Frontdoor Announces Full-Year 2022 Revenue Increased 4% to $1.66 Billion

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[{"type":"text","content":"\nFourth Quarter Financial Results Reflect Moderation of Inflationary Cost Pressures; 2023 Gross Margins Expected to Improve from Aggressive Pricing Actions in 2022; Launching New Frontdoor Brand in the Second Quarter of 2023\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 2022 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\n2022\n\n\n\n \n\n\n\n2021\n\n\n\n \n\n\n\nChange\n\n\n\n \n\n\n\n2022\n\n\n\n \n\n\n\n2021\n\n\n\n \n\n\n\nChange\n\n\n\n\n\nRevenue\n\n\n\n \n\n\n\n$\n\n\n\n339\n\n\n\n \n\n\n\n \n\n\n\n$\n\n\n\n340\n\n\n\n \n\n\n\n \n\n\n\n--\n\n\n\n%\n\n\n\n \n\n\n\n$\n\n\n\n1,662\n\n\n\n \n\n\n\n \n\n\n\n$\n\n\n\n1,602\n\n\n\n \n\n\n\n \n\n\n\n4\n\n\n\n%\n\n\n\n\n\nGross Profit\n\n\n\n \n\n\n\n \n\n\n\n145\n\n\n\n \n\n\n\n \n\n\n\n \n\n\n\n141\n\n\n\n \n\n\n\n \n\n\n\n3\n\n\n\n%\n\n\n\n \n\n\n\n \n\n\n\n710\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\n(10\n\n\n\n)%\n\n\n\n\n\nNet Income\n\n\n\n \n\n\n\n \n\n\n\n8\n\n\n\n \n\n\n\n \n\n\n\n \n\n\n\n7\n\n\n\n \n\n\n\n \n\n\n\n24\n\n\n\n%\n\n\n\n \n\n\n\n \n\n\n\n71\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\n(45\n\n\n\n)%\n\n\n\n\n\nDiluted Earnings per Share\n\n\n\n \n\n\n\n \n\n\n\n0.10\n\n\n\n \n\n\n\n \n\n\n\n \n\n\n\n0.08\n\n\n\n \n\n\n\n \n\n\n\n29\n\n\n\n%\n\n\n\n \n\n\n\n \n\n\n\n0.87\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\n(42\n\n\n\n)%\n\n\n\n\n\nAdjusted Net Income(1)\n\n\n\n \n\n\n\n \n\n\n\n11\n\n\n\n \n\n\n\n \n\n\n\n \n\n\n\n9\n\n\n\n \n\n\n\n \n\n\n\n24\n\n\n\n%\n\n\n\n \n\n\n\n \n\n\n\n104\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\n(36\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\n0.13\n\n\n\n \n\n\n\n \n\n\n\n \n\n\n\n0.10\n\n\n\n \n\n\n\n \n\n\n\n28\n\n\n\n%\n\n\n\n \n\n\n\n \n\n\n\n1.27\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\n(33\n\n\n\n)%\n\n\n\n\n\nAdjusted EBITDA(1)\n\n\n\n \n\n\n\n \n\n\n\n33\n\n\n\n \n\n\n\n \n\n\n\n \n\n\n\n28\n\n\n\n \n\n\n\n \n\n\n\n17\n\n\n\n%\n\n\n\n \n\n\n\n \n\n\n\n214\n\n\n\n \n\n...

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