Restoration Hardware earnings (NYSE:RH) came in well ahead of what analysts were calling for for the company’s latest period, sending RH stock skyrocketing late in the day Monday.
The Ortera Madera, Calif.-based furniture retailer said that for its third quarter of its fiscal 2018, it brought in net income of $22.4 million, or 81 cents per share. On an adjusted basis when considering non-recurring costs, the company brought in earnings of $1.73 per share.
Restoration Hardware’s earnings were stronger than the $1.27 per share that 14 analysts surveyed by Zacks Investment Research were calling for in their consensus estimate. The company also brought in revenue of $636.6 million, or $638.5 million on an adjusted basis.
The survey of 11 analysts who were polled by Zacks were calling for the company to rake in sales of $632.6 million for its third quarter. For its fourth quarter of the fiscal year, Restoration Hardware projects adjusted earnings in the range of $2.75 to $2.90 per share, ahead of the Wall Street guidance of $2.51 per share, according to Zacks.
The retailer also guides revenue of $680 million to $690 million for its fourth quarter, in line with the $681 million that Zacks forecast. For its fiscal year, Restoration Hardware sees its earnings as being in the range of $8.33 to $8.47 per share, while revenue is slated to be between $2.52 billion and $2.53 billion.
RH stock is soaring nearly 19.7% after the bell on Monday as the company unveiled its latest quarterly earnings results late in the day. Shares had been gaining nearly 6.5% during regular trading hours in anticipation of the company’s third-quarter report.