Overstock Clocks 33% Revenue Decline In Q3

  • Overstock.com Inc OSTK reported a third-quarter FY22 sales decline of 33% year-on-year to $460.28 million, missing the consensus of $479.46 million.
  • Active customers decreased 33% Y/Y to 5.8 million. Orders delivered fell 41% Y/Y to 1.9 million, and the average order value gained 13% Y/Y to $243.
  • Adjusted EPS of $0.13 beat the analyst consensus of $0.12.
  • Gross profit fell 31.4% Y/Y to $107.5 million, with a gross profit margin of 23.3%.
  • Operating margin was 1.2%, and operating income for the quarter declined over 95% to $5.7 million.
  • Adjusted EBITDA decreased to $14.8 million from $36.1 million last year.
  • The company held $427.5 million in cash and equivalents as of September 30, 2022. Cash provided by operating activities for nine months amounted to $17.6 million.
  • Price Action: OSTK shares are trading lower by 3.39% at $24.76 on the last check Thursday.
Market News and Data brought to you by Benzinga APIs
Actual EPS
EPS Surprise
Actual Rev
Rev Surprise
Posted In: EarningsNewsSmall CapBriefs
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!