Wayfair (W)
NYSE:W
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Earnings Data
Report Date
Jul 30, 2026Before Open (Confirmed)
Period Ending
2026 (Q2)Consensus EPS Forecast
0.86Last Year’s EPS
0.87Same Quarter Last Year
Moderate Buy
Based on 26 Analysts Ratings
Earnings Call Summary
Earnings Call Sentiment|Positive
The call presents a constructive operational and financial story: Wayfair reported solid revenue growth (+7.4% YoY), meaningful order/AOV improvements, best-in-years Q1 adjusted EBITDA margin (5.2%) and notable international and product/service momentum. Management is prioritizing profitable share gains via loyalty, verified offerings, store expansion and tech/AI investments while continuing aggressive balance sheet management (convertible repurchases, leverage reduction). Near-term challenges include a deeply cyclical home furnishings category (down vs. peak), gross margin pressure from loyalty/customer investments, and a negative free cash flow quarter driven by normal seasonality and working-capital timing. Overall, the positive indicators — share gains, EBITDA expansion, cost efficiencies, international traction and capital-structure progress — outweigh the near-term macro and margin headwinds.Company Guidance
Revenue Growth and Order Metrics
Net revenue grew 7.4% year-over-year in Q1 2026 (Niraj cited ~7%). Order growth was +3% and average order value (AOV) expanded +4% year-over-year. U.S. revenue was up 7.5% and International revenue was up 6%.
Adjusted EBITDA and Profitability Improvement
Adjusted EBITDA was $151 million in Q1, delivering a 5.2% adjusted EBITDA margin — the best Q1 margin in five years and up ~130 basis points year-over-year. Management reiterated a path to >10% adjusted EBITDA margin over time and guided Q2 adjusted EBITDA margin to ~6%–7%.
Contribution Margin and Gross Profit Dollars
Contribution margin was 15% in Q1, up 70 basis points versus the year-ago period. Management emphasized that investments (e.g., Rewards) may reduce gross margin percentage but are expected to expand gross profit dollars and EBITDA dollars as volume scales.
Cost Efficiency and SOTG&A Reduction
Selling, operations, technology, general & administrative expenses (SOTG&A) were $356 million in Q1 — the lowest level since Q2 2019. SOTG&A has been reduced nearly 40% from the 2022 peak, representing more than $800 million in annualized run-rate reduction.
Balance Sheet and Capital Structure Progress
Ended Q1 with $1.1 billion cash and $1.5 billion total liquidity (including undrawn revolver). Gross leverage fell to 3.8x, down about 3 turns year-over-year. Repurchased over $300 million face value of convertible notes in Q1 (reducing potential dilution by >4 million shares) and continued opportunistic repurchases in April.
International Momentum and Market Share Gains
Strong structural share gains in Canada and the U.K.: Canada reached its highest non-COVID market share last year, grew engagement +15% in Canadian-made/domestic product segment, and shaved nearly 2 days off delivery speeds year-over-year. U.K. catalog expanded to >6 million products and 60% of large-parcel orders deliver within 2 days. Wayfair Rewards launched in Canada (last month) and the U.K. (recent weeks) with early positive retention and lower acquisition costs for Rewards shoppers.
Product, Store and Marketing Execution
Successful Way Day engagement and a strong opening for the Atlanta store (opened stronger than Chicago). Creator program scaled from 0 to >1,000 creators in Canada, generating tens of millions of views. Management reported improved creative/advertising effectiveness while ad spend as a percent of revenue remains in a managed range (11.2% in Q1).
Technology and Gen/Agentic AI Deployment
Centralized tech org of >2,000 engineers accelerating catalog localization and enrichment via generative/agentic AI (translations for French Canada, autonomous attribute enrichment in the U.K.), improving speed-to-launch and search/merchandising relevance — operational leverage expected as these tools scale.
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 |
|---|---|---|---|
Apr 30, 2026 | $73.27 | $63.93 | -12.75% |
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% |
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 Jul 30, 2026, Before Open (Confirmed).
What is Wayfair (W) earnings time?
Wayfair (W) earnings time is at Jul 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 (Q2) is 0.86.
