Earnings summaries and quarterly performance for RH.
Executive leadership at RH.
Gary Friedman
Detailed
Chairman and Chief Executive Officer
CEO
EC
Eri Chaya
Detailed
President, Co-Chief Merchandising & Creative Officer
JP
Jack Preston
Detailed
Chief Financial Officer
LC
Lisa Chi
Detailed
President, Co-Chief Merchandising & Creative Officer
SD
Stefan Duban
Detailed
Chief Gallery & Customer Officer
Board of directors at RH.
Research analysts who have asked questions during RH earnings calls.
ML
Michael Lasser
UBS
9 questions for RH
Also covers: AAP, ASO, AZO +24 more
SG
Simeon Gutman
Morgan Stanley
8 questions for RH
Also covers: AAP, ACI, ARHS +32 more
BN
Brian Nagel
Oppenheimer & Co. Inc.
6 questions for RH
Also covers: ASO, AZO, BBY +17 more
JM
Jonathan Matuszewski
Jefferies Financial Group Inc.
6 questions for RH
Also covers: ARHS, ASO, BBBY +11 more
SF
Steven Forbes
Guggenheim Securities, LLC
6 questions for RH
Also covers: AAP, ARHS, AZO +15 more
Steven Zaccone
Citigroup
5 questions for RH
Also covers: AAP, AZO, BBY +14 more
MR
Maksim Rakhlenko
Cowen and Company
4 questions for RH
Also covers: BOOT, FND, OSW +3 more
Max Rakhlenko
TD Cowen
4 questions for RH
Also covers: ARHS, BOOT, ORLY +2 more
WA
W. Andrew Carter
Stifel
4 questions for RH
Also covers: ARHS, HAYW, HYFM +4 more
SB
Seth Basham
Wedbush Securities
3 questions for RH
Also covers: AAP, ARHS, ASO +9 more
Bradley Thomas
KeyBanc Capital Markets Inc.
2 questions for RH
Also covers: CENT, ETD, FIVE +10 more
Cristina Fernandez
Telsey Advisory Group
2 questions for RH
Also covers: ARHS, ASO, BWMX +7 more
CN
Curtis Nagle
Bank of America
2 questions for RH
Also covers: ACVA, BMBL, CHWY +12 more
SP
Steven Paul Forbes
Guggenheim Securities LLC
2 questions for RH
AW
Ariana Warden
Citi
1 question for RH
Also covers: AZO
CH
Christopher Horvers
JPMorgan Chase & Co.
1 question for RH
Also covers: AAP, ASO, AZO +17 more
MM
Marius Morar
Zelman & Associates
1 question for RH
SF
Steve Forbes
Guggenheim
1 question for RH
Also covers: DKS, ETSY, POOL +2 more
Zachary Fadem
Wells Fargo
1 question for RH
Also covers: AAP, AZO, CMG +11 more
Recent press releases and 8-K filings for RH.
RH Reports Q3 2026 Results and Updates FY 2025 Outlook
RH
Earnings
Guidance Update
New Projects/Investments
- RH reported 9% revenue growth for Q3 2026, with an adjusted operating margin of 11.6% and $83 million in free cash flow.
- The company updated its Fiscal Year 2025 outlook, projecting revenue growth of 9%-9.2%, an adjusted EBITDA margin of 17.6%-18%, and free cash flow between $250 million and $300 million.
- RH continues to navigate challenges from the worst housing market in almost 50 years and tariffs, which contributed to the Q3 adjusted operating margin being below guidance.
- Strategic investments include international expansion with the opening of RH Paris and planned RH Milan, a new product concept launch in spring next year, and development of its global hospitality business and interior design firm.
Dec 11, 2025, 10:00 PM
RH Reports Q3 2026 Results and Updates FY 2025 Outlook
RH
Earnings
Guidance Update
New Projects/Investments
- RH reported Q3 2026 revenue growth of 9% and an adjusted operating margin of 11.6%, generating $83 million in free cash flow for the quarter.
- The company updated its fiscal year 2025 outlook, projecting revenue growth of 9%-9.2%, an adjusted operating margin of 11.6%-11.9%, and free cash flow of $250 million-$300 million.
- Strategic initiatives include international expansion with the opening of RH Paris and plans for a new product concept launch in spring next year at Salone in Milan.
- RH is navigating challenges from the worst housing market in almost 50 years and tariffs, while reducing net debt to $2.427 billion and decreasing inventory by 11% year-over-year.
