Frontdoor sees FY24 revenue $1.81 B-$1.84B , consensus $1.88B

Full-Year 2024 Outlook Revenue to grow approximately 2% to 3% to $1.81 billion to $1.84 billion. Sees Gross profit margin of 48.5% to 49.5%, which reflects the impact of reverting back to normal weather conditions, as well as a slightly higher mix of on-demand services. SG&A of $580 million to $595 million, which is slightly higher than the prior year due to normal cost inflation in general and administrative expenses. Additionally, there is a shift in marketing investments from the Frontdoor brand to American Home Shield to support the brand relaunch. Adjusted EBITDA of $350 million to $360 million. Capital expenditures of approximately $35 million to $45 million.