NYSE:RH - New York Stock Exchange, Inc. - US74967X1037 - Common Stock
Morgan Stanley upgrades RH to Overweight with $530 price target, citing positive inflection and long-term fundamentals.
Shares of luxury furniture retailer RH (NYSE:RH) jumped 19.4% in the pre-market session after the company reported strong third-quarter results. It was great to see RH raise its full-year revenue and EBITDA guidance. Notably, demand for RH's products accelerated in the quarter, and continued to strengthen into the final quarter of the year, a positive growth indicator amid recent macroeconomic challenges. On the other hand, this quarter's gross margin and EBITDA fell short of Wall Street's estimates while revenue was in line, but the market seemed to weigh the outlook more.
RH earnings call for the period ending September 30, 2024.
RH stock rallied late Thursday after the home furnishing retailer guided expectations to double-digit revenue, demand growth for Q4.
Luxury furniture retailer RH (NYSE:RH) met Wall Street’s revenue expectations in Q3 CY2024, with sales up 8.1% year on year to $811.7 million. Its GAAP profit of $1.66 per share increased from -$0.12 in the same quarter last year.
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Luxury furniture retailer RH (NYSE:RH) will be announcing earnings results tomorrow after the bell. Here’s what you need to know.