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RH Reports Q2 2024 Earnings Beat with Adjusted EPS of $1.69, Revenue $829.7M, Stock Rises 20% After Hours

Sep 12, 2024, 08:10 PM

RH reported its Q2 2024 earnings with adjusted EPS of $1.69, beating the estimate of $1.62, and revenue of $829.7 million, slightly above the estimated $827.61 million. Despite a decline in net income by 62.1% year-over-year to $29 million, RH saw a significant after-hours stock increase of up to 20%. The company noted a 7% increase in demand for the second quarter, with accelerating demand trends into the third quarter, including a 12% rise in August. RH's Q3 2024 guidance includes demand growth of 12% to 14%, revenue growth of 7% to 9%, and an adjusted operating margin of 15% to 16%. For FY25, RH expects revenue growth of 5% to 7%, implying $3.18 billion to $3.24 billion. GAAP EPS was reported at $1.45, and adjusted net income was $33 million. The operating margin stood at 11.6%.