LendingTree reports Q1 adjusted EPS 70c, consensus 37c

Reports Q1 revenue $167.8M, consensus $162.77M. “We are happy to report quarterly AEBITDA grew 49% YoY, exceeding the high end of our forecast. Our Insurance segment produced very strong performance in Q1, growing both revenue and segment profit by double-digits as insurance carrier partners steadily increase their budgets with us,” said CEO Doug Lebda. “At the same time, a stable lending environment is benefiting Consumer segment revenue, allowing us to lean back into our marketing efforts to match more customers with the best financial products in our marketplace. We believe we are finally through the worst part of the cycle for our company, when all three of our reportable segments were operating at or near trough revenue levels.” COO Scott Peyree commented, “…Looking forward, continued stability in credit conditions at lenders coupled with very strong demand from our insurance carrier partners creates a solid base for additional progress. We now forecast a much-anticipated return to annual revenue and AEBITDA growth for the company this year.” CFO Trent Ziegler added, “During Q1 we closed on a new term loan that provides us $175M of seven-year financing…Having addressed this maturity and optimized our fixed cost structure, we are squarely focused on returning to profitable growth and remain well positioned to continue investing in our business.”