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Company Earning Updates

RH (NYSE: RH) 4Q18 Results: Beats on Comps and EPS but Misses on Revenues; Reduces 2019 Guidance to Below Consensus Estimates

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Coresight Research

Key Points

  • RH reported 4Q18 revenues of $670.89 million, flat year over year and missing the $686.4 million consensus estimate due to sales weakness in December which persisted through the remainder of Q4.
  • Adjusted EPS was $3.00, beating the $2.86 consensus estimate.
  • Comparable-brand revenue growth was 5%, beating the 4.8% estimate and the 2% reported in the year-ago quarter.
  • The company reduced 2019 guidance due to weakness in its core business as well as in high-end housing, guiding for 2019 adjusted net revenues of $2.58-2.63 billion, an increase of 3-5%, and adjusted EPS of $8.41-9.08, an increase of 11-19%.

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