LendingTree reports Q4 adjusted EPS 28c, consensus 4c

Reports Q4 revenue $134.4M, consensus $135.59M. “Our company continues to prove durable to adverse economic conditions, as we generated another quarter of solid results despite ongoing pressure from higher interest rates and persistent inflation,” said CEO Doug Lebda. “We have taken decisive action to simplify our company, reduce operating costs, improve our technology and data infrastructure, and fortify our balance sheet. The business is well positioned to benefit from an improved economic environment going forward.” COO Scott Peyree commented, “The recovery that began in our Insurance segment during Q4 has continued into the new year. We are very excited to be returning to growth…With the changes we have undertaken to make our company more efficient and agile, we now have a solid foundation to begin leaning into sequential growth opportunities in multiple lending categories.” CFO Trent Ziegler added, “Despite the numerous external challenges we faced in 2023, the business generated $78.5M of AEBITDA and $55M of free cashflow for the year. During the quarter we repurchased $100M of our 2025 convertible notes at a discount to par, and maintain $112M of cash on balance sheet.”