125 0 Kommentare ANGI Reports Selected Preliminary Financial Information for Q1 2020

DENVER, April 14, 2020 (GLOBE NEWSWIRE) -- ANGI Homeservices (NASDAQ: ANGI) released preliminary selected financial information for its first quarter today. A letter to IAC shareholders from IAC’s CEO Joey Levin released on April 6, 2020, which includes a discussion of ANGI Homeservices, was posted on the Investor Relations section of IAC’s website at www.iac.com/Investors.

Based on information available, ANGI Homeservices expects for Q1 2020:

Revenue in the range of $340-$345 million
Operating loss in the range of $15-$20 million
Adjusted EBITDA in the range of $30-$35 million

As of March 31, 2020, ANGI had $384.2 million in cash and cash equivalents, $244.1 million of debt, the substantial majority of which is due in November 2023, and $250 million available under its revolving credit facility, which expires in November 2023. Accordingly, we believe ANGI has ample access to capital to navigate current and coming economic pressures.

“We are in a strong position to navigate these unprecedented times,” said Brandon Ridenour, CEO of ANGI Homeservices. “I’m proud of the essential work our local service pros are doing every day. We will continue to stand by our employees, homeowners and the local businesses who keep their homes safe.”

ANGI Homeservices is also withdrawing its prior full year 2020 guidance due to the impact of COVID-19 on its business. The Company is unable to provide updated full year 2020 guidance given the uncertainties surrounding the impact of COVID-19 on its business, which may include the economic impact on consumers and the willingness of homeowners and service professionals to resume contact.

As of the date of this release, the Company has not yet completed its financial close process for the quarter.

During the course of the financial close process, the Company may identify items that would require it to make adjustments, which may be material, to the information presented above. The Company expects to release its full fiscal first quarter results in early May, 2020.