Overview
Angi Q3 revenue fell 10% yr/yr, missing analyst expectations
Operating income for Q3 grew 179% yr/yr, driven by lower expenses
Adjusted EBITDA for Q3 beats analyst estimates, reflecting improved profitability
Outlook
Company did not provide specific guidance for future quarters in its press release
Result Drivers
PROPRIETARY GROWTH - Proprietary Service Requests and Leads increased due to improved customer experience and strong SEM performance
OPERATING INCOME INCREASE - Operating income rose due to decreased depreciation and stock-based compensation expenses
ADJUSTED EBITDA GROWTH - Adjusted EBITDA increased due to lower pro acquisition expenses and reduced fixed costs
Key Details
Metric | Beat/Miss | Actual | Consensus Estimate |
Q3 Revenue | Miss | $265.6 mln | $268.94 mln (9 Analysts) |
Q3 EPS | $0.23 | ||
Q3 Net Income | $10.6 mln | ||
Q3 Adjusted EBITDA | Beat | $39.7 mln | $36.19 mln (9 Analysts) |
Q3 Operating Income | $21.8 mln |
Analyst Coverage
The current average analyst rating on the shares is "hold" and the breakdown of recommendations is 3 "strong buy" or "buy", 6 "hold" and no "sell" or "strong sell"
The average consensus recommendation for the online services peer group is "buy."
Wall Street's median 12-month price target for Angi Inc is $22.00, about 40.7% above its November 3 closing price of $13.05
The stock recently traded at 9 times the next 12-month earnings vs. a P/E of 15 three months ago
For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact RefinitivNewsSupport@thomsonreuters.com.
(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)