Restoration Hardware Holdings, Inc (NYSE: RH) is having an overwhelmingly strong day in the market today after reporting their earnings late yesterday. The company blew away expectations, causing excitement among investors and leading to gains in the value of the stock. Of course, our partners at Trade Ideas were the first to alert us to the gains. At the moment (10:01), RH is trading at $71.34 per share after a gain of $21.99 per share (44.56%) thus far today.
RH Gains On Strong Earnings
As mentioned above, Restoration Hardware is having an overwhelmingly strong start to the trading session today after reporting earnings for the second-quarter of fiscal 2017. Here’s what we saw from the report:
- Earnings Per Share – In terms of earnings per share, RH did overwhelmingly well. The company reported earnings in the amount of $0.65 per share. Not only did that beat Zacks estimates by 38.3%, but it also showed incredible year-over-year growth in the amount of 47.7%.
- Revenue – Revenue also proved to be a big hit. During the quarter, analysts expected that the company would generate revenue in the amount of $612.7 million. However, the company actually reported revenue in the amount of $615.3 million, beating estimates and showing a 13.2% year-over-year increase.
- Guidance – Finally, RH is expecting to have an incredible third quarter as well. During the quarter, the company is expecting to generate revenue in the range between $575 million and $590 million. For the full year, revenues are expected to come in between $2.4 billion and $2.5 billion. The company also expects net income to come in between $70 million and $77 million, a nice increase from previous expectations of between $60 million and $70 million. Finally, it is expected that earnings per share for the full year will come in in the range between $2.43 and $2.67.
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What We’ll Be Watching For Ahead
Moving forward, the CNA Finance team will continue to keep a close eye on RH. In particular, we’re interested in seeing if the company can reach the high bar it has set for itself for the rest of the year. We’re also interested in watching the three next generation design galleries that the company is expecting to open throughout the rest of the year. We’ll continue to follow the story closely and bring the news to you as it breaks!
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