Quarterly ResultJun 11, 2026, 04:12 PM
RH Q1 Net Revenues Down 1.7% to $800.3M; FY26 Outlook Raised
AI Summary
RH reported its first quarter fiscal 2026 financial results, with net revenues decreasing 1.7% to $800.3 million and a GAAP net loss of $13.7 million. Despite challenges including higher backorder balances, the company raised its outlook for fiscal year 2026, projecting revenue growth of 4.5% to 8.0% and an adjusted EBITDA margin of 14.2% to 16.0%. RH also announced strategic initiatives including the launch of RH Estates to broaden its luxury design offerings and international expansion with new gallery openings in key European cities.
Key Highlights
- RH reported Q1 FY2026 net revenues of $800.3M, a 1.7% decrease YoY.
- GAAP Net Loss for Q1 FY2026 was $13.7M, compared to a net income of $8.0M in Q1 FY2025.
- Adjusted EBITDA for Q1 FY2026 was $56.9M with a margin of 7.1%.
- Free Cash Flow for Q1 FY2026 was $13.3M.
- RH raised its outlook for FY2026, expecting revenue growth of 4.5% to 8.0% and Adjusted EBITDA Margin of 14.2% to 16.0%.
- The company is launching RH Estates, aiming to integrate high-end designers and artisans into its platform.
- RH plans international expansion with openings in Paris, Milan, and London.
Price Impact
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