Here at Zacks, we focus on our proven ranking system, which places an emphasis on earnings estimates and estimate revisions, to find winning stocks. But we also understand that investors develop their own strategies, so we are constantly looking at the latest trends in value, growth, and momentum to find strong companies for our readers.Considering these trends, value investing is clearly one of the most preferred ways to find strong stocks in any type of market. Value investors use tried-and-true metrics a ...

The proven Zacks Rank system focuses on earnings estimates and estimate revisions to find winning stocks. Nevertheless, we know that our readers all have their own perspectives, so we are always looking at the latest trends in value, growth, and momentum to find strong picks.Considering these trends, value investing is clearly one of the most preferred ways to find strong stocks in any type of market. Value investors use a variety of methods, including tried-and-true valuation metrics, to find these stocks. ...

Frontdoor, Inc. (FTDR) reported impressive fourth-quarter 2023 earnings, which strongly surpassed the Zacks Consensus Estimate and increased on a year-over-year basis.Net revenues also beat the analysts’ expectations and rose from the previous year’s number on solid pricing.Shares of this home repair and maintenance provider tumbled 5.8% on Feb 28, after the earnings release. This might be due to bleak first-quarter 2024 revenues and adjusted EBITDA guidance.FTDR’s chairman and chief executive officer, Bill ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Delaware 82-3871179 3400 Players Club Parkway, Memphis, Tennessee 38125 (Address of principal executive offices) (Zip Code) 901-701-5000 FORM 10-K ________________________________________________ For the transition period from to Commission file number 001-38617 ________________________________________________ Frontdoor, Inc. (Exact name of registrant as specified in its charter) WASHINGTON, D.C. 20549 ________________________________________________ (State o ...

| --- | --- | --- | --- | --- | --- | |-----------------------------------------------------------------------|-------|-------|-------|-------|-------| | | | | | | | | | | | | | | | | | | | | | | Fourth-Quarter & Full-Year 2023 Earnings Webcast February 28 , 2024 | | | | | | | | | | | | | Bill Cobb Jessica Ross Matt Davis Forward Looking Statements Non-GAAP Financial Measures 3 Financial Performance Revenue increased 7% to $1.78B Adjusted EBITDA(1) rose 62% to a record $346M Took aggressive actions on infla ...

Frontdoor (FTDR) came out with quarterly earnings of $0.20 per share, beating the Zacks Consensus Estimate of $0.02 per share. This compares to earnings of $0.13 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of 900%. A quarter ago, it was expected that this home services provider would post earnings of $0.54 per share when it actually produced earnings of $0.94, delivering a surprise of 74.07%.Over the last four quarters, the c ...

MEMPHIS, Tenn.--(BUSINESS WIRE)--Frontdoor, Inc. (NASDAQ: FTDR), the nation’s leading provider of home warranties, today announced fourth-quarter and full-year 2023 results.                                       Financial Results     Three Months Ended   Year Ended     December 31,   December 31, $ millions (except as noted)   2023   2022   Change   2023   2022   Change ...

Exhibit 99.1 Frontdoor Announces Full-Year 2023 Revenue Increased 7% to $1.78 Billion; Gross Profit Margin Rebounded 700 bps to 50% in 2023; Record Net Income of $171 Million and Adjusted EBITDA(1) of $346 Million; $120 Million Utilized to Repurchase 3.6 Million Shares; Targeting Higher Revenue and Adjusted EBITDA(1) in 2024 MEMPHIS, TENN. — February 28, 2024 — Frontdoor, Inc. (NASDAQ: FTDR), the nation's leading provider of home warranties, today announced fourth-quarter and full-year 2023 results. | Finan ...

Analysts on Wall Street project that Frontdoor (FTDR) will announce quarterly earnings of $0.02 per share in its forthcoming report, representing a decline of 84.6% year over year. Revenues are projected to reach $358.73 million, increasing 5.8% from the same quarter last year.The consensus EPS estimate for the quarter has remained unchanged over the last 30 days. This reflects how the analysts covering the stock have collectively reevaluated their initial estimates during this timeframe.Prior to a company' ...

