Loading...
Loading...
- Overstock.com Inc OSTK reported a fourth-quarter FY22 sales decline of 34% year-on-year to $404.89 million, missing the consensus of $448.67 million.
- Active customers decreased 36% Y/Y to 5.2 million. Orders delivered fell 37% Y/Y to 1.9 million, and the average order value gained 4% Y/Y to $215.
- Orders placed on a mobile device were 52% of gross merchandise sales.
- Adjusted EPS of $(0.04) missed the analyst consensus of $0.02.
- Gross profit fell 35.5% Y/Y to $89.6 million, with a gross profit margin of 22.1%. Operating loss for the quarter was $(2.65) million.
- Adjusted EBITDA decreased to $6.5 million from $27.3 million last year.
- The company held $371.5 million in cash and equivalents as of Dec. 31, 2022.
- "Revenue declined 30% for the year, driven by the weak macroeconomic backdrop that impacted consumer sentiment and our strategic actions to become a prominent home-only on-line retailer," said CEO Jonathan Johnson.
- As of Dec. 31, 2022, the company had approximately $19.9 million remaining under the current share repurchase program authorization.
- Price Action: OSTK shares are trading lower by 7.22% at $19.54 on the last check Wednesday.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Comments
Loading...
Date | ticker | name | Actual EPS | EPS Surprise | Actual Rev | Rev Surprise |
---|
Benzinga simplifies the market for smarter investing
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
Join Now: Free!
Already a member?Sign in