type: earnings
Sentiment:  positive
Materiality: 0.80
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1727263/000119312524049249/0001193125-24-049249-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1727263/000119312524049249/d724198d8k.htm
  HTML page:      https://secwatch.observer/filing/0001193125-24-049249

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer