Wayfair Inc. (W) Earnings
Wayfair Inc. is expected to report next earnings on August 3, 2026 (in NaN days), with a consensus EPS estimate of $0.88. W has beaten EPS estimates in 8 of its last 12 reported quarters (average surprise -7.9% over the last four).
| Report date | EPS est | EPS actual | Surprise | Revenue | Rev. surprise |
|---|---|---|---|---|---|
| Apr 30, 2026 | $0.26 | $0.26 | +0.0% | $2.9B | +1.5% |
| Feb 19, 2026 | $0.64 | $-0.89 | -239.4% | $3.3B | +1.2% |
| Oct 28, 2025 | $0.46 | $0.70 | +52.2% | $3.1B | -5.4% |
| May 1, 2025 | $-0.18 | $0.10 | +155.6% | $2.7B | -12.7% |
| Feb 20, 2025 | $0.05 | $-0.25 | -600.0% | $3.1B | +15.0% |
| Nov 1, 2024 | $0.15 | $0.22 | +46.7% | $2.9B | -5.4% |
| Aug 1, 2024 | $0.50 | $0.47 | -6.0% | $3.1B | -2.3% |
| May 2, 2024 | $-0.45 | $-0.32 | +28.9% | $2.7B | +3.6% |
| Feb 22, 2024 | $-0.23 | $-0.11 | +52.2% | $3.1B | +0.1% |
| Nov 1, 2023 | $-0.43 | $-0.13 | +69.8% | $2.9B | -1.3% |
| Aug 3, 2023 | $-0.67 | $0.21 | +131.3% | $3.2B | +2.2% |
| May 4, 2023 | $-1.72 | $-1.13 | +34.3% | $2.8B | +0.9% |
Source: company filings + earnings calendar. For informational purposes only — not investment advice.
Earnings call summary
Q1 FY2026 · April 30, 2026
AI summary of management’s prepared remarks and analyst Q&A. For informational purposes only — not investment advice.
Management highlights
- Wayfair had solid start in 2026 despite macro volatility. Home furnishings category was down in low single-digit but Wayfair outperformed by high single-digit. - Strong revenue led to best Q1 adjusted EBITDA margin in 5 years. - Years of capital structure optimization allowed repurchase of convertible bonds reducing dilution. - Focus on outperforming category, maximizing EBITDA dollars, and deploying excess cash. - International markets progress: Canada most mature with highest non-COVID market share, UK seeing consistent share gains. Leveraging core recipe, global technology scale including AI use, and marketing loyalty programs like Wayfair rewards.
Guidance
- Top line: Guide mid-single digits year-over-year growth for Q2, considering category volatility and share spread. - Gross margins: Guide range 29.5% - 30.5% of net revenue. - Customer service and merchant fees: Just below 4%. - Advertising: 10.5% - 11.5% range. - SOTG&A: Expected $360 - $370 million range. - Adjusted EBITDA margin: 6% - 7% of net revenue range.
Segment performance
Net revenue grew by 7% in Q1, driven by 3% order growth and 4% AOV expansion. US segment had 7.5% growth, international segment 6%. Gross margin 30.1% of net revenue. Contribution margin 15% in Q1, up 70 basis points year-over-year. Selling, operations, technology, general, and administrative expenses were $356 million, lowest since Q2 2019. Adjusted EBITDA was $151 million, 5.2% margin, up 130 basis points year-over-year. International markets showing structural share gains in Canada and UK with efforts in core recipe, technology scale, and marketing loyalty.
Analyst Q&A
Q: Diagnosis of environment impact, stimulus effect, wayday event signal;
A: Macro environment still out of favor for home category, stimulus not driving much spending in category, wayday event optimization of promotional calendar.
Q: Longer-term 20%+ organic growth rate, bridge dynamics;
A: 20%+ growth through programs like rewards, verified, physical retail, consumer tech investments, brand marketing.
Q: Q2 mid-single-digit revenue growth despite industry weakening;
A: Share gains accelerating due to rewards, verified, physical retail, site and marketing improvements.
Q: EBITDA bridge, gross margin impact of loyalty program;
A: Loyalty program part of gross margin investment, long-term trajectory to 10%+ EBITDA margin still on track.
Q: Consumer-facing agentic AI, vendor direct to customer;
A: Early stage AI, vendors face challenges in customer service and logistics for direct to customer.
Q: Gross margin pullback, agentic impact on platform value;
A: Gross margin pullback partially due to loyalty program, agentic not changing platform value much.
Q: Share gains, value-oriented marketplaces moving up;
A: Difficult for marketplaces to move up/down market, Wayfair's specialty in middle to upper market with exclusive items.
Q: Loyalty program impact on gross margin, balance sheet management;
A: Loyalty program growth impacts gross margin, balance sheet managed by buying back convertible bonds to reduce dilution