Wayfair Inc (W) released its first quarter results on Friday, May 7, 2021. The company reported net earnings of $0.16 per share for the first quarter ending March 31, 2021. Earnings for this past quarter were up 105 percent compared to the same period a year ago.
Wayfair Inc. was founded in 2002 and is headquartered in Boston, Massachusetts. Wayfair Inc. engages in the e-commerce business in the United States and internationally. It provides approximately twenty-two million products for the home sector under various brands.
Wayfair's revenue increased 61 percent over the past trailing twelve-month period versus the previous twelve-month period. Gross margins increased to 31.15% for the first quarter compared to the same period in the previous year, and operating margins increased to 1.11% over the same period. Net earnings for past trailing twelve months were $489.1 million, up 146% from the prior year.
Moving on to the balance sheet, Wayfair's cash levels jumped 234% for the first quarter over the same period last year. Overall liquidity of the balance sheet, as measured by the current ratio, increased 69.36% this past year. The current ratio for Wayfair now stands at 1.45. The company increased shares outstanding by 9.96%.
Shares of W are currently trading around $305.49. In terms of valuation, the stock is trading at a trailing twelve-month price to earnings ratio of 71.68.