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Wayfair (W) to Report Q2 Earnings: What's in the Cards?
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Wayfair, Inc. (W - Free Report) is scheduled to report second-quarter 2020 results on Aug 5.
For second-quarter 2020, the Zacks Consensus Estimate for sales is currently pegged at $3.95 billion, indicating an improvement of 68.8% from the prior-year quarter.
Further, the Zacks Consensus Estimate for earnings is pegged at 89 cents per share, implying an increase of 165.9% from the year-ago reported figure.
The company missed the Zacks Consensus Estimate in two of the trailing four quarters. It has a trailing four-quarter negative earnings surprise of 0.04%, on average.
Coronavirus pandemic-led spike in online home furnishing orders is likely to have driven the company’s performance in the quarter to be reported.
It persistently witnessed strong demand across most home goods categories in both U.S. and International segments during the second quarter. This is likely to get reflected in the company’s second-quarter results.
Further, it witnessed more than double rate of growth in gross revenues toward the end of the first quarter, which might have continued in the second quarter.
Wayfair’s second-quarter performance might have benefited from the strengthening direct retail business across the United States and international regions.
Moreover, the business is anticipated to have bolstered the company’s active customer base in the quarter under review. This is likely to have driven its second-quarter’s performance.
Further, the company’s growing efforts for expanding house-brand offerings in the U.K. and North America are expected to have contributed to second-quarter performance.
What Our Model Says
Our proven model predicts an earnings beat for Wayfair this time around. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the odds of an earnings beat. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Wayfair has an Earnings ESP of +43.47% and a Zacks Rank #3.
Other Stocks to Consider
Here are some other companies, which also have the right combination of elements to post an earnings beat in the to-be-reported quarter:
Synaptics (SYNA - Free Report) has an Earnings ESP of +10.60% and currently carries a Zacks Rank of 2.
Benefitfocus has an Earnings ESP of +6.25% and carries a Zacks Rank of 2, currently.
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Wayfair (W) to Report Q2 Earnings: What's in the Cards?
Wayfair, Inc. (W - Free Report) is scheduled to report second-quarter 2020 results on Aug 5.
For second-quarter 2020, the Zacks Consensus Estimate for sales is currently pegged at $3.95 billion, indicating an improvement of 68.8% from the prior-year quarter.
Further, the Zacks Consensus Estimate for earnings is pegged at 89 cents per share, implying an increase of 165.9% from the year-ago reported figure.
The company missed the Zacks Consensus Estimate in two of the trailing four quarters. It has a trailing four-quarter negative earnings surprise of 0.04%, on average.
Wayfair Inc. Price and EPS Surprise
Wayfair Inc. price-eps-surprise | Wayfair Inc. Quote
Factors to Note
Coronavirus pandemic-led spike in online home furnishing orders is likely to have driven the company’s performance in the quarter to be reported.
It persistently witnessed strong demand across most home goods categories in both U.S. and International segments during the second quarter. This is likely to get reflected in the company’s second-quarter results.
Further, it witnessed more than double rate of growth in gross revenues toward the end of the first quarter, which might have continued in the second quarter.
Wayfair’s second-quarter performance might have benefited from the strengthening direct retail business across the United States and international regions.
Moreover, the business is anticipated to have bolstered the company’s active customer base in the quarter under review. This is likely to have driven its second-quarter’s performance.
Further, the company’s growing efforts for expanding house-brand offerings in the U.K. and North America are expected to have contributed to second-quarter performance.
What Our Model Says
Our proven model predicts an earnings beat for Wayfair this time around. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the odds of an earnings beat. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Wayfair has an Earnings ESP of +43.47% and a Zacks Rank #3.
Other Stocks to Consider
Here are some other companies, which also have the right combination of elements to post an earnings beat in the to-be-reported quarter:
Cogent Communications Holdings (CCOI - Free Report) has an Earnings ESP of +11.66% and carries a Zacks Rank of 2, at present. You can see the complete list of today’s Zacks #1 Rank stocks here.
Synaptics (SYNA - Free Report) has an Earnings ESP of +10.60% and currently carries a Zacks Rank of 2.
Benefitfocus has an Earnings ESP of +6.25% and carries a Zacks Rank of 2, currently.
Breakout Biotech Stocks with Triple-Digit Profit Potential
The biotech sector is projected to surge beyond $775 billion by 2024 as scientists develop treatments for thousands of diseases. They’re also finding ways to edit the human genome to literally erase our vulnerability to these diseases.
Zacks has just released Century of Biology: 7 Biotech Stocks to Buy Right Now to help investors profit from 7 stocks poised for outperformance. Our recent biotech recommendations have produced gains of +50%, +83% and +164% in as little as 2 months. The stocks in this report could perform even better.
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