Q4 2025 RH Earnings Call Transcript

Mar 31, 2026 / 09:00 PM GMT

Release Date Price: MXN2510 (+6.58%)

Transcript 10-K8-K

Key Points

Positve

RH (RH) achieved revenue growth of 8% in 2025, significantly outpacing its industry peers.
The company reported a substantial increase in free cash flow, from negative $214 million in 2024 to $252 million in 2025.
RH (RH) is launching RH Estates, a new brand extension targeting the underpenetrated traditional luxury home market.
The company is expanding its global presence with new immersive gallery concepts in major cities like Paris, Milan, and London.
RH (RH) plans to become debt-free by 2029, with a projected cumulative cash flow of $3 billion by 2030.

Negative

The company is experiencing margin pressure due to peak investment periods and tariffs.
RH (RH) is facing challenges from the global discord and a difficult housing market.
There are significant costs associated with the launch of RH Estates, impacting short-term profitability.
The company is in a peak investment cycle, which is affecting its current financial performance.
RH (RH) is navigating through uncertain economic times, with potential risks from geopolitical tensions and interest rate fluctuations.

Refinitiv StreetEvents Event Transcript
E D I T E D V E R S I O N

RH.N - RH
Q4 2025 RH Earnings Call
Mar 31, 2026 / 09:00PM GMT

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Conference Call Participants
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* Simeon Gutman
Morgan Stanley & Co Ltd - Analyst
* Steven Forbes
Guggenheim Securities LLC - Analyst
* Max Rakhlenko
Cowen and Company LLC - Analyst
* Steven Zaccone
Citi Infrastructure Investments LLC - Analyst
* Michael Lasser
UBS AG - Analyst
* Bradley Thomas
KeyBanc Capital Markets Inc - Analyst
* Marius Morar
Zelman & Associates - Analyst

=====================
Presentation
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Unidentified Company Representative 1 [1]
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