TREE - LendingTree lowers Q2 earnings outlook on interest rate environment inflation

Financial services marketplace LendingTree (NASDAQ:TREE) lowered its Q2 earnings outlook on prevailing interest rate environment and inflation. "The challenging interest rate environment that progressed through this quarter combined with annual inflation persistently running above 8% has presented additional challenges for many of our mortgage lending and insurance partners," CFO Trent Ziegler said. The company's previous Q2 revenue guidance was in the range of  $283-$293M, variable marketing margin guidance was in the range of $100-$106M and adjusted EBITDA guidance was in the range of $35-$40M. Now, the company anticipates revenue to be in the range of $259-$264M (vs. consensus of $287.11M), variable marketing margin guidance to be in the range of $88-$92M and adjusted EBITDA guidance to be in the range of $26-$29M. The annual guidance previously provided is under review, and the company is expected to announce a revised outlook with its Q2 results announcement. Shares were trading -13.76% post-market. Source: Press

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LendingTree lowers Q2 earnings outlook on interest rate environment, inflation