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EX-99.1

2 ftdr-ex99_1.htm

EX-99.1

EX-99.1

Exhibit 99.1

Frontdoor Continues Strong Financial Performance in First-Quarter 2026

Revenue Increased 6% to $451 Million;

Gross Profit Margin Unchanged at 55%;

Net Income Increased 11% to $41 Million,

Diluted Earnings Per Share Increased 18% to $0.57;

Adjusted EBITDA(1) Increased 3% to $104 Million;

Reaffirming Full-Year 2026 Outlook

MEMPHIS, TENN. — April 30, 2026 — Frontdoor, Inc. (NASDAQ: FTDR), the nation’s leading provider of home warranties and new home builder warranties, today announced its first-quarter 2026 results.

Financial Results

Three Months Ended

March 31,

(In millions except as noted)

2026

2025

Change

Revenue

$

451

$

426

6

%

Gross Profit

248

235

5

%

Net Income

41

37

11

%

Diluted Earnings per Share

0.57

0.49

18

%

Adjusted Net Income(1)

53

49

8

%

Adjusted Diluted Earnings per Share(1)

0.73

0.64

14

%

Adjusted EBITDA(1)

104

100

3

%

Home Warranties (number in millions)

2.10

2.10

0

%

First-Quarter 2026 Summary

• Revenue increased 6% to $451 million and was comprised of 5% from higher realized price and 1% from higher volume

• Gross profit margin unchanged at 55%

• Net Income and Diluted Earnings Per Share increased 11% to $41 million and 18% to $0.57, respectively

• Adjusted EBITDA(1) increased 3% to $104 million

• First-quarter share repurchases totaled $60 million

• Growth in the number of home warranties in the first-year channels accelerated to 3%

Reaffirming Full-Year 2026 Outlook

• Revenue of $2.155 billion to $2.195 billion

• Adjusted EBITDA(2) of $565 million to $580 million

“Frontdoor delivered an excellent first quarter performance," said Chairman and Chief Executive Officer Bill Cobb. “Member count trends continued to improve, our operational foundation remains strong, and we delivered exceptional financial results while returning significant capital to shareholders through share repurchases. Looking ahead, we are reaffirming our full-year 2026 guidance based on our strong operating performance and the durability of our subscription-based business model."

1

First-Quarter 2026 Results

Revenue by Customer Channel

Three Months Ended

March 31,

(In millions)

2026

2025

Change

Renewals

$

352

$

333

6

%

Real estate (First-Year)

28

27

3

%

Direct-to-consumer (First-Year)

31

32

(5

)%

Other

41

33

23

%

Total

$

451

$

426

6

%

Revenue increased 6% to $451 million and was comprised of a 5% increase from realized price and a 1% increase from higher volume.

• Renewal revenue increased 6% due to higher price realization;

• Real estate revenue increased 3% due to higher volume, partially offset by lower price;

• Direct-to-consumer revenue decreased 5% due to lower price from our promotional pricing strategy to drive new home warranty member growth, partially offset by higher volume; and

• Other revenue increased 23% primarily due to the growth of the HVAC upgrade program.

Period-over-Period Net Income and Adjusted EBITDA(1) Bridge

(In millions)

Net Income

Adjusted EBITDA

Three Months Ended March 31, 2025

$

37

$

100

Impact of change in revenue

19

19

Contract claims costs

(6

)

(6

)

Sales and marketing costs

(6

)

(6

)

Customer service costs

(2

)

(2

)

Stock-based compensation expense

(3

)

—

Other general and administrative costs

(1

)

(1

)

Depreciation and amortization expense

2

—

Interest expense

1

—

Interest and net investment income

(1

)

(1

)

Provision for income taxes

1

—

Three Months Ended March 31, 2026

$

41

$

104

First-quarter 2026 Net Income increased 11% to $41 million and Adjusted EBITDA(1) increased 3% to $104 million. The table above shows the change versus the prior-year period, and includes:

• $19 million from higher revenue conversion(3).

• Contract claims costs(4) increased $6 million, excluding the impact of claims costs related to the change in revenue. Contract claims costs primarily reflects:

o Low-single digit cost inflation across our contractor network, replacement parts and equipment;

o A higher number of service requests per member, including $1 million from unfavorable weather; and

o Favorable claims cost development of $6 million, compared to a $7 million favorable claims cost development in the first-quarter of 2025.

• $6 million of higher sales and marketing costs, primarily due to increased marketing investments to drive direct-to-consumer channel growth.

2

Cash Flow

Three Months Ended

March 31,

(In millions)

2026

2025

Net cash provided from (used for):

Operating activities

$

119

$

124

Investing activities

(7

)

47

Financing activities

(75

)

(85

)

Cash increase during the period

$

37

$

85

Net cash provided from operating activities was $119 million for the three months ended March 31, 2026 and was comprised of $69 million in earnings adjusted for non-cash charges and $50 million in cash provided from working capital.

Net cash used for investi

8-K

0001727263false00017272632026-02-262026-02-26

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

Date of Report (Date of earliest event reported)February 26, 2026

Frontdoor, Inc. (Exact name of Registrant as Specified in Its Charter)

Delaware

001-38617

82-3871179

(State or Other Jurisdiction of Incorporation)

(Commission File Number)

(IRS Employer Identification No.)

3400 Players Club Parkway,

Memphis, Tennessee

38125

(Address of Principal Executive Offices)

(Zip Code)

Registrant’s Telephone Number, Including Area Code: 901 701-5000

(Former Name or Former Address, if Changed Since Last Report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions: ☐Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) ☐Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) ☐Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) ☐Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) Securities registered pursuant to Section 12(b) of the Act:

Title of each class

Trading Symbol(s)

Name of each exchange on which registered

Common stock, par value $0.01 per share

FTDR

The Nasdaq Stock Market LLC

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§ 230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§ 240.12b-2 of this chapter). Emerging growth company ☐ If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Item 2.02. Results of Operations and Financial Condition.

On February 26, 2026, Frontdoor, Inc., issued a press release announcing its financial results for its fiscal quarter and year ended December 31, 2025. A copy of the press release is attached hereto as Exhibit 99.1 and incorporated herein by reference.

The information contained in Item 2.02 of this Current Report on Form 8-K, including the text of the press release attached as Exhibit 99.1, is being furnished and shall not be deemed “filed” for the purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or otherwise subject to the liabilities of that section, nor shall it be deemed incorporated by reference in any filing under the Securities Act of 1933, as amended, or the Exchange Act, except as shall be expressly set forth by specific reference in such filing.

Item 9.01. Financial Statements and Exhibits.

(d) Exhibits.

Exhibit No.

Description of Exhibit

99.1

Press Release of Frontdoor, Inc., dated February 26, 2026

104

The cover page from this Current Report on Form 8-K, formatted in Inline XBRL

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

Frontdoor, Inc.

Date:

February 26, 2026

By:

/s/ Jason L. Bailey

Name: Jason L. Bailey Title: Senior Vice President and Chief Financial Officer