Wayfair reports Q4 non-GAAP EPS 11c, consensus (16c)

Reports Q4 revenue $3.1B, consensus $3.11B. “Q4 was another definitive step on our profitability journey and a reflection of the immense progress we achieved throughout the entire year,” said CEO Niraj Shah. “Even in a difficult macro environment, we generated a 3% Adjusted EBITDA Margin and had our third consecutive quarter of positive Adjusted EBITDA and Free Cash Flow. In fact, on a revenue base that largely mirrored 2022, our Free Cash Flow in 2023 improved by more than one billion dollars. Our efforts over 2023 led to large improvements in our core recipe across availability, speed and price competitiveness. These improvements were directly responsible for our robust share expansion throughout the year and for the step-up we saw in customer loyalty, including year-over-year growth in our active customer count by Q4.”