Press release
LENDINGTREE REPORTS SECOND QUARTER 2022 RESULTS
Second quarter results in-line with revised guidance range - Macroeconomic headwinds continue to impact Home and Insurance, Consumer remains resilient
About this update from Lendingtree, Inc.
[{"type":"text","content":"Second quarter results in-line with revised guidance range - Macroeconomic headwinds continue to impact Home and Insurance, Consumer remains resilient \nConsolidated revenue of $261.9 millionGAAP net loss from continuing operations of $8.0 million or $(0.63) per diluted shareVariable marketing margin of $90.8 millionAdjusted EBITDA of $28.6 millionAdjusted net income per share of $0.58CHARLOTTE, N.C., July 28, 2022 /PRNewswire/ -- LendingTree, Inc. (NASDAQ: TREE), operator of LendingTree.com, the nation's leading online financial services marketplace, today announced results for the quarter ended June 30, 2022.\n\n \n \n \n \n \n \n\n \nThe company has posted a letter to shareholders on the company's website at investors.lendingtree.com.\n\"We made significant progress on our main strategic initiatives and are committed to improving the experience for LendingTree customers,\" said Doug Lebda, Chairman and CEO. \"This month we launched an omnichannel celebrity-led marketing campaign. We are returning to TV advertising after a three year absence when many of our competitors are pulling back, taking advantage of decreased rates to gain maximum exposure and draw attention to the early results of our strategic work. We have endured multiple business cycles and economic recessions since the company was founded over 25 years ago, and each time we emerged as a stronger and more profitable business. We are investing into this period of historically elevated inflation and higher interest rates with an eye towards the other side of this cycle, using our strong balance sheet to position ourselves as the premiere destination for consumers looking for help with all of their financial decisions.\"\nTrent Ziegler, CFO, added, \"Our second quarter results were squarely in-line with the revised ranges provided in late June, and Adjusted EBITDA was relatively flat to the first quarter's results despite continued worsening of the macroeconomic climate. We expect the environment to remain challenging in Home and Insurance through the remainder of the year and acknowledge the prospects for our Consumer segment are increasingly uncertain. These concerns are appropriately reflected in our revised outlook for the remainder of year. Despite these concerns, we remain focused on delivering structural improvements to our business, renewing our commitment to...