RH Shares Drop 6% on Q4 Miss
<p><a href='https://financialmodelingprep.com/financial-summary/RH'>RH (NYSE:RH)</a> shares were trading nearly 6% lower pre-market today after the company reported Q4 results on Wednesday, falling short of Street estimates due to challenges in the housing market and banking sector. </p>
<p>The company reported Q4 EPS of $2.88, missing the Street estimate of $3.33, while revenue of $772 million was roughly in line with the $772.3 million Street estimate. As RH continues to reduce inventories following a pandemic-driven surge, the retailer warned of a challenging backdrop. </p>
<p>Management expects fiscal 2023 revenues to be in the range of $2.9-$3.1 billion and forecasts Q1/23 revenues in the range of $720-$735 million with an adjusted operating margin of 13%-14%. Street estimate for Q1 revenue stands at $833 million and at $3.46 billion for 2023 revenue.</p>

NYSE:RH