Restoration Hardware is skyrocketing after crushing earnings and issuing blockbuster guidance (RH)
- Restoration Hardware is soaring after a blowout earnings report and laying out exciting plans for 2019.
- The home-furnishings retailer gave guidance that easily beat Wall Street estimates.
- Watch RH trade in real time here.
Restoration Hardware is flying high Tuesday, up 36.65% on the back of an earnings blowout that not only impressed investors, but that also laid out big plans for the future.
The home-furnishings retailer announced earnings of $1.33 a share, handily beating the $1.02 that Wall Street was expecting. Revenue came in at $557 million, slightly below the $563 million that was anticipated.
“Our work this past year to consolidate our distribution center network from four facilities to two while streamlining operations throughout our supply chain, has resulted in a significantly more efficient cost and working capital model,” the company said on its release.
Perhaps the part of the report having the biggest sway on investors was the company’s outlook for fiscal year 2019. Restoration Hardware said it sees full-year earning-per-share guidance of between $6.34 and $6.83, well ahead of the $5.92 Bloomberg consensus.
RH shares are up 80% this year, including Tuesday’s gain.
Read the full article from it’s original source: http://uk.businessinsider.com/restoration-hardware-stock-price-crushing-earnings-issuing-blockbuster-guidance-2018-6