Frontdoor, Inc. Provides Earnings Guidance for the Third Quarter and Full Year of 2023
August 02, 2023 at 01:05 pm
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Frontdoor, Inc. provided earnings guidance for the third quarter and full year of 2023. For the quarter, the company expects revenue of $500 million to $515 million, a 5% increase over the prior year period, reflecting approximately 15% growth in the renewals channel, partially offset by an approximately mid-20% decline in the first-year real estate channel and approximately a 15% decline in the first year direct to consumer channel.
For the full year, the company Increased revenue outlook to $1.73 billion to $1.75 billion, or approximately 5% higher than the prior year.
Frontdoor, Inc. is a provider of home warranties in the United States. The Companyâs customizable home warranties help customers protect and maintain their homes, typically their assets, from costly and unplanned breakdowns of essential home systems and appliances. The Company operates under the brands American Home Shield, HSA, OneGuard and Landmark Home Warranty. Its annual service subscribe plan covers the repair or replacement of major components of more than 20 home systems and appliances, including electrical, plumbing, heating, ventilation, and air conditioning (HVAC) systems, water heaters, refrigerators, dishwashers, and ranges/ovens/cooktops, as well as optional coverages for electronics, pools, spas, and pumps. Its operations also include its Streem, a technology platform that uses augmented reality, computer vision and machine learning to, among other things, help home service professionals more quickly and accurately diagnose breakdowns and complete repairs.
FRONTDOOR, INC. 
