Rh (RH) Earnings
Rh is expected to report next earnings on June 11, 2026 (in NaN days), with a consensus EPS estimate of $-2.09. RH has beaten EPS estimates in 6 of its last 12 reported quarters (average surprise +46.2% over the last four).
| Report date | EPS est | EPS actual | Surprise | Revenue | Rev. surprise |
|---|---|---|---|---|---|
| Mar 31, 2026 | $2.21 | $1.53 | -30.8% | $843M | -3.5% |
| Dec 11, 2025 | $2.12 | $1.71 | -19.3% | $884M | +0.0% |
| Sep 11, 2025 | $3.19 | $2.93 | -8.2% | $899M | -0.1% |
| Jun 12, 2025 | $-0.09 | $0.13 | +243.1% | $814M | -0.6% |
| Dec 12, 2024 | $2.66 | $2.48 | -6.8% | $812M | -0.1% |
| Sep 12, 2024 | $1.56 | $1.69 | +8.3% | $830M | +0.6% |
| Jun 13, 2024 | $-0.13 | $-0.40 | -211.5% | $727M | +0.2% |
| Dec 7, 2023 | $0.91 | $-0.42 | -146.2% | $751M | -3.6% |
| Sep 7, 2023 | $2.56 | $3.93 | +53.5% | $800M | +2.0% |
| May 25, 2023 | $2.09 | $2.21 | +5.7% | $739M | -4.2% |
| Dec 8, 2022 | $4.72 | $5.67 | +20.1% | $869M | +3.5% |
| Sep 8, 2022 | $6.81 | $8.08 | +18.6% | $992M | +2.3% |
Source: company filings + earnings calendar. For informational purposes only — not investment advice.
Earnings call summary
Q4 FY2026 · April 1, 2026
AI summary of management’s prepared remarks and analyst Q&A. For informational purposes only — not investment advice.
Management highlights
Strategy: To scale taste, RH is the arbiter of home taste, with 7 product categories and 3 styles. Multi-dimensional physical-first global ecosystem: Stores are important, creating unique experience spaces, including interior design, trade business, hospitality. Business model and balance sheet: Revenue growth expected 4%-8% in 2026, accelerating to 10%-12% in 2027, reaching $5.4 billion - $5.8 billion by 2030. Adjusted EBITDA 14%-16% in 2026, 25%-28% by 2030. Market expanded by high-net-worth consumer spending and wealth transfer.
Guidance
2026 revenue growth expected 4%-8%, 2027 accelerating to 10%-12%, reaching $5.4 billion - $5.8 billion by 2030. Adjusted EBITDA 14%-16% in 2026, 25%-28% by 2030. Asset sales expected $200 million - $250 million per year in 2026-2027. Cumulative cash flow $3 billion by 2030, debt-free by 2029.
Segment performance
In 2025, RH achieved an 8% revenue growth and a 15% two-year growth, far outpacing peers in the furniture industry. Adjusted EBITDA reached $597 million, accounting for 17.3% of revenues, compared to $539 million and 16.9% in 2024. Free cash flow was $252 million, up from a negative $214 million in 2024, a year-over-year increase of $466 million. Product segments include 7 major categories and 3 styles. The newly launched RH Estates targets the traditional market and will be the largest and highest-margin brand extension.
Risks & headwinds
Risks: Tariff impact, margin pressure from investment rhythm, geopolitical and economic uncertainty, real estate construction cost increase, housing market uncertainty, complexity of order resource allocation.
Analyst Q&A
Q: Simeon Gutman asked about consumer demand signals and management changes.
A: Gary Friedman responded.
Q: Steven Forbes asked about international market.
A: Gary Friedman and others responded.
Q: Maksim Rakhlenko asked about RH Estates.
A: Gary Friedman responded.
Q: Steven Zaccone asked about revenue growth cadence and margin recovery.
A: Gary Friedman and Jack Preston responded.
Q: Michael Lasser asked about market doubt and free cash flow sensitivity.
A: Gary Friedman responded.
Q: Bradley Thomas asked about RH Estates and 2030 margin targets.
A: Gary Friedman responded.
Q: Marius Morar asked about 2026 growth outlook and order drag.
A: Gary Friedman and Jack Preston responded.