Restoration Hardware (NYSE:RH) unveiled its quarterly earnings results late today, bringing in a profit that surpassed what analysts called for, while revenue was also ahead of the mark, playing a role in lifting RH stock more than 20% after hours on Wednesday.
The Corte Madera, Calif.-based home furnishings stores business announced that for its first quarter of its fiscal 2019, it brought in a profit of $35.7 million, which tallied up to $1.43 per share. This marked an increase of more than $10 million when compared to the $25.5 million, or $1.01 per share, from the year-ago quarter.
Restoration Hardware’s earnings in an adjusted basis when taking into account asset impairment and recall accrual, among other items, led to earnings of $1.85 per share. Revenue was strong at $598.4 million, topping the $557.4 million from the year-ago quarter.
Analysts were calling for the business to bring in adjusted earnings of $1.53 per share, as well as revenue of $584 million, according to data compiled by FactSet. Restoration Hardware revealed that for its fiscal year, it now sees its earnings in the range of $8.76 to $9.27 per share on an adjusted basis, while revenue will be between $2.64 billion and $2.66 billion.
Wall Street predicts that the business will amass second-quarter earnings of $2.17 per share on sales of $660 million.
RH stock is up roughly 22.3% after the bell Wednesday afternoon following the company’s quarterly earnings results, which impressed. Shares had been up about 1.9% during regular trading hours today.