Wayfair (W) Q1 2025 Earnings Call May 01, 2025 08:00 AM ET Company Participants Ryan Barney - Head of Investor RelationsNiraj Shah - Co-Founder, Chief Executive Officer & Co-ChairmanKate Gulliver - CFO & Chief Administrative OfficerJonathan Matuszewski - Senior Vice PresidentYgal Arounian - Director - Internet Equity ResearchSimeon Gutman - Managing Director Conference Call Participants Christopher Horvers - Senior AnalystBrian Nagel - MD & Senior Analyst - Consumer Growth & eCommerceMichael Lasser - Equity ...

Q1 Net Revenue of $2.7 billion with 21.1 million Active CustomersBOSTON, May 1, 2025 /PRNewswire/ -- Wayfair Inc. ("Wayfair," "we," or "our") (NYSE: W), the destination for all things home, today reported financial results for its first quarter ended March 31, 2025.First Quarter 2025 Financial Highlights Total net revenue of $2.7 billion, increased $1 million, or was close to flat, year over year U.S. net revenue of $2.4 billion, increased $38 million, up 1.6% year over year International net revenue of $30 ...

Industry Overview - The housing sector is facing challenges due to high interest rates and the lock-in effect of low mortgage rates from the pandemic, leading to existing home sales around 4 million, which is approximately 30% lower than pre-pandemic levels [1][2] - There is a significant housing shortage in the U.S., with estimates indicating a deficit of 3.8 million homes, which would take homebuilders about 7.5 years to address [2] Company Analysis: Williams-Sonoma - Williams-Sonoma operates in the housing market through its high-end home furnishings brands, including West Elm and Pottery Barn [5] - The company has maintained strong profit margins and controlled costs through effective inventory management and store rationalization, even in a sluggish market [6] - It has a history of returning capital to shareholders, recently raising its dividend by 16% to $0.66 per share, marking the 16th consecutive year of dividend increases [7] - The company has reduced its shares outstanding by about 20% over the last five years and reported a record Q4 operating margin of 21.5% with comparable sales growth of 3.1% [8] - Williams-Sonoma is well-regarded for its brand portfolio, management, and attractive valuation with a price-to-earnings ratio under 18, positioning it well for future demand recovery [9] Company Analysis: Green Brick Partners - Green Brick Partners has seen a 600% increase in stock value over the last five years, benefiting from low inventory of existing homes that has created demand for new homes [10] - The company differentiates itself by owning significant land and focusing on high-growth markets like Texas, Florida, and Georgia, which helps achieve better margins [11] - Green Brick reported an 18.1% revenue increase to $2.1 billion last year, with earnings per share rising 38% to $8.45 [12] - The stock is trading at a price-to-earnings ratio of less than 7, indicating it may be undervalued despite macroeconomic risks [12]