LendingTree (TREE) Tops Q2 EPS by 50c, Revenues Beat; Offers 3Q Revenue Guidance

LendingTree (NASDAQ: TREE) reported Q2 EPS of $0.46, $0.50 better than the analyst estimate of ($0.04). Revenue for the quarter came in at $184.3 million versus the consensus estimate of $175.38 million.

• Results demonstrate benefits of diversification & flexible cost structure
• Consolidated revenue of $184.3 million
• GAAP net loss from continuing operations of $(8.6) million or $(0.66) per diluted share
• Variable marketing margin of $82.5 million
• Adjusted EBITDA of $30.8 million
• Adjusted net income per share of $0.46

"Despite the challenging backdrop, our team executed incredibly well in the second quarter," said Doug Lebda, Chairman & CEO. "While our business has not been immune to effects of the current environment, it has certainly proven resilient. We believe times like these tend to separate the leaders from the pack, and we're confident that our market-leading position should enable to us to reap the benefits of an accelerating digital transformation in consumer finance."

J.D. Moriarty, CFO, added, "Our second quarter results are a testament to the durability of our business. While some of our businesses are being tested, others are thriving and we continue to generate significant cash flows. In addition, our balance sheet is incredibly healthy, and we remain focused on leveraging our market-leading position to propel the company forward."

GUIDANCE:

LendingTree sees Q3 2020 revenue of $200-215 million, versus the consensus of $210.46 million.

On April 14, LendingTree withdrew its full-year 2020 guidance due to economic uncertainty related to COVID-19. Today, the company is providing revenue, variable marketing margin and adjusted EBITDA guidance for the third quarter of 2020, as follows:

For third quarter 2020:

• Revenue is expected in the range of $200 - $215 million.
• Variable marketing margin is expected in the range of $72 - $80 million.
• Adjusted EBITDA is expected in the range of $16 - $21 million.
• For earnings history and earnings-related data on LendingTree (TREE) click here.

You May Also Be Interested In

• Gilead Sciences (GILD) Misses Q1 EPS by 288c
• Bristol-Myers Squibb (BMY) stock slips despite earnings beat
• Eldorado Gold (EGO) Tops Q1 EPS by 10c