The earnings call presented a balanced view with significant international expansion and product transformation efforts being offset by challenges in the housing market and margin pressures. While there are positive long-term strategic initiatives, current market conditions are creating headwinds.

Company Guidance

In the Q3 2024 earnings call for RH, the company reported net revenues of $751 million, achieving the midpoint of their guidance, while adjusted operating margin was slightly below expectations at 7.3% due to higher expenses from international openings and acquisition efforts. The company expects revenues for the year to range from $3.06 billion to $3.08 billion, with adjusted operating margins between 13.6% and 14%. RH highlighted headwinds from rising mortgage rates and geopolitical tensions impacting demand, but expressed optimism about future growth driven by new product launches and global expansion, including new galleries in Munich and Dusseldorf. The company's strategic focus includes transformative product collections, with expectations of demand acceleration through the first half of 2024, aiming to reach an inflection point in Q2. RH's long-term vision also involves expanding the brand globally, with upcoming openings planned in Brussels, Madrid, and Paris, integrating hospitality services to enhance the brand experience.

International Expansion Success

RH expanded internationally with the opening of RH England, RH Munich, and RH Düsseldorf, receiving positive feedback and strong attendance at launch events. Future openings planned for Brussels, Madrid, and Paris.

Opportunistic Real Estate Investment

RH is purchasing the New York Guest House property for $58 million, below its $85 million appraised value, with plans for a future sale-leaseback when the market rebounds.

Product Transformation

RH is undergoing its largest product transformation with new collections such as RH Interiors, RH Contemporary, and upcoming RH Modern and RH Outdoor Source Books.

Long-term Growth Strategy

RH is pursuing a multi-billion dollar opportunity by expanding globally, transforming North American galleries, and developing new products and services.

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RH (RH) Earnings, Revenues Date & History

The upcoming earnings date is based on a company’s previous reporting, and may be updated when the actual date is announced

Daily Earnings Calendar >

RH Earnings History

Report Date	Fiscal Quarter	Forecast / EPS	Last Year's EPS	EPS YoY Change	Slides	Play Transcript
Sep 04, 2018	2018 (Q2)	- / 2.49	0.65	283.08% (+1.84)	―	―
Dec 03, 2018	2018 (Q3)	- / 1.73	1.04	66.35% (+0.69)	―	―
Mar 28, 2019	2018 (Q4)	- / 3.00	1.69	77.51% (+1.31)	―	―
Jun 12, 2019	2019 (Q1)	- / 1.85	1.33	39.10% (+0.52)	―	―
Sep 10, 2019	2019 (Q2)	- / 3.20	2.49	28.51% (+0.71)	―	―
Dec 04, 2019	2019 (Q3)	- / 2.79	1.73	61.27% (+1.06)	―	―
Mar 30, 2020	2019 (Q4)	- / 3.72	3	24.00% (+0.72)	―	―
Jun 04, 2020	2020 (Q1)	- / 1.27	1.85	-31.35% (-0.58)	―	―
Sep 09, 2020	2020 (Q2)	- / 4.90	3.2	53.13% (+1.70)	―	―
Dec 09, 2020	2020 (Q3)	- / 6.20	2.79	122.22% (+3.41)	―	―

The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.

Beat

Missed

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RH Earnings-Related Price Changes

Report Date	Price 1 Day Before	Price 1 Day After	Percentage Change
Dec 12, 2024	$381.38	$446.04	+16.95%
Sep 12, 2024	$256.49	$321.87	+25.49%
Jun 13, 2024	$277.05	$229.73	-17.08%
Mar 27, 2024	$296.99	$348.26	+17.26%

Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.

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