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- RH RH reported second-quarter FY21 sales growth of 39% year-on-year, to $988.86 million, beating the analyst consensus of $975.45 million.
- The gross profit increased 46.7% Y/Y to $487 million, with the margin expanding 240 basis points to 49.3%.
- The adjusted operating margin improved 480 basis points to 26.6%, and adjusted operating income for the quarter rose 70% to $263 million.
- The company held $291.5 million in cash and equivalents as of July 31, 2021.
- Net cash provided by operating activities totaled $125.8 million with a free cash flow of $94.5 million.
- Adjusted EBITDA of $290 million increased 56.3% Y/Y.
- Adjusted EPS of $8.48 beat the analyst consensus of $6.48.
- The company said it sees price increases in most of its product categories due to supply chain challenges.
- Outlook: RH has raised FY21 revenue growth outlook to 31% - 33% (prior 25% - 30%).
- Price Action: RH shares closed higher by 1.26% at $672.65 on Wednesday.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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