Business & Investment

RH stocks rise after being hit by earnings, outlook rises

RH shares rebounded in an extended session on Wednesday after retailers, formerly known as repair hardware, surpassed Wall Street expectations for the quarter and raised expectations to match analysts’ estimated consensus. ..

RH
RH,
+ 0.11%

After a regular session, which rose 0.1% to close at $ 576.96, the stock surged 12% after business hours. Shares have increased 22% over the last 12 months, compared to a 27% increase from the S & P 500 Index.
SPX,
+ 0.31%
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The company’s third-quarter net income was $ 184.1 million and $ 5.88 per share, compared to $ 46.4 million and $ 1.64 per share in the year-ago quarter. Adjusted earnings were $ 7.03 per share, compared to $ 6.20 per share in the year-ago quarter.

Revenue increased from $ 844 million in the year-ago quarter to $ 1.01 billion.

Analysts surveyed by FactSet predicted revenue of $ 6.61 per share, compared to $ 981.9 million in revenue.

“Uncertainty due to new virus variants, postponement of the opening of the new San Francisco Gallery until spring, continued shipping and port delays, our business model gives us the confidence to raise our 2021 outlook three times this year. They will, “the company said in a statement.

RH expects revenue growth in 2021 to be 32% to 33%, or $ 3.76 billion to $ 3.79 billion. Previously, RH predicted a profit of 31% to% 33. Analysts expect to generate $ 3.76 billion in revenue.

RH stocks rise after being hit by earnings, outlook rises

http://www.marketwatch.com/news/story.asp?guid=%7B20C05575-04D4-B545-77D7-AA9AE50449FB%7D&siteid=rss&rss=1 RH stocks rise after being hit by earnings, outlook rises

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