Frontdoor, Inc. (NASDAQ:FTDR) Q1 2022 Earnings Conference Call May 5, 2022 4:30 PM ET

Company Participants

Matt Davis - Vice President, Investor Relations and Treasurer

Rex Tibbens - Chief Executive Officer

Brian Turcotte - Chief Financial Officer

Conference Call Participants

Jeff Schmitt - William Blair

Ian Zaffino - Oppenheimer

Youssef Squali - Truist Securities

Aaron Kessler - Raymond James

Justin Patterson - KeyBanc

Brian Fitzgerald - Wells Fargo

Cory Carpenter - JPMorgan

Eric Sheridan - Goldman Sachs

Operator

Ladies and gentlemen, welcome to Frontdoor’s First Quarter 2022 Earnings Call. Today’s call is being recorded and broadcast on the Internet. Beginning today’s call is Matt Davis, Vice President of Investor Relations and Treasurer and he will introduce the other speakers on the call. At this time, we will begin today’s call. Please go ahead, Mr. Davis.

Matt Davis

Thank you, operator. Good afternoon, everyone and thank you for joining Frontdoor’s first quarter 2022 earnings conference call. Joining me today are Frontdoor’s Chief Executive Officer, Rex Tibbens; and Frontdoor’s Chief Financial Officer, Brian Turcotte. The press release and slide presentation that will be used during today’s call can be found on the Investor Relations section of Frontdoor’s website, which is located at investors.frontdoorhome.com.

As stated on Slide 3 of the presentation, I’d like to remind you that this call and webcast may contain forward-looking statements. These statements are subject to various risks and uncertainties and which could cause actual results to differ materially from those discussed here today. These risk factors are explained in detail in the company’s filings with the SEC. Please refer to the Risk Factors section in our filings for a more detailed discussion of our forward-looking statements and the risks and uncertainties related to such statements. All forward-looking statements are made as of today, May 5 and except as required by law, the company undertakes no obligation to update any forward-looking statements, whether as a result of new information, future events or otherwise.

We will also reference certain non-GAAP financial measures throughout today’s call. We have included definitions of these terms and reconciliations of these non-GAAP financial measures to their most comparable GAAP financial measures in our press release and the appendix to the presentation in order to better assist you in understanding our financial performance.

I will now turn the call over to Rex for opening comments. Rex?

Rex Tibbens

Thanks, Matt and good afternoon everyone. Frontdoor delivered another strong quarter of revenue growth despite continuing macroeconomic headwinds. Today, we plan to focus our discussion on two near-term external challenges, cost inflation in the real estate market and our long-term opportunity. Beyond these challenges, the rest of our business is generally on target with what we laid out last quarter.