Dec 11, 2025, 10:00 PM
RH Reports Q3 2026 Results and Updates Fiscal Year 2025 Outlook
RH
Earnings
Guidance Update
New Projects/Investments
- RH reported Q3 2026 revenue growth of 9% and an adjusted operating margin of 11.6%, with adjusted EBITDA at 17.6%. The adjusted operating margin was below guidance due to higher-than-forecasted tariff expenses and higher-than-expected tariffs opening expenses.
- The company generated $83 million in free cash flow for Q3 2026, bringing year-to-date free cash flow to $198 million, and is on track to achieve its fiscal year 2025 outlook of $250 million to $300 million. Net debt at the end of Q3 was $2.427 billion, and inventory was down 11% versus last year.
- For Q4 2026, RH projects revenue growth of 7%-8% and an adjusted operating margin of 12.5%-13.5%. The updated fiscal year 2025 outlook includes revenue growth of 9%-9.2% and an adjusted operating margin of 11.6%-11.9%.
- RH continues to gain market share despite the worst housing market in almost 50 years and tariff impacts, while aggressively investing in international expansion, including the recent opening of RH Paris, and plans to launch a significant new product collection in spring 2027.
Dec 11, 2025, 10:00 PM
RH announces Q3 2025 financial results and provides outlook
RH
Earnings
Guidance Update
- RH reported Q3 2025 net revenues of $884 million, a 9% increase year-over-year, and net income of $36 million, also up 9%.
- The company generated $83 million in free cash flow for Q3 2025, bringing year-to-date free cash flow to $198 million, and is on track to achieve its full-year outlook of $250 million to $300 million.
- Adjusted operating margin for Q3 2025 was 11.6%, and adjusted EBITDA margin was 17.6%.
- Net debt at the end of Q3 2025 was $2.427 billion, a decrease of $85 million from Q2, with inventory down 11% versus last year.
- For Q4 2025, RH projects revenue growth of 7% to 8%, an adjusted operating margin of 12.5% to 13.5%, and an adjusted EBITDA margin of 18.7% to 19.6%. The Fiscal Year 2025 outlook includes revenue growth of 9.0% to 9.2%, an adjusted operating margin of 11.6% to 11.9%, and an adjusted EBITDA margin of 17.6% to 18.0%.
Dec 11, 2025, 9:46 PM
RH Reports Q2 2025 Results and Lowers Full-Year Guidance
RH
Earnings
Guidance Update
Demand Weakening
- Luxury furniture retailer RH reported Q2 2025 revenue of approximately $899 million, an 8.4% year-over-year increase, which was slightly below analyst expectations, and non-GAAP profit of $2.93 per share, 8.9% below consensus estimates.
- The company revised its full-year revenue growth outlook downward to 9% to 11% from an earlier forecast of 10% to 13%, with current guidance for the next quarter also falling short of estimates.
- Despite the revenue miss and lowered guidance, RH's operating margin improved to 14.3% in Q2 2025, and free cash flow turned positive at $80.68 million, a significant improvement from the prior year.
- Financial metrics reveal some concerns, including a low Altman Z-Score of 1.41 and a quick ratio of 0.29, suggesting potential bankruptcy risk and liquidity pressures, despite a strong gross margin of 44.5%.
Sep 11, 2025, 9:08 PM
RH Reports Strong Q2 2026 Results and Updates Fiscal 2025 Guidance
RH
Earnings
Guidance Update
New Projects/Investments
- RH reported strong Q2 2026 financial performance, with revenue increasing 8.4% and demand up 13.7%, contributing to a 79% increase in net income and $81 million in free cash flow.
- The company revised its fiscal year 2025 outlook, now expecting revenue growth of 9%-11% and adjusted operating margin of 13%-14%, with free cash flow projected between $250 million-$300 million. This guidance incorporates a $30 million cost from incremental tariffs and a $40 million revenue shift from Q3 to Q4 2025 and Q1 2026 due to delayed source book distribution.
- RH is expanding its global presence, highlighted by the successful September 5th opening of RH Paris, which has seen traffic surpass RH New York, and plans for additional galleries in London and Milan in spring 2026, with the European expansion potentially doubling RH's size in 5-7 years.
- To address tariff challenges, RH is significantly shifting its supply chain, aiming to reduce receipts from China to 2% by Q4 from 16% in Q1, and increasing US production of upholstered furniture to 52% by the end of fiscal 2025.
Sep 11, 2025, 9:00 PM
RH Reports Strong Q2 2026 Results and Updates Fiscal Year 2025 Outlook
RH
Earnings
Guidance Update
New Projects/Investments
- RH reported strong financial performance for Q2 2026, with revenue increasing 8.4% and demand up 13.7%. The company also saw significant margin expansion, with adjusted operating margin reaching 15.1% and adjusted EBITDA at 20.6%.
