Business
Frontdoor Announces Second-Quarter 2024 Revenue Increased 4% to $542 Million
Gross Profit Margin Increased 470 bps to Record High of 56%; Net Income Increased 32% to $92 Million; Adjusted EBITDA(1) Increased 31% to $158 Million;
About this update from Frontdoor, Inc.
[{"type":"text","content":"\nGross Profit Margin Increased 470 bps to Record High of 56%; Net Income Increased 32% to $92 Million; Adjusted EBITDA(1) Increased 31% to $158 Million; Acquisition of 2-10 Anticipated to Close in the Fourth Quarter of 2024; Frontdoor Board Approves New 3-Year, $650M Share Repurchase Authorization\n\n\n MEMPHIS, Tenn.--(BUSINESS WIRE)--\nFrontdoor, Inc. (NASDAQ: FTDR), the nation’s leading provider of home warranties, today announced its second-quarter 2024 results.\n\n\n\n\nFinancial Results\n\n\n\n\n\n\n \n\n\n\n\n\n\n\n\n \n\n\n\n\n\n\n \n\n\n\n\n\n\nThree Months Ended\n\n\n\n\n\n\n \n\n\n\n\n\n\n\n\n \n\n\n\n\n\n\n \n\n\n\n\n\n\nJune 30,\n\n\n\n\n\n\n \n\n\n\n\n\n\n\n\n$ millions (except as noted)\n\n\n\n\n\n\n \n\n\n\n\n\n\n2024\n\n\n\n\n\n\n \n\n\n\n\n\n\n \n\n\n\n\n\n\n2023\n\n\n\n\n\n\n \n\n\n\n\n\n\n \n\n\n\n\n\n\nChange\n\n\n\n\n\n\n \n\n\n\n\n\n\n\n\nRevenue\n\n\n\n\n\n\n \n\n\n\n\n\n\n$\n\n\n\n\n\n\n542\n\n\n\n\n\n\n \n\n\n\n\n\n\n \n\n\n\n\n\n\n$\n\n\n\n\n\n\n523\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\n4\n\n\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\n\n\n \n\n\n\n\n\n\n306\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\n270\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\n13\n\n\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\n\n\n \n\n\n\n\n\n\n92\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\n70\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\n32\n\n\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\n\n\n \n\n\n\n\n\n\n1.18\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\n0.86\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\n38\n\n\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\n\n\n \n\n\n\n\n\n\n100\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\n71\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\n40\n\n\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\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\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\n\n\n\n\n\n \n\n\n\n\n\n\n47\n\n\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\n\n\n \n\n\n\n\n\n\n158\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\n121\n\n\n\n\n\n\n \n\n\n\n\n\n\n \n\n\...