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Wayfair (W)
NYSE:W
Earnings Data
Report Date
Apr 30, 2026Before Open (Confirmed)
Period Ending
2026 (Q1)Consensus EPS Forecast
0.28Last Year’s EPS
0.1Same Quarter Last Year
Moderate Buy
Based on 23 Analysts Ratings
Earnings Call Summary
Earnings Call Sentiment|Positive
The call emphasized multiple strong operational and financial wins: revenue growth (7.8% ex-Germany), sustained customer acquisition, meaningful margin expansion (contribution margin +250 bps YoY), large adjusted EBITDA and free cash flow improvements, significant deleveraging (net leverage <2.5x), and early success scaling strategic initiatives such as Wayfair Rewards and physical stores. Management acknowledged macro/category softness, near-term gross margin headwinds from strategic investments (tens of basis points), and seasonal working capital outflows in Q1, but framed these as intentional, accretive investments aimed at durable, compounding share gains and faster profit-dollar growth. On balance, the highlights (profitability, cash flow, deleveraging, program traction, and clear strategy with measurable guidance) materially outweigh the modest and largely strategic lowlights.Company Guidance
Revenue Growth
Net revenue grew 6.9% year-over-year on a reported basis and 7.8% year-over-year excluding the Germany exit; U.S. revenue was up >7% and international revenue grew ~4%.
Order and AOV Expansion
Revenue growth was evenly split between order growth and average order value (AOV) expansion, both increasing by more than 3% year-over-year.
Profitability and Margin Improvement
Q4 adjusted gross margin was 30.3% of net revenue. Contribution margin improved to 15.3% (up 250 basis points YoY). Q4 adjusted EBITDA was $224M (6.7% margin), more than double Q4 2024 adjusted EBITDA; full-year 2025 adjusted EBITDA grew over 60% to $743M with adjusted EBITDA margin improving by >200 basis points.
Free Cash Flow and Liquidity
Q4 free cash flow was $145M (over 40% YoY improvement). Full-year free cash flow rose to $329M from $83M in 2024. Cash on hand was $1.5B with total liquidity of $1.9B including revolver availability.
Capital Structure Progress and Deleveraging
Net leverage reduced to under 2.5x (from ~4x exiting 2024 and >6x in 2023). The company repurchased >$100M principal on 2027 convertible notes and repurchased convertible exposure equivalent to ~5M shares, helping offset potential dilution. Burn rate declined to ~4% in 2025 from an 11% peak in 2022.
Wayfair Rewards Early Traction
Wayfair Rewards surpassed 1 million members; rewards members now drive >15% of Wayfair US revenue. Average rewards members purchase across >3 occasions in their first year and spend multiples more than nonmembers. Conversion rates: furniture & decor nearly 3x higher and housewares >3.5x higher vs nonmembers.
Physical Retail Momentum
Chicago (Wilmette) store produced strong customer acquisition (more than half of store visitors were new to Wayfair) and lift in surrounding DMA with ~30% spread in frequency categories. New stores planned for Atlanta, Columbus (smaller ~70k sq ft), and Denver (≈150k sq ft) to extend that model.
Operational & Tech Initiatives
Tech re-platforming completed enabling redeployment of developer resources. Company is scaling AI initiatives (internal automation, supplier tools, agentic commerce partnerships) and product/fulfillment innovations (multichannel, Wayfair Delivery Plus) expected to drive compounding growth and efficiency.
Q1 2026 Guidance Demonstrates Profit Focus
Q1 guidance: mid single-digit revenue growth YoY, adjusted gross margin 30–31% (likely low end), contribution margin ~15%, SOT G&A $360–370M (likely lower end), and adjusted EBITDA in the range of 4.5%–5.5% of net revenue — signaling continued year-over-year EBITDA improvement.
W Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed
W Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
Feb 19, 2026 | $91.48 | $79.57 | -13.02% |
Oct 28, 2025 | $86.45 | $106.52 | +23.22% |
Aug 04, 2025 | $65.22 | $73.48 | +12.66% |
May 01, 2025 | $30.16 | $31.23 | +3.55% |
Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.
FAQ
When does Wayfair (W) report earnings?
Wayfair (W) is schdueled to report earning on Apr 30, 2026, Before Open (Confirmed).
What is Wayfair (W) earnings time?
Wayfair (W) earnings time is at Apr 30, 2026, Before Open (Confirmed).
Where can I see when companies are reporting earnings?
You can see which companies are reporting today on our designated earnings calendar.
What companies are reporting earnings today?
You can see a list of the companies which are reporting today on TipRanks earnings calendar.
What is W EPS forecast?
W EPS forecast for the fiscal quarter 2026 (Q1) is 0.28.
