Overstock.com, Inc. (OSTK) stock surged 7.52% in the after-market trading session at the price of $101.98 despite no fundamental reason. Overstock.com, Inc. is an online retailer firm located in Salt Lake City, Utah. Its e-commerce website sells a variety of domestic products at low prices, including furniture, bedding, area rugs, décor, home improvement, and more.
OSTK Announced Cash Dividend for Series A-1 and Series B Stock
On 15th November 2021, OSTK published an annual cash dividend of $0.16 per share to stockholders of Series A-1 and Series B Preferred Stock. The annual cash dividend will be payable to shareholders of record on 16th December 2021. The ex-dividend date for both Series A-1 and Series B Preferred Stock has anticipated to be 29th November 2021.
Management Comments
Chief executive officer of OSTK, Jonathan Johnson, remarked that this is their fifth consecutive year of paying a cash dividend to shareholders. Their focus on sustainable and profitable market share growth will enable the company to grow with a united mission. This cash dividend emphasizes the value of their preferred shares and the strength of their balance sheet.
OSTK Third Quarter 2021 Financial Results
On 28th October 2021, OSTK announced its financial and operational results for the third quarter ended on 30th September 2021.
OSTK Financial Highlights
OSTK reported net revenue of $689 million for the third quarter of 2021. It represents a drop of 4% from the same quarter of 2020. For the third quarter ended 30th September 2021, gross profit totaled $157 million or 22.7% of net revenue. The company reported $30 million in income from operations during the third quarter of 2021. Diluted earnings per share were $0.63 for the third quarter ended 30th September 2021. As of 30th September 2021, cash and cash equivalents were $512 million.
Operational Highlights
OSTK reported active customers of 8.7 million, a year-over-year gain of 5%. Net revenue per active customer totaled $325 for the Last Twelve Months (LTM). It represents a year-over-year gain of 23%. The company reported total delivered orders of 3.2 million, year over year drop of 22%.
