RH Hits New High On Strong Q3 Results, Upbeat Outlook

(RTTNews) - Shares of luxury furnishing retailer RH, formerly Restoration Hardware, touched a new high of $225, and are currently trading at $$223.48, thanks to record third quarter results and upbeat fiscal 2019 guidance.

On an adjusted basis, the third quarter 2019 net income was $65.4 million or $2.79 per share on revenue of $676.7 million. This compared with an adjusted net income of $43.2 million or $1.60 per share and revenue of $638.5 million in the year-ago quarter.

For the fourth quarter, the Company now expects adjusted net revenue to be in the range of $703.0 - $711.5 million, up from its prior outlook of $703.0 to $711.0 million. The revised outlook represents 5% - 6% growth over Q4, 2018.

Looking ahead to full-year 2019, the Company has boosted its revenue outlook to $2,685 - $2,694 million, up from its prior guidance of $2,680 - $2,694 million. The new guidance represents 7% growth over 2018.

RH touched a new high of $225 in early trading on Thursday and is currently at $223.21, up 8.55%.