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Overstock.com (OSTK) to Report Q3 Earnings: What's in Store?
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Overstock.com is set to report third-quarter 2022 results on Oct 27.
For the quarter, the Zacks Consensus Estimate for earnings has been unchanged at 12 cents per share over the past 30 days. The figure indicates a 77.78% decline from the year-ago reported figure.
The consensus mark for revenues, pegged at $491.20 million, implies a 28.75% decline from the year-ago reported figure.
Let’s see how things have shaped up for this announcement.
Overstock’s third-quarter 2022 results are expected to be hit by macroeconomic factors like rising interest rates, recession fears, supply chain disruptions and geopolitical tensions.
As the COVID-19 restrictions have relaxed, customers have switched back to their offline shopping behavior, which could have impacted the company’s growth.
The decline in demand in the real estate sector is likely to have served as a headwind for Overstock as the stretched wallets of consumers might have reduced spending on home and home appliances in the to-be-reported quarter.
The company has also been suffering from cost escalations in the form of technology expenses in the past year. The trend is likely to have continued in the third quarter as well. This could further hinder the company’s bottom line.
However, the company has an asset-light business model and doesn’t have expensive logistics operations with a high fixed cost base or significant owned inventory. This is an advantage for Overstock in such times of distress and could have prevented the bottom line from falling further in the to-be-reported quarter.
Key Q3 Development
On Aug 26, Overstock completed the second tranche of its planned investment in the tZero Group, after its initial funding was announced in February of this year. This aids Overstock in the early adoption of blockchain technology to revolutionize and democratize capital markets and have an edge over peers.
What Our Model Says
Per the Zacks model, 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. But that’s not the case.
Overstock has an Earnings ESP of 0.00% and a Zacks Rank #3. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Stocks to Consider
Per our model, Equinor (EQNR - Free Report) , Kimbell Royalty (KRP - Free Report) and Murphy (MUSA - Free Report) have the right combination of elements to post an earnings beat in their upcoming releases.
Equinor has an Earnings ESP of +25.07% and sports a Zacks Rank #1. The company is anticipated to report its third-quarter 2022 results on Oct 26. Equinor’s earnings surpassed the Zacks Consensus Estimate in all of the trailing four quarters, the average surprise being 7.3%. You can see the complete list of today’s Zacks #1 Rank stocks here.
The Zacks Consensus Estimate for EQNR’s third-quarter earnings is pegged at $1.78 per share, indicating a 109.4% surge from the year-ago quarter’s 85 cents per share. The consensus mark for revenues stands at $57.68 billion, suggesting a year-over-year increase of 147.9%.
Kimbell Royalty has an Earnings ESP of +21.88% and currently sports a Zacks Rank #1. The company is slated to report its third-quarter 2022 results on Nov 3. Kimbell’s earnings beat the Zacks Consensus Estimate twice in the preceding four quarters and missed on the other two occasions, the average surprise being 34.4%.
The Zacks Consensus Estimate for Kimbell’s third-quarter earnings stands at 32 cents per share, implying a year-over-year increase of 700%. KRP is estimated to report revenues of $67.8 million, which suggests a surge of 113.1% from the year-ago quarter.
Murphy USA has an Earnings ESP of +12.68% and carries a Zacks Rank #1 at present. The company is slated to report its third-quarter 2022 results on Oct 26. Murphy’s earnings beat the Zacks Consensus Estimate in all of the preceding four quarters, the average surprise being 49%.
The Zacks Consensus Estimate for quarterly earnings is pegged at $7.82 per share, suggesting a year-over-year increase of 96.5%. MUSA’s quarterly revenues are estimated to increase 29.7% year over year to $5.96 billion.
Image: Bigstock
Overstock.com (OSTK) to Report Q3 Earnings: What's in Store?
Overstock.com is set to report third-quarter 2022 results on Oct 27.
For the quarter, the Zacks Consensus Estimate for earnings has been unchanged at 12 cents per share over the past 30 days. The figure indicates a 77.78% decline from the year-ago reported figure.
The consensus mark for revenues, pegged at $491.20 million, implies a 28.75% decline from the year-ago reported figure.
Let’s see how things have shaped up for this announcement.
Overstock.com, Inc. Price and EPS Surprise
Overstock.com, Inc. price-eps-surprise | Overstock.com, Inc. Quote
Factors to Consider
Overstock’s third-quarter 2022 results are expected to be hit by macroeconomic factors like rising interest rates, recession fears, supply chain disruptions and geopolitical tensions.
As the COVID-19 restrictions have relaxed, customers have switched back to their offline shopping behavior, which could have impacted the company’s growth.
The decline in demand in the real estate sector is likely to have served as a headwind for Overstock as the stretched wallets of consumers might have reduced spending on home and home appliances in the to-be-reported quarter.
The company has also been suffering from cost escalations in the form of technology expenses in the past year. The trend is likely to have continued in the third quarter as well. This could further hinder the company’s bottom line.
However, the company has an asset-light business model and doesn’t have expensive logistics operations with a high fixed cost base or significant owned inventory. This is an advantage for Overstock in such times of distress and could have prevented the bottom line from falling further in the to-be-reported quarter.
Key Q3 Development
On Aug 26, Overstock completed the second tranche of its planned investment in the tZero Group, after its initial funding was announced in February of this year. This aids Overstock in the early adoption of blockchain technology to revolutionize and democratize capital markets and have an edge over peers.
What Our Model Says
Per the Zacks model, 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. But that’s not the case.
Overstock has an Earnings ESP of 0.00% and a Zacks Rank #3. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Stocks to Consider
Per our model, Equinor (EQNR - Free Report) , Kimbell Royalty (KRP - Free Report) and Murphy (MUSA - Free Report) have the right combination of elements to post an earnings beat in their upcoming releases.
Equinor has an Earnings ESP of +25.07% and sports a Zacks Rank #1. The company is anticipated to report its third-quarter 2022 results on Oct 26. Equinor’s earnings surpassed the Zacks Consensus Estimate in all of the trailing four quarters, the average surprise being 7.3%. You can see the complete list of today’s Zacks #1 Rank stocks here.
The Zacks Consensus Estimate for EQNR’s third-quarter earnings is pegged at $1.78 per share, indicating a 109.4% surge from the year-ago quarter’s 85 cents per share. The consensus mark for revenues stands at $57.68 billion, suggesting a year-over-year increase of 147.9%.
Kimbell Royalty has an Earnings ESP of +21.88% and currently sports a Zacks Rank #1. The company is slated to report its third-quarter 2022 results on Nov 3. Kimbell’s earnings beat the Zacks Consensus Estimate twice in the preceding four quarters and missed on the other two occasions, the average surprise being 34.4%.
The Zacks Consensus Estimate for Kimbell’s third-quarter earnings stands at 32 cents per share, implying a year-over-year increase of 700%. KRP is estimated to report revenues of $67.8 million, which suggests a surge of 113.1% from the year-ago quarter.
Murphy USA has an Earnings ESP of +12.68% and carries a Zacks Rank #1 at present. The company is slated to report its third-quarter 2022 results on Oct 26. Murphy’s earnings beat the Zacks Consensus Estimate in all of the preceding four quarters, the average surprise being 49%.
The Zacks Consensus Estimate for quarterly earnings is pegged at $7.82 per share, suggesting a year-over-year increase of 96.5%. MUSA’s quarterly revenues are estimated to increase 29.7% year over year to $5.96 billion.
Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar.