WayfairNYSE: W

Despite near-term headwinds, Wayfair's fundamentals remain strong. Wayfair continues to gain market share, demonstrating its strong competitive position in the online furniture market. As the company continues to execute on its growth strategy and the macro environment improves, the stock has the potential to significantly outperform.

W's third-quarter 2024 results reflect sluggishness across the United States region and lower net revenues per active customer.

Wayfair Inc. (NYSE:W ) Q3 2024 Earnings Conference Call November 1, 2024 8:00 AM ET Company Participants James Lamb - Head of IR Niraj Shah - CEO, Co-Chairman & Co-Founder Kate Gulliver - CFO & Chief Administrative Officer Steve Conine - Co-Chairman & Co-Founder Conference Call Participants Ygal Arounian - Citi Christopher Horvers - JPMorgan Peter Keith - Piper Sandler Simeon Gutman - Morgan Stanley Brian Nagel - Oppenheimer Curtis Nagle - Bank of America Colin Sebastian - Baird Oliver Wintermantel - Evercore ISI Operator Good day, and welcome to the Wayfair Third Quarter 2024 Earnings Release and Conference Call. All lines have been placed on mute to prevent any background noise.

Shares of Wayfair Inc (NYSE:W) are sliding today, reversing premarket gains despite the Boston-based department store name's better-than-expected third-quarter results.

Wayfair (W) shares slipped Friday even as adjusted profit soared above analysts' estimates as the online home furnishing retailer lost customers.

Wayfair (W) came out with quarterly earnings of $0.22 per share, beating the Zacks Consensus Estimate of $0.15 per share. This compares to loss of $0.13 per share a year ago.

Q3  Net Revenue of $2.9 billion with 21.7 million Active Customers BOSTON , Nov. 1, 2024 /PRNewswire/ -- Wayfair Inc. ("Wayfair," "we," or "our") (NYSE: W), one of the world's largest destinations for the home, today reported financial results for its third quarter ended September 30, 2024. Third Quarter 2024 Financial Highlights Total net revenue of $2.9 billion, decreased $60 million, down 2.0% year over year U.S. net revenue of $2.5 billion, decreased $60 million, down 2.3% year over year International net revenue of $372 million and International Net Revenue Constant Currency Growth remained constant year over year Gross profit was $873 million, or 30.3% of total net revenue Net loss was $74 million and Non-GAAP Adjusted EBITDA was $119 million Diluted loss per share was $0.60 and Non-GAAP Adjusted Diluted Earnings Per Share was $0.22 Net cash provided by operating activities was $49 million and Non-GAAP Free Cash Flow was ($9) million Cash, cash equivalents and short-term investments totaled $1.3 billion and total liquidity was $1.9 billion, including availability under our revolving credit facility "Q3 marked another proofpoint of resilience for Wayfair with further market share capture in the face of sustained challenges in the category.

Get a deeper insight into the potential performance of Wayfair (W) for the quarter ended September 2024 by going beyond Wall Street's top -and-bottom-line estimates and examining the estimates for some of its key metrics.

Rising interest rates torched the home furnishings stock.