RH (RH - Get Report) , formerly known as Restoration Hardware Holdings Inc., soared 14.3% to $141.06 on Tuesday, Dec. 4, after the high-end home furnishings retailer reported third-quarter earnings that smashed expectations.
RH reported adjusted net income for its fiscal third quarter jumped 92% to $46.8 million, or $1.73 a share, from $24.4 million, or $1.04, in the comparable year-earlier period.
Analysts surveyed by Zacks Investment Research had expected earnings per share of $1.27.
Revenue rose 8% to $636.6 million. Comparable-brand revenue rose 4%, or 6.5% adjusted for inventory reduction efforts a year earlier, the company said in its earnings statement, though overall and comparable sales were negatively impacted by "slower special-order receipts from China due to tariff-related shipping congestion."
The company also raised its fourth-quarter earnings target to $2.75-$2.90 a share from $2.33-$2.54 a share, and lifted its revenue expectations to between $680 million and $690 million, up from $665 million to $685 million.