- The company revised its fiscal year 2025 outlook, now projecting revenue growth of 9% to 11%, adjusted operating margin of 13% to 14%, adjusted EBITDA margin of 19% to 20%, and free cash flow between $250 million and $300 million. This outlook incorporates an approximate 200 basis point operating margin impact from international expansion investments and a 90 basis point impact from tariffs.
- Tariff uncertainty has led to a $30 million cost of incremental tariffs net of mitigation in the second half of 2025 and the delay of a new brand extension launch to spring 2026. RH is actively shifting sourcing out of China and India, and projects 52% of its upholstered furniture will be produced in the United States by the end of fiscal year 2025.
- International expansion continues with the September 5th opening of RH Paris, which has shown a strong start, and plans to open galleries in London and Milan in spring 2026. RH anticipates its European and Middle Eastern operations could double the size of the company over the next five to seven years.
- RH expects adjusted capital expenditures to decrease to a range of $200 million to $250 million in 2026 and $150 million to $200 million in 2027 and beyond. The company also plans to monetize approximately $500 million in real estate assets and convert $300 million in excess inventory into cash over the next 12 to 18 months.
Sep 11, 2025, 9:00 PM
RH Reports Strong Q2 2026 Results and Updates Fiscal Year 2025 Guidance
RH
Earnings
Guidance Update
New Projects/Investments
- RH reported strong Q2 2026 results, with revenue increasing 8.4% and demand up 13.7%. Adjusted operating margin reached 15.1% and net income increased 79%. The company provided revised fiscal year 2025 guidance, expecting revenue growth of 9% to 11% and adjusted operating margin of 13% to 14%, with free cash flow between $250 million and $300 million.
- The company is actively managing tariff impacts, anticipating a $30 million cost of incremental tariffs net of mitigation in the second half of fiscal 2025. Sourcing from China is expected to decrease from 16% in Q1 to 2% in Q4, and RH is addressing 50% tariffs imposed on India, which affects 7% of its business.
- International expansion is progressing, highlighted by the successful September 5th opening of RH Paris, which has seen traffic exceed RH New York and a strong design pipeline. RH England's demand increased 76% in Q2, and the company plans to open four additional design galleries in North America in 2025, with London and Milan openings slated for spring 2026.
- The launch of a new brand extension, originally planned for the second half of 2025, has been delayed to spring 2026 due to tariff uncertainty, and the fall interior source book was also delayed by eight weeks.
Sep 11, 2025, 9:00 PM
RH Reports Strong Q2 2026 Results, Updates Fiscal Year 2025 Guidance, and Details International Expansion
RH
Earnings
Guidance Update
New Projects/Investments
- RH reported strong Q2 2026 results, with revenue increasing 8.4% and demand up 13.7%, alongside a 79% increase in net income and $81 million in free cash flow.
- The company revised its fiscal year 2025 outlook, projecting revenue growth of 9% to 11%, adjusted operating margin of 13% to 14%, and free cash flow between $250 million and $300 million.
- International expansion is progressing with the successful opening of RH Paris on September 5th, which has seen traffic exceed RH New York and a design pipeline greater than the first five European galleries combined in their initial six days. RH expects European expansion to double its size over the next five to seven years.
- Tariffs continue to impact the business, with an estimated $30 million cost of incremental tariffs net of mitigation in the second half of 2025, leading to a delay in the new brand extension launch to spring 2026 and a shift of $40 million in Q3 revenues to Q4 and Q1 2026. The company is shifting sourcing out of China and increasing US upholstered furniture production to 52% by the end of fiscal 2025.
Sep 11, 2025, 9:00 PM
RH Reports Strong Q2 2025 Results and Updates Fiscal 2025 Guidance
RH
Earnings
Guidance Update
New Projects/Investments
- RH reported strong financial results for Q2 2025, with net income increasing 79% to $51.7 million on net revenues of $899.2 million, an 8.4% increase, and generated $80.7 million in free cash flow.
- Demand for Q2 2025 increased 13.7%, and on a two-year basis, revenues increased 12% and demand increased 21%.
- The company revised its fiscal year 2025 outlook, now expecting revenue growth of 9% to 11%, adjusted operating margin of 13.0% to 14.0%, adjusted EBITDA margin of 19.0% to 20.0%, and free cash flow of $250 million to $300 million. This revision is partly due to a $30 million cost of incremental tariffs and delays in product launches and sourcebook distribution.
- RH continues its global expansion, having opened RH Paris on September 5, 2025, and plans to open four additional Design Galleries in North America for the remainder of 2025.
Sep 11, 2025, 8:18 PM
Quarterly earnings call transcripts for RH.
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