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Angi Inc. (NASDAQ:ANGI ) Q3 2023 Earnings Conference Call November 8, 2023 8:30 AM ET Company Participants Christopher Halpin - CFO Angi, Inc., and COO, IAC Joey Levin - CEO, IAC and CEO & Chairman, Angi, Inc. Conference Call Participants Jason Helfstein - Oppenheimer Brent Thill - Jefferies John Blackledge - TD Cowen Justin Patterson - KeyBanc Ross Sandler - Barclays Brian Fitzgerald - Wells Fargo Ygal Arounian - Citigroup Tom Champion - Piper Sandler Kunal Madhukar - UBS Operator Good morning, and welcome to the IAC and Angi Third Quarter 2023 Earnings Conference Call. [Operator Instructions] Please note that this event is being recorded today.

Although the revenue and EPS for Angi (ANGI) give a sense of how its business performed in the quarter ended September 2023, it might be worth considering how some key metrics compare with Wall Street estimates and the year-ago numbers.

DENVER, Oct. 18, 2023 (GLOBE NEWSWIRE) -- After the close of market trading on Tuesday, November 7, 2023, Angi Inc. (NASDAQ: ANGI) will post its third quarter results at ir.angi.com/q u arterly-earnings . On Wednesday November 8, 2023, at 8:30 a.m. ET, Angi Inc. and IAC will host a conference call to answer questions regarding the companies' respective third quarter results.

Angi Inc. has become a notable home service player with diversified service offerings and international expansions. The company's financial metrics and dual-class stock structure present potential challenges and risks. Based on my valuation, ANGI stock appears to be trading close to its intrinsic value, suggesting limited room for potential upside or downside.

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Angi's revenue is dropping as fewer professionals use the platform and as service requests drop. Management is trying to grow its margins, and it believes it's making moves to improve retention on its platform.

Revenue fell sharply as the company struggled in the current macro environment. Angi continues to lose money, though the core business has been around for decades.

Although the revenue and EPS for Angi (ANGI) give a sense of how its business performed in the quarter ended June 2023, it might be worth considering how some key metrics compare with Wall Street estimates and the year-ago numbers.

Angi (ANGI) might move higher on growing optimism about its earnings prospects, which is reflected by its upgrade to a Zacks Rank #1 (Strong Buy).

ANGI, SFIX, ZVIA, ZYME and HOWL have been added to the Zacks Rank #1 (Strong Buy) List on July 26, 2023.