Business
Frontdoor Announces Full-Year 2021 Revenue Increased 9 Percent to $1.602 Billion
Gross Profit Increased 10 Percent to $785 Million Net Income Increased 14 Percent to $128 Million Adjusted EBITDA Increased 11 Percent to $300 Million Repaid
About this update from Frontdoor, Inc.
[{"type":"text","content":"\nGross Profit Increased 10 Percent to $785 Million\nNet Income Increased 14 Percent to $128 Million\nAdjusted EBITDA Increased 11 Percent to $300 Million\nRepaid Approximately $350 Million of Debt\nRepurchased $103 Million of Stock Under Share Repurchase Program \n\n MEMPHIS, Tenn.--(BUSINESS WIRE)--\nFrontdoor, Inc. (NASDAQ: FTDR), the nation’s leading provider of home service plans, today announced fourth-quarter and full-year 2021 results.\n\n\n\nFinancial Results\n\n\n\n\n\n \n\n\n\n \n\n\n\nThree Months Ended\n\n\n\n \n\n\n\nYear Ended\n\n\n\n\n\n \n\n\n\n \n\n\n\nDecember 31,\n\n\n\n \n\n\n\nDecember 31,\n\n\n\n\n\n$ millions (except as noted)\n\n\n\n \n\n\n\n2021\n\n\n\n \n\n\n\n2020\n\n\n\n \n\n\n\nChange\n\n\n\n \n\n\n\n2021\n\n\n\n \n\n\n\n2020\n\n\n\n \n\n\n\nChange\n\n\n\n\n\nRevenue\n\n\n\n \n\n\n\n$\n\n\n\n340\n\n\n\n \n\n\n\n$\n\n\n\n323\n\n\n\n \n\n\n\n5\n\n\n\n \n\n\n\n%\n\n\n\n \n\n\n\n$\n\n\n\n1,602\n\n\n\n \n\n\n\n$\n\n\n\n1,474\n\n\n\n \n\n\n\n9\n\n\n\n \n\n\n\n%\n\n\n\n\n\nGross Profit\n\n\n\n \n\n\n\n \n\n\n\n141\n\n\n\n \n\n\n\n \n\n\n\n137\n\n\n\n \n\n\n\n2\n\n\n\n \n\n\n\n%\n\n\n\n \n\n\n\n \n\n\n\n784\n\n\n\n \n\n\n\n \n\n\n\n716\n\n\n\n \n\n\n\n10\n\n\n\n \n\n\n\n%\n\n\n\n\n\nNet Income\n\n\n\n \n\n\n\n \n\n\n\n7\n\n\n\n \n\n\n\n \n\n\n\n2\n\n\n\n \n\n\n\n283\n\n\n\n \n\n\n\n%\n\n\n\n \n\n\n\n \n\n\n\n128\n\n\n\n \n\n\n\n \n\n\n\n112\n\n\n\n \n\n\n\n14\n\n\n\n \n\n\n\n%\n\n\n\n\n\nDiluted Earnings per Share\n\n\n\n \n\n\n\n \n\n\n\n0.08\n\n\n\n \n\n\n\n \n\n\n\n0.02\n\n\n\n \n\n\n\n288\n\n\n\n \n\n\n\n%\n\n\n\n \n\n\n\n \n\n\n\n1.50\n\n\n\n—\n\n\n\n—\n\n\n\n1.31\n\n\n\n \n\n\n\n14\n\n\n\n \n\n\n\n%\n\n\n\n\n\nAdjusted Net Income(1)\n\n\n\n \n\n\n\n \n\n\n\n9\n\n\n\n \n\n\n\n \n\n\n\n7\n\n\n\n \n\n\n\n21\n\n\n\n \n\n\n\n%\n\n\n\n \n\n\n\n \n\n\n\n161\n\n\n\n \n\n\n\n \n\n\n\n132\n\n\n\n \n\n\n\n22\n\n\n\n \n\n\n\n%\n\n\n\n\n\nAdjusted Diluted Earnings per Share(1)\n\n\n\n \n\n\n\n \n\n\n\n0.10\n\n\n\n \n\n\n\n \n\n\n\n0.08\n\n\n\n \n\n\n\n23\n\n\n\n \n\n\n\n%\n\n\n\n \n\n\n\n \n\n\n\n1.89\n\n\n\n—\n\n\n\n—\n\n\n\n1.55\n\n\n\n \n\n\n\n22\n\n\n\n \n\n\n\n%\n\n\n\n\n\nAdjusted EBITDA(1)\n\n\n\n \n\n\n\n \n\n\n\n28\n\n\n\n \n\n\n\n \n\n\n\n32\n\n\n\n \n\n\n\n(13\n\n\n\n)\n\n\n\n%\n\n\n\n \n\n\n\n \n\n\n\n300\n\n\n\n \n\n\n\n \n\n\n\n270\n\n\n\n \n\n\n\n11\n\n\n\n \n\n\n\n%\n\n\n\n\n\nHome Service Plans (n...