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Restoration Hardware: Fiscal 2Q Earnings Snapshot

September 10, 2019

CORTE MADERA, Calif. (AP) _ Restoration Hardware Holdings Inc. (RH) on Tuesday reported fiscal second-quarter profit of $63.8 million.

On a per-share basis, the Corte Madera, California-based company said it had net income of $2.86. Earnings, adjusted for non-recurring costs, came to $3.20 per share.

The results beat Wall Street expectations. The average estimate of eight analysts surveyed by Zacks Investment Research was for earnings of $2.70 per share.

The furniture and housewares company posted revenue of $706.5 million in the period, also beating Street forecasts. Six analysts surveyed by Zacks expected $698 million.

For the current quarter ending in November, Restoration Hardware expects its per-share earnings to range from $2.08 to $2.18. Analysts surveyed by Zacks had forecast adjusted earnings per share of $1.83.

The company said it expects revenue in the range of $672 million to $678 million for the fiscal third quarter. Analysts surveyed by Zacks had expected revenue of $669 million.

Restoration Hardware expects full-year earnings in the range of $10.53 to $10.76 per share, with revenue ranging from $2.68 billion to $2.69 billion.

Restoration Hardware shares have increased 33% since the beginning of the year. In the final minutes of trading on Tuesday, shares hit $158.83, an increase of 26% in the last 12 months.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on RH at https://www.zacks.com/ap/RH

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