The following is excerpted from the question-and-answer section of the transcript.
(Questions from industry analysts are provided in full, but answers are omitted - download the transcript to see the full question-and-answer session)
Question: Ryan John Tomasello - Keefe, Bruyette, & Woods, Inc., Research Division - Analyst
: Clearly, the hope is that the revenue environment inevitably improves. But given the importance of navigating the upcoming maturities, maybe
you could provide a bit more detail on the different options you're thinking about for addressing the [convert] that goes current next year.
Do you feel like the current free cash flow and EBITDA profile of the business can support that? And I guess on the expense side, are there additional
levers you could pull if needed, in the scenario that the revenue environment doesn't go your way?
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JULY 27, 2023 / 1:00PM, TREE.OQ - Q2 2023 Lendingtree Inc Earnings Call
Question: Ryan John Tomasello - Keefe, Bruyette, & Woods, Inc., Research Division - Analyst
: I appreciate all that color. I guess on the guidance, the revised guide looks like it implies second-half EBITDA of around $30 million to $40 million
by our math round numbers, $60 million to $80 million annualized. And it looks like the implied 4Q EBITDA guide is at the low end of that range
on an annualized basis.
I guess, should we think about that as kind of the run rate EBITDA power, as things stand here for the business today? And are there key variables
that could move the needle in the second half relative to the guidance that you'd call out specifically?
Question: Melissa Wedel - JPMorgan Chase & Co, Research Division - Analyst
: First, I wanted to follow up on the revised guidance and just kind of comparing EBITDA margins from the most recent quarter, which, Trent, you
noted were in the mid-teens. Just sort of implied in the back half, you're guiding to margins in the low double digits, so a couple of hundred bps
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JULY 27, 2023 / 1:00PM, TREE.OQ - Q2 2023 Lendingtree Inc Earnings Call
lower than 2Q levels. I'm just trying to wrap my head around that, is it just sort of embedded conservatism and guidance driving that or something
else that you're seeing?
Question: Melissa Wedel - JPMorgan Chase & Co, Research Division - Analyst
: Okay. Got it. A follow-up question on a couple of the categories within Consumer. If we're looking at things, right, it looks like there is a little bit of
a sequential increase in card -- in terms of revenue in card and personal loan.
I just wanted to understand, how you attribute that? Is it mostly -- do you think -- is there some seasonality in that number? Are you starting to see
sort of TreeQual payoff? What do you -- what's driving that?
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