Thu, Feb 27, 12:48 PM (62 days ago)
**Summary of Frontdoor, Inc. (FTDR) 10-K Report for Fiscal Year Ended December 31, 2024** Frontdoor, Inc. reported a 4% increase in revenue to $1,843 million, with net income rising 37% to $235 million, driven by strong customer retention (79.9%) and the acquisition of 2-10 HBW. Operating expenses were $612 million, reflecting increased marketing and acquisition costs. Adjusted EBITDA improved to $443 million, indicating operational efficiency. The company completed the $585 million acquisition of 2-10 HBW, enhancing its market position in home warranties and structural warranties. The acquisition was financed through a restructuring of credit facilities, increasing total debt to $1,199 million. Key risks include macroeconomic challenges, inflation, and competition in the home warranty market. The company aims to expand its customer base and enhance service offerings through technology and strategic acquisitions. Financially, Frontdoor maintains a solid liquidity position with $421 million in cash and equivalents, and a robust cash flow from operations of $270 million, supporting future growth initiatives and share repurchase programs. The company has no plans to issue dividends, focusing instead on reinvestment and debt management.