[PART I. FINANCIAL INFORMATION](index=4&type=section&id=Part%20I.%20Financial%20Information) This section presents unaudited financial statements, management's analysis, market risk, and internal controls [ITEM 1. FINANCIAL STATEMENTS (UNAUDITED)](index=4&type=section&id=Item%201.%20Financial%20Statements%20(Unaudited)) This section presents unaudited condensed consolidated financial statements, including operations, position, equity, and cash flows, with detailed notes [Condensed Consolidated Statements of Operations and Comprehensive Income](index=4&type=section&id=Condensed%20Consolidated%20Statements%20of%20Operations%20and%20Comprehensive%20Income) This section details financial performance, including revenue, gross profit, net income, and EPS Key Financial Highlights (Three Months Ended September 30) | Metric | 2023 (Millions) | 2022 (Millions) | Change (%) | | :----------------------------- | :-------------- | :-------------- | :--------- | | Revenue | $524 | $484 | 8% | | Gross Profit | $268 | $210 | 27% | | Net Income | $71 | $28 | 154% | | Basic EPS | $0.89 | $0.34 | 162% | | Diluted EPS | $0.89 | $0.34 | 162% | Key Financial Highlights (Nine Months Ended September 30) | Metric | 2023 (Millions) | 2022 (Millions) | Change (%) | | :----------------------------- | :-------------- | :-------------- | :--------- | | Revenue | $1,414 | $1,322 | 7% | | Gross Profit | $708 | $565 | 25% | | Net Income | $163 | $63 | 159% | | Basic EPS | $2.01 | $0.77 | 161% | | Diluted EPS | $2.00 | $0.77 | 159% | [Condensed Consolidated Statements of Financial Position](index=5&type=section&id=Condensed%20Consolidated%20Statements%20of%20Financial%20Position) This section outlines the company's assets, liabilities, and equity at specific points in time Financial Position Highlights (September 30, 2023 vs. December 31, 2022) | Metric | Sep 30, 2023 (Millions) | Dec 31, 2022 (Millions) | Change (Millions) | | :-------------------------- | :---------------------- | :---------------------- | :---------------- | | Total Current Assets | $429 | $330 | +$99 | | Total Assets | $1,168 | $1,082 | +$86 | | Total Current Liabilities | $364 | $364 | $0 | | Long-Term Debt | $580 | $592 | -$12 | | Total Shareholders' Equity | $171 | $61 | +$110 | [Condensed Consolidated Statements of Changes in Equity (Deficit)](index=6&type=section&id=Condensed%20Consolidated%20Statements%20of%20Changes%20in%20Equity%20(Deficit)) This section tracks changes in shareholders' equity, including net income, stock compensation, and share repurchases - **Total Shareholders' Equity** increased from **$47 million** as of September 30, 2022, to **$171 million** as of September 30, 2023, for the nine-month period[20](index=20&type=chunk) - Key drivers for the nine months ended September 30, 2023, include **net income** of **$163 million**, **stock-based compensation expense** of **$21 million**, and **common stock repurchases** of **$(76) million**[20](index=20&type=chunk) [Condensed Consolidated Statements of Cash Flows](index=7&type=section&id=Condensed%20Consolidated%20Statements%20of%20Cash%20Flows) This section summarizes cash inflows and outflows from operating, investing, and financing activities Cash Flow Summary (Nine Months Ended September 30) | Activity | 2023 (Millions) | 2022 (Millions) | Change (Millions) | | :-------------------------------- | :-------------- | :-------------- | :---------------- | | Net Cash Provided from Operating Activities | $139 | $80 | +$59 | | Net Cash Used for Investing Activities | $(23) | $(25) | +$2 | | Net Cash Used for Financing Activities | $(88) | $(74) | -$14 | | Cash Increase (Decrease) During the Period | $28 | $(19) | +$47 | | Cash and Cash Equivalents at End of Period | $320 | $244 | +$76 | [Notes to Condensed Consolidated Financial Statements](index=8&type=section&id=Notes%20to%20Condensed%20Consolidated%20Financial%20Statements) This section provides detailed explanations of accounting policies, revenue, assets, liabilities, and equity - The **notes** provide detailed explanations of the **financial statements**, covering **accounting policies**, **revenue disaggregation**, **asset impairment**, **debt structure**, and **equity changes**[25](index=25&type=chunk) - No **material changes** to **significant accounting policies** occurred during the nine months ended September 30, 2023[27](index=27&type=chunk) - The company adopted **ASU 2020-04** in March 2023 to replace **LIBOR** with **SOFR** for **Credit Facilities**, which did not materially impact the **consolidated financial statements**[29](index=29&type=chunk) [Note 1. Description of Business](index=8&type=section&id=Note%201.