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Sep 30, 2023
LendingTree Q3 2023 Earnings Report
Reported a rebound in AEBITDA driven by strong segment margins and expense discipline.
Key Takeaways
LendingTree reported consolidated revenue of $155.2 million. The company experienced a GAAP net loss of $(148.5) million, which included after-tax impairment charges of ($145.9) million. However, the Adjusted EBITDA was $21.8 million, with an Adjusted net income per share of $0.61.
Generated $22 million of Adjusted EBITDA, the top end of their outlook, and an Adjusted EBITDA margin of 14%.
Increased margins in the Consumer and Insurance segments through targeted operational improvements.
Reduced headcount by over 30% from a year ago, with annualized operating expenses now running below 2019 levels.
Strategically simplified business while focusing resources on improving their core marketplace.
Revenue by Segment
Forward Guidance
LendingTree updated its outlook for full-year 2023.
Positive Outlook
- Revenue of $670 - $680 million compared to the prior range of $680 - $700 million
- Variable Marketing Margin of $275 - $285 million vs prior range of $275 - $290 million
- Adjusted EBITDA of $74 - $80 million vs prior range of $70 - $80 million
- Revenue: $132 - $142 million for fourth-quarter 2023
- Variable Marketing Margin: $55 - $65 million for fourth-quarter 2023
Challenges Ahead
- Adjusted EBITDA: $11 - $17 million for fourth-quarter 2023
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
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