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Mar 31, 2021
LendingTree Q1 2021 Earnings Report
Reported record mortgage revenue and continued recovery in the Consumer segment.
Key Takeaways
LendingTree reported a strong first quarter in 2021, exceeding prior guidance with momentum in all three segments. The Home segment delivered record revenue, while the Insurance segment posted strong growth, and the Consumer segment showed tangible signs of recovery.
Consolidated revenue reached $272.8 million.
GAAP net income from continuing operations was $19.3 million, or $1.37 per diluted share.
Variable marketing margin was $89.0 million.
Adjusted EBITDA amounted to $30.7 million.
Revenue by Segment
Forward Guidance
For the second quarter of 2021, LendingTree expects revenue in the range of $263 - $273 million, variable marketing margin in the range of $86 - $92 million, and adjusted EBITDA in the range of $27 - $31 million.
Positive Outlook
- Sustained improvement in the Consumer segment.
- Acceleration in Insurance segment revenue growth of 30% or more compared to Q2 2020.
Challenges Ahead
- Difficulty in forecasting the recovery of the Consumer segment.
- Effects of volatile interest rate movements in the Home segment.
- Year-over-year growth in the Home segment moderating relative to Q1.
- Sequential decline in Home revenue and segment profit.
- Approximately $2 million in additional expense to support the build of our Medicare agency capability.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
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Avg. Return Before/After Earnings
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