%20Description%20of%20Business) This section provides a high-level description of Frontdoor's business as a leading home service plan provider - **Frontdoor** is the **leading provider of home service plans** in the United States, primarily operating under the **American Home Shield brand**[26](index=26&type=chunk) - The company offers customizable annual service plans covering repair or replacement of major home systems and appliances, along with on-demand home services via its **Streem technology app**[26](index=26&type=chunk) - As of September 30, 2023, **Frontdoor** had **2.0 million active home service plans** across all brands[26](index=26&type=chunk) [Note 2. Significant Accounting Policies](index=8&type=section&id=Note%202.%20Significant%20Accounting%20Policies) This section outlines the significant accounting policies and estimates that require management's judgment - There have been no **material changes** to the company's **significant accounting policies** during the nine months ended September 30, 2023, as described in the **2022 Form 10-K**[27](index=27&type=chunk) - **Frontdoor** adopted **ASU 2020-04** in March 2023 to transition from **LIBOR** to **SOFR** as the benchmark rate for its **Credit Facilities**, which did not have a **material impact** on its **financial statements**[29](index=29&type=chunk) [Note 3. Revenue](index=9&type=section&id=Note%203.%20Revenue) This section analyzes revenue performance, detailing changes by acquisition channel and key drivers Revenue by Major Customer Acquisition Channel (Three Months Ended September 30) | Channel | 2023 (Millions) | 2022 (Millions) | Change ($M) | Change (%) | | :---------------- | :-------------- | :-------------- | :---------- | :--------- | | Renewals | $406 | $356 | $50 | 14% | | Real estate | $40 | $51 | $(12) | (23)% | | Direct-to-consumer | $54 | $64 | $(10) | (16)% | | Other | $24 | $13 | $11 | 85% | | **Total** | **$524** | **$484** | **$40** | **8%** | Revenue by Major Customer Acquisition Channel (Nine Months Ended September 30) | Channel | 2023 (Millions) | 2022 (Millions) | Change ($M) | Change (%) | | :---------------- | :-------------- | :-------------- | :---------- | :--------- | | Renewals | $1,083 | $949 | $134 | 14% | | Real estate | $115 | $153 | $(39) | (25)% | | Direct-to-consumer | $157 | $176 | $(19) | (11)% | | Other | $59 | $44 | $16 | 35% | | **Total** | **$1,414** | **$1,322** | **$91** | **7%** | - **Deferred customer acquisition costs** decreased from **$16 million** as of December 31, 2022, to **$12 million** as of September 30, 2023[38](index=38&type=chunk) [Note 4. Goodwill and Intangible Assets](index=10&type=section&id=Note%204.%20Goodwill%20and%20Intangible%20Assets) This section discusses any impairment charges related to goodwill and intangible assets for the reported periods - The **goodwill balance** remained at **$503 million** as of September 30, 2023, and December 31, 2022, with no **impairment charges** recorded in the three and nine months ended September 30, 2023[45](index=45&type=chunk) - In **Q3 2022**, a **$14 million impairment charge** was recognized for the **Streem reporting unit** (**$9 million goodwill**, **$5 million intangible assets**) due to a strategic shift to integrate **Streem's technology** into the core business rather than selling it as a third-party SaaS platform[44](index=44&type=chunk) - **Total intangible assets, net**, decreased from **$148 million** as of December 31, 2022, to **$144 million** as of September 30, 2