LendingTree (NASDAQ: TREE) reported Q3 EPS of ($0.26), $0.13 worse than the analyst estimate of ($0.13). Revenue for the quarter came in at $220.3 million versus the consensus estimate of $210.58 million.

• Insurance and mortgage show strength and product evolution continues
• Consolidated revenue of $220.3 million
• GAAP net loss from continuing operations of $(24.8) million or $(1.90) per diluted share
• Variable marketing margin of $78.1 million
• Adjusted EBITDA of $21.7 million
• Adjusted net loss per share of $(0.26)

"We're pleased to report another strong quarter at LendingTree," said Doug Lebda, Chairman & CEO. "I'm incredibly proud of the resiliency our Company has shown during this difficult period. While some of our businesses have been challenged as a result of the pandemic, other businesses are thriving and we continue make great strides in enhancing our My LendingTree offering. While 2020 has certainly not played out the way we expected, this period of time has given us an opportunity to renew our focus on strategy, innovation, and execution, and I'm increasingly confident in our market-leading position."

J.D. Moriarty, CFO, added, "While demand from our partners remains muted in some of our key Consumer verticals, we're encouraged by the momentum we've seen over the last few months. Our Home segment is solid, and Insurance performed particularly well in the third quarter. The merits of the diversification we've put in place have never been more apparent, and we're using that strength to position the company to excel in 2021 and beyond."

GUIDANCE:

LendingTree sees Q4 2020 revenue of $200-215 million, versus the consensus of $215.4 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 fourth quarter of 2020, as follows:

For fourth quarter 2020:

• Revenue is expected in the range of $200 - $215 million.
• Variable marketing margin is expected in the range of $72 - $78 million.
• Adjusted EBITDA is expected in the range of $13 - $18 million.

LendingTree is not able to provide a reconciliation of projected variable marketing margin or adjusted EBITDA to the most directly comparable expected GAAP results due to the unknown effect, timing and potential significance of the effects of legal matters, tax considerations, and income and expense from changes in fair value of contingent consideration from acquisitions. Expenses associated with legal matters, tax consequences, and income and expense from changes in fair value of contingent consideration from acquisitions have in the past, and may in the future, significantly affect GAAP results in a particular period.

For earnings history and earnings-related data on LendingTree (TREE) click here.