RH Shares Up 4% Following Better than Expected Q2 Results

RH (NYSE:RH) shares were trading more than 4% higher Friday morning following the company’s reported Q2 results, with EPS coming in at $8.08, beating the Street estimate of $6.63. Revenue was $992 million, better than the Street estimate of $968.91 million.

The company reduced its full-year outlook primarily due to delayed launches of RH England and Palo Alto. For Q3/22, the company expects net revenue growth in the range of (15%)-(18%).

Full-year net revenue growth is expected in the range of (3.5%)-(5.5%) with an adjusted operating margin in the range of 21.0%-21.5%.