Wayfair (W) Tops Q4 EPS by 38c, Revenues Miss

Wayfair (NYSE: W) reported Q4 EPS of $1.24, $0.38 better than the analyst estimate of $0.86. Revenue for the quarter came in at $3.7 billion versus the consensus estimate of $3.76 billion.

Fourth Quarter 2020 Financial Highlights

• Total net revenue of $3.7 billion increased $1.1 billion, up 44.9% year over year
• U.S. net revenue of $3.0 billion increased $0.9 billion, up 40.1% year over year
• International net revenue of $671.8 million increased $278.2 million, up 70.7% year over year. International segment Net Revenue Constant Currency Growth was 66.7%
• Gross profit was $1.1 billion, or 29.0% of total net revenue
• Net income was $23.8 million
• Non-GAAP Adjusted EBITDA and Adjusted EBITDA Margin were $263.2 million and 7.2% of total net revenue
• Diluted earnings per share was $0.23
• Non-GAAP Adjusted Diluted Earnings Per Share was $1.24
• Non-GAAP Free Cash Flow was $128.3 million
• Cash, cash equivalents and short- and long-term investments totaled $2.6 billion

“In Q4, Wayfair delivered another solid quarter of growth, profitability, and free cash flow. Online shopping behavior is becoming increasingly entrenched and consumer demand for the home category remains strong. Wayfair is capitalizing on these tailwinds by delivering a truly differentiated experience for both customers and suppliers. In the process, we are cementing our position as the leading platform for the Home, reinforcing our brand to tens of millions of customers, and developing innovative and value-added solutions for thousands of our suppliers,” said Niraj Shah, CEO, co-founder and co-chairman, Wayfair. “As we look beyond the pandemic period, we are confident that our long-term orientation and years of investments should translate to compounding share gains and increasing profitability in a rapidly growing e-commerce market.”

For earnings history and earnings-related data on Wayfair (W) click here.

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