RH Stock Sinks After Hours - Revenue Dip, Challenging Luxury Housing Market and More
Portfolio Pulse from Ryan Gustafson
RH reported Q2 earnings of $3.93 per share, beating the analyst consensus estimate of $2.56, but a 51.36% decrease from last year. The company also reported quarterly sales of $800.48 million, beating the analyst consensus estimate of $784.90 million, but a 19.28% decrease from last year. RH repurchased 3.7 million shares in Q2 at an average price of $325.65. The company raised its revenue guidance for 2023 and expects challenging conditions in the luxury housing market and broader economy throughout 2023 and into 2024.
September 07, 2023 | 8:55 pm
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RH reported better than expected Q2 earnings and sales but both were significantly lower YoY. The company also repurchased shares and raised its 2023 revenue guidance, but expects challenging market conditions.
Despite beating estimates, RH reported significant YoY decreases in earnings and sales, which could negatively impact investor sentiment. The company's share repurchase and raised revenue guidance might offset some of this negative impact, but the company's expectation of challenging market conditions could further dampen investor sentiment.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100