Wayfair reports Q3 adjusted EPS (13c), consensus (48c)

Reports Q3 revenue $2.9B, consensus $2.98B. “Wayfair is now in a place where we can drive profitability while simultaneously investing for growth,” said Niraj Shah CEO, co-founder and co-chairman, Wayfair. “Q3 is one more proof point of exactly that – today we’re reporting positive Adjusted EBITDA of $100 million, a second consecutive quarter of positive Free Cash Flow and nearly four percent year-over-year revenue growth driven by strength in orders. We also saw steady improvement in our active customer metric, which is well on its way to positive year-over-year growth.” “We executed further in the third quarter to produce consistent profitability – with Adjusted EBITDA now positive on a trailing 12 month basis – while also driving demonstrable market share growth, as evidenced by our gains on customers and orders. Even with a turbulent macro, we remain committed to our profitability goals in good times and bad. We will continue to drive peerless focus and execution into 2024 and beyond, as we push every day to be the number one shopping destination for the home.”