LendingTree Q1 revenue $200.5M (-29% YoY), cuts FY guidance to $760-800M

LendingTree, Inc.

2023-Q1 EPS reported $1.04 revenue$200,508,000

GAAP net income $13.5M ($1.04 diluted), includes $30.9M gain on debt repurchase; adjusted EPS $0.25.
Revenue down 29% YoY; Home segment revenue $43.7M (-57%), Insurance down 4% to $77.1M.
Reduced workforce by 13% and winding down Ovation Credit Services; closed Medicare agency.
Retired $191M principal of 2025 convertible notes for $156M cash; ended quarter with $150M cash.
FY 2023 revenue guidance cut to $760-800M (from $935-985M); Q2 revenue guided $190-200M.

item 2.02 item 9.01

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 0.95

LendingTree, Inc. reported the quarter ended March 31, 2023 results: revenue $200.5 million, net income $13.5 million, EPS $1.04 per diluted share. Guidance lowered.

Period: the quarter ended March 31, 2023
Revenue: $200.5 million
Net income: $13.5 million
EPS: $1.04 per diluted share
Guidance: lowered
Result: reported results

Exact text from the filing

--- EX-99.1 (EX-99.1) --- LENDINGTREE REPORTS FIRST QUARTER 2023 RESULTS Strategic Expense Reductions Help Offset Continued Economic Headwinds • Consolidated revenue of $200.5 million • GAAP net income of $13.5 million or $1.04 per diluted share, inclusive of a gain of $30.9 million from the partial repurchase of our 2025 convertible notes at a discount •

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accession 0001434621-23-000005

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