Earnings Review and Free Research Report: Wayfair Q2 Revenues Surged 42.7% Y-o-Y to Beat Estimates

Research Desk Line-up: Baozun Post Earnings Coverage

LONDON, UK / ACCESSWIRE / August 30, 2017 / Pro-Trader Daily has just published a free post-earnings coverage on Wayfair Inc. (NYSE: W), which can be viewed by registering at http://protraderdaily.com/optin/?symbol=W, following the Company’s release of its financial results on August 08, 2017, for the second quarter fiscal 2017 (Q2 FY17). The Boston, Massachusetts-based Company’s total net revenues surged 42.7%, topping market consensus estimates. Our daily stock reports are accessible for free, and with those to look forward today you also will be signing up for a complimentary member’s account at:

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Get more of our free earnings reports coverage from other constituents of the Catalog & Mail Order Houses industry. Pro-TD has currently selected Baozun Inc. (NASDAQ: BZUN) for due-diligence and potential coverage as the Company announced on August 21, 2017, its unaudited financial results for Q2 2017 which ended on June 30, 2017. Register for a free membership today, and be among the early birds that get access to our report on Baozun when we publish it.

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Earnings Reviewed

Wayfair posted total net revenues of $1.12 billion in Q2 FY17 compared to $786.93 million recorded in Q2 FY16. Total net revenues numbers topped market forecasts of $1.06 billion. The Company’s direct retail revenues were $1.10 billion in Q2 FY17 compared to $755.66 million in Q2 FY16. Furthermore, ‘Other’ revenues for the reported quarter came in at $20.40 million compared to $31.27 million in Q2 FY16.

The online home goods retailer posted net loss of $38.88 million, or $0.45 loss per diluted share, in Q2 FY17, compared to net loss of $48.27 million, or $0.57 loss per diluted share, in Q2 FY16. The Company’s non-GAAP net loss narrowed to $22.67 million, or $0.26 loss per diluted share, in the reported quarter from non-GAAP net loss of $36.66 million, or $0.43 loss per diluted share, in Q2 FY16. Additionally, Wall Street has expected the Company to report adjusted net loss of $0.69 per diluted share.

Operating Metrics

Wayfair Industries’ cost of goods sold increased to $853.39 million in Q2 FY17 from $598.41 million in Q2 FY16. The Company’s gross profit also increased to $269.47 million in Q2 FY17 from $188.51 million in Q2 FY16. Total operating expenses were $307.02 million during Q2 FY17 compared to $237.24 million in Q2 FY16. The Company reported loss from operations of $37.55 million in Q2 FY17 versus loss from operations of $48.73 million in Q2 FY16. Furthermore, the Company posted negative adjusted EBITDA of $2.25 million in Q2 FY17 compared to negative adjusted EBITDA of $24.86 million in Q2 FY16.

The Company’s number of active users was 9.55 million in Q2 FY17, up 43.1% from 6.67 million in Q2 FY16. Net revenue per active customer was $402 during Q2 FY17 compared to $404 in Q2 FY16. In Q2 FY17, totals order delivered were 4.28 million, rising 46.0% from 2.93 million in Q2 FY16. Additionally, average order value was $258 during Q2 FY17, which was similar to the values reported in the year ago same quarter.

Wayfair’s Segment-wise

The US segment net revenue came in at $997.07 million in Q2 FY17 compared to $732.67 million in the previous year’s same quarter. Furthermore, the segment’s adjusted EBITDA was $20.43 million in Q2 FY17 versus negative adjusted EBITDA of $2.92 million recorded in the year ago same quarter.

During Q2 FY17, the Company’s International segment generated $125.79 million as net revenues compared to $54.26 million in prior year’s same quarter. The segment reported negative adjusted EBITDA of $22.67 million in Q2 FY17 versus negative adjusted EBITDA of $21.94 million in the year ago comparable quarter.

Cash Matters and Balance Sheet

During the three months ended June 30, 2017, net cash provided by operating activities was $18.10 million compared to $24.90 million in the comparable year ago same quarter. Moreover, the Company reported negative free cash flow of $27.23 million in Q2 FY17 compared to negative free cash flow of $19.42 million in the previous year’s corresponding quarter.

Wayfair had cash and cash equivalents worth $203.81 million at the close of its books on June 30, 2017, versus cash and cash equivalents worth $279.84 million as on December 31, 2016. The Company’s lease financing obligation as on June 30, 2017, stood at $82.73 million compared to $28.90 million as on December 31, 2016.

Stock Performance

At the closing bell, on Tuesday, August 29, 2017, Wayfair’s stock marginally slipped 0.39%, ending the trading session at $68.29. A total volume of 1.28 million shares have exchanged hands. The Company’s stock price soared 8.48% in the last three months, 80.28% in the past six months, and 78.02% in the previous twelve months. Moreover, the stock skyrocketed 94.84% since the start of the year. The stock currently has a market cap of $5.78 billion.

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