RH shares jump 14% on EPS beat
Shares of RH jumped more than 14% late Tuesday after the home-goods company, formerly known as Restoration Hardware, reported fourth-quarter earnings above Wall Street expectations and forecast better profits in the first quarter. RH said it earned $261,000, or 1 cent a share, compared with $9.4 million, or 23 cents a share, in the year-ago period. Adjusted for one-time items, RH earned $43.3 million, or $1.69 a share, in the quarter, compared with $28 million, or 68 cents a share, a year ago. Sales rose 14% to $670.3 million, from $587 million a year ago. Analysts polled by FactSet had expected adjusted earnings of $1.56 a share on sales of $672 million. “In 2018, we will continue our focus on execution, architecture and cash,” the company said in a statement. For the year, RH said it expects sales between $2.53 billion and $2.57 billion, and adjusted per-share earnings between $5.45 and $6.20. Shares of RH ended the Tuesday session down 4.1%.