Earnings Summary RHs Q2 2024 Financial Results
Intellectia.AI2024-09-13
Earnings Summary: RH's Q2 2024 Financial Results
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Overview RH reported its financial results for the second quarter of fiscal year 2024.
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Key Financial Metrics
| Metric | Q2 2024 (Aug 3, 2024) | YoY Change | Consensus Estimates |
|---|---|---|---|
| Total Revenue | $830 million | +3.6% | $824.52 million |
| Earnings Per Share (EPS) | Data Not Provided | N/A | $1.56 |
Interpretation: RH's total revenue of $830 million exceeded consensus estimates of $824.52 million, marking a 3.6% increase year-over-year, indicating a resilient performance against market expectations. The earnings per share for the quarter was not specified.
- Revenue Performance by Segment
| Segment | Q2 2024 Revenue | YoY Change |
|---|---|---|
| RH Segment | $781 million | +3.6% |
| Waterworks | $49 million | +3.8% |
Interpretation: The RH Segment and Waterworks both saw a modest year-over-year revenue increase, with RH Segment revenues growing by 3.6% and Waterworks by 3.8%, reflecting a positive response to new product introductions and successful project completions.
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Key Developments & Operational Highlights - New collections, including RH Interiors and RH Modern Sourcebooks, played a significant role in boosting revenues. - Successful openings of new Galleries in locations like England and Indianapolis. - Increased advertising costs were noted, mainly due to new product mailings.
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Comments from Company Officers - Details on executive comments were not provided in the earnings content.
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Dividends and Share Repurchase Program - $201 million remains available under the current share repurchase program, though no shares were repurchased during the second quarter of fiscal 2024.
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Forward Guidance - The company did not provide explicit forward-looking financial guidance for the upcoming quarters.
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Stock Price Movement - RH's stock price increased by approximately 3.83% following the earnings release, indicating a positive market response to the earnings report.
This summary captures the essential metrics and developments from RH's latest financial report, highlighting increased revenue and strategic expansions despite specific challenges.
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