Overstock.com, Inc. (NASDAQ: OSTK) has just reported earnings. The online ‘overstock’ retailer, or “The O,” has posted an 8% decline in revenue of $187.4M and a net loss at -$0.09 EPS. We unfortunately did not have an accurate pool of estimates for a comparison. But this does represent an $0.11 improvement compared with the -$0.20 EPS in the same period a year ago.
Gross margins came in 20.1%, up from 16.7% a year ago and we saw an 11% increase in gross profit to $37.7 million. Overstock’s adjusted EBITDA improved to $14.3 million, a $13.2 million gain.
The company ended the quarter with $78.607 million in cash on hand and managed to trim its net inventory from $17.723 million at December 31 down to $11.695 million at the end of March.
Shares have reacted positively to earnings so far with a gain today of 11% at $12.59; its 52-week trading range is $6.34 to $29.59. Many consider Overstock a hybrid company that falls somewhere in between Amazon.com and eBay. They key difference is that the company is still losing money each quarter, and the others are not.
JON C. OGG
Want to Retire Early? Start Here (Sponsor)
Want retirement to come a few years earlier than you’d planned? Or are you ready to retire now, but want an extra set of eyes on your finances?
Now you can speak with up to 3 financial experts in your area for FREE. By simply clicking here you can begin to match with financial professionals who can help you build your plan to retire early. And the best part? The first conversation with them is free.
Click here to match with up to 3 financial pros who would be excited to help you make financial decisions.
Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.
Latest from 24/7
