Earnings To Watch: Overstock (OSTK) Reports Q3 Results Tomorrow

Adam Hejl /
2022/10/26 3:04 am EDT

Online home goods retailer Overstock (NASDAQ: OSTK) will be reporting results tomorrow morning. Here's what you need to know.

Last quarter Overstock reported revenues of $528.1 million, down 33.5% year on year, missing analyst expectations by 12%. It was a weak quarter for the company, with declining number of users and slow revenue growth. The company reported 6.5 million active buyers, down 29.3% year on year.

Is Overstock buy or sell heading into the earnings? Read our full analysis here, it's free.

This quarter analysts are expecting Overstock's revenue to decline 31.1% year on year to $474.5 million, a further deceleration on the 3.94% year-over-year decrease in revenue the company had recorded in the same quarter last year. Adjusted earnings are expected to come in at $0.05 per share.

Overstock Total Revenue

Majority of analysts covering the company have reconfirmed their estimates over the last thirty days, suggesting they are expecting the business to stay the course heading into the earnings. The company missed Wall St's revenue estimates four times over the last two years.

Looking at Overstock's peers in the consumer internet segment, only Snap has so far reported results, delivering top-line growth of 5.71% year on year, missing analyst estimates by 0.92%. The stock was down 21.5% on the results. Read our full analysis of Snap's earnings results here.

Investors in the consumer internet segment have had steady hands going into the earnings, with the stocks down on average 0.37% over the last month. Overstock is up 4.21% during the same time, and is heading into the earnings with analyst price target of $53.80, compared to share price of $24.75.

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The author has no position in any of the stocks mentioned.