RH Stock Recovers After Better-Than-Expected Q2 Results: Details – RH (NYSE:RH)

SECTION HR-V SECTION HR-V Shares are rising after the company reported its second-quarter financial results after the market closed on Thursday. Here's a look at the details of the report.

The details: RH, a manufacturer of home furniture, reported quarterly earnings of $1.69 per share, beating analysts' consensus estimates of $1.56 by 8.33%. Quarterly revenue of $829.65 million beat the consensus estimate of $824.52 million, representing year-over-year growth of 3.64%.

The company will host a conference call on Thursday at 5:00 p.m. ET to discuss the results.

“We are pleased to report that demand increased by 7% in the second quarter and has continued to trend positively, gaining momentum each month and closing July up 10%. Demand accelerated in the third quarter, with August up 12% and product margins remaining positive despite the most difficult housing market in three decades,” commented CEO Gary Friedman.

“Our investments in the most productive product transformation and platform expansion in our history are now leading RH to gain significant market share in North America while laying the foundation for our long-term global expansion in Europe, Australia and the Middle East over the next decade.”

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Outlook: RH adjusted its third quarter revenue growth forecast to a range of 7% to 9% and its full year revenue growth forecast to a range of 5% to 7%.

RH price promotion: According to Benzinga Pro, RH shares were up 20.43% in after-hours trading Thursday, closing at $309.89.

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Image: Courtesy of RH