
LendingTree reported first-quarter adjusted earnings per share of $0.99, surpassing the estimated $0.65, while adjusted net income reached $13.5 million compared to the $8.95 million forecast. However, the company's revenue missed expectations, coming in at $239.7 million versus the anticipated $244.9 million. This revenue shortfall was primarily attributed to LendingTree's insurance segment, which underperformed relative to competitors. Consequently, LendingTree lowered its full-year revenue forecast, leading to a 26% decline in its stock price during premarket trading. Separately, Arbor Realty Trust posted first-quarter adjusted EPS of $0.31, beating estimates of $0.27, but its sales of $75.44 million fell short of the $77.17 million forecast. Arbor also announced a 30% dividend cut to $0.30 per share amid concerns that dividends continue to exceed distributable earnings despite the reduction.
LendingTree's first quarter earnings exceeded estimates, with adjusted earnings per share at 99 cents. However, revenue fell short at $239.7 million, resulting in a significant reduction in the company's full-year forecast. As a result, stocks plunged in premarket trading.
$TREE Lending Tree down 26% on cut to revenue forecast “Surprisingly, the rev. shortfall was solely driven by Insurance, which compares to one of its top competitors putting up more upbeat performance (reported last night). We think that could be due to TREE’s greater exposure https://t.co/4nBoNuNuEM
A rolling Arbor update on 10-Q as we lead up to this morning's earnings call. Arbor cuts dividend by 30% to $0.30 per share. Dividends continue to exceed the (heavily adulterated) distributable earnings despite the dividend cut. $ABR 1/ https://t.co/NAcPnkz9wy
