RH (NYSE:RH) 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.
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.
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.