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Jun 30, 2021
LendingTree Q2 2021 Earnings Report
Demonstrated clear evidence of increasing momentum with consumer segment recovery gaining momentum and home and insurance remaining strong.
Key Takeaways
LendingTree reported a strong second quarter, with consolidated revenue of $270.0 million and GAAP net income from continuing operations of $9.8 million, or $0.71 per diluted share. The company's financial performance is rebounding, driven by recovery in the Consumer segment and sustained strength in Home and Insurance.
Consolidated revenue reached $270.0 million.
GAAP net income from continuing operations was $9.8 million, or $0.71 per diluted share.
Variable marketing margin was $98.4 million.
Adjusted net income per share was $0.76.
LendingTree
LendingTree
LendingTree Revenue by Segment
Revenue by Segment
Home Revenue
CapyFin.comConsumer Revenue
CapyFin.comInsurance Revenue
CapyFin.com Forward Guidance
LendingTree issued an outlook for the third quarter 2021, expecting Home to remain resilient, Consumer to continue its recovery, and Insurance to see top-line growth with modestly contracting segment margins. Non-variable costs are expected to increase materially.
Positive Outlook
- Home to remain resilient, generally extending the trends we observed in Q2.
- In Consumer, we expect the elevated pace of recovery in key products to continue.
- Top-line growth should continue in Insurance.
- Segment margins continue to contract modestly to the mid-thirties as a percent of revenue.
- Revenue: $285 - $298 million
Challenges Ahead
- Difficulty in forecasting the recovery of our Consumer segment
- Effects of volatile interest rate movements in our Home segment
- Segment margins continue to contract modestly to the mid-thirties as a percent of revenue.
- Non-variable costs are expected to increase materially over Q2 as we added 115 employees in Q2 and continue to add staffing in Q3 to support key initiatives, particularly our Medicare agency.
- Adjusted EBITDA: $35 - $40 million
Revenue & Expenses
Visualization of income flow from segment revenue to net income