Company to exceed Q2 revenue guidance and
maintains Adjusted EBITDA outlook
CHARLOTTE, N.C., June 18,
2024 /PRNewswire/ -- LendingTree, Inc. (NASDAQ:
TREE), is the parent of LendingTree, LLC and several companies
owned by LendingTree, LLC (collectively, "LendingTree" or the
"Company") and the operator of LendingTree.com, the nation's
leading online financial services marketplace, announces the
promotion of Jason Bengel to Chief
Financial Officer following the departure of Trent Ziegler on August
9, 2024. Along with this change, LendingTree is also
announcing several leadership changes to further propel the
Company's strategic initiatives and growth trajectory.
After 12 years of exceptional service, Trent Ziegler will be stepping down from his
position to pursue a new opportunity outside the Company. Ziegler
leaves behind a legacy of strong shareholder relationships,
optimized cost structure and the successful execution of complex
financing initiatives.
Jason Bengel, an integral member
of LendingTree's management team and a Chartered Financial Analyst,
will step into the CFO role effective as of August 9, 2024. Bengel's expertise in financial
planning and analysis, coupled with his dedication to operational
efficiency and deep understanding of LendingTree's business lines,
position him well to drive LendingTree's financial strategies
forward.
"Jason's leadership and insights have been instrumental in
enhancing the Company's reporting standards and bringing discipline
to the organization's operations, both of which will be crucial as
we continue to efficiently scale the business," said Doug Lebda, LendingTree Chairman and CEO. "We
are grateful for Trent's exceptional contributions to LendingTree
and wish him ample success in his new role. While Trent will be
missed among our team, I am incredibly confident in Jason's skilled
expertise and in his ability to lead our finance team to drive
operational excellence."
Additionally, effective immediately, Sarah Guidry will
expand her role into SVP of Analytics and Corporate Strategy.
Guidry has been leading LendingTree's Analytics function since
2021, and as part of this move, her responsibilities expand into
LendingTree's strategy work, including the new AI lab, underscoring
the Company's commitment to data-driven decision making. Lebda adds
"I've seen first-hand how Sarah can take ambiguous processes and
improve them for greater clarity and accountability. This move more
closely aligns analytics and strategy, enabling us to make smarter
prioritization decisions. I'm incredibly excited to see what she
can accomplish in this new role."
Finally, also effective immediately, Andrew Wessel will be taking on a larger role as
SVP of Investor Relations and Corporate Development. Wessel
will continue to strengthen LendingTree's relationships with
shareholders, banks, and other capital market participants.
"Andrew's experience as an equity research analyst and hedge fund
investor provides a unique and essential skillset to LendingTree,
and he has a proven track record at the Company of driving
shareholder value," continued Lebda.
As LendingTree embarks on this new chapter, the Company believes
it remains poised for continued success and strategic
innovation.
Second-quarter 2024 Outlook
In the second quarter we anticipate revenue will be above the
previously forecasted range of $175 -
$190 million, and we reiterate our
published second quarter variable marketing margin and adjusted
EBITDA outlook of $70 - $76 million and $22
– $26 million, respectively.
About LendingTree, Inc.
LendingTree is one of the nation's largest, most experienced
online financial platforms, created to give consumers the power to
win financially. LendingTree provides customers with access
to the best offers on loans, credit cards, insurance and more
through its network of over 400 financial partners. Since its
founding, LendingTree has helped millions of customers obtain
financing, save money, and improve their financial and credit
health in their personal journeys. With a portfolio of innovative
products and tools and personalized financial recommendations,
LendingTree helps customers achieve everyday financial wins.
LendingTree, Inc. is headquartered in Charlotte, NC. For more information, please
visit www.lendingtree.com.
Cautionary Language Concerning Forward-Looking
Statements
The matters contained in this press release may be considered to
be "forward-looking statements" within the meaning of the
Securities Act of 1933, as amended, and the Securities Exchange Act
of 1934, as amended by the Private Securities Litigation Reform Act
of 1995. These forward-looking statements are made on the
basis of the current beliefs, expectations and assumptions of
management, are not guarantees of performance and are subject to
significant risks and uncertainty. These forward-looking statements
should, therefore, be considered in light of various important
factors, including those set forth in Company's reports that it
files from time to time with the Securities and Exchange Commission
("SEC") and which you should review, including those statements
under "Item 1A – Risk Factors" in the Company's Annual Report on
Form 10-K, as may be amended from time to time by other reports the
Company files with the SEC. These forward-looking statements should
not be relied upon as predictions of future events and the Company
cannot assure you that the events or circumstances discussed or
reflected in these statements will be achieved or will occur. If
such forward-looking statements prove to be inaccurate, the
inaccuracy may be material. You should not regard these statements
as a representation or warranty by the Company or any other person
that we will achieve our objectives and plans in any specified
timeframe, or at all. You are cautioned not to place undue reliance
on these forward-looking statements, which speak only as of the
date of this press release. The Company disclaims any obligation to
publicly update or release any revisions to these forward-looking
statements, whether as a result of new information, future events
or otherwise, after the date of this press release or to reflect
the occurrence of unanticipated events, except as required by
law.
Investor Relations:
investors@lendingtree.com
Media Relations:
press@lendingtree.com
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SOURCE LendingTree, Inc.
