BRK.A Berkshire Hathaway (Warren Buffett) : updated portfolio positions in 13F filing

Affirms OXY HPQ positions.

New C ALLY CE PARA CE MCK positions.

Exited WFC BMY ABBV

Highlights from 2022 Q1 filing as compared to Q4 2021:

• New positions in: OXY (~136.37 mln shares), HPQ (~104.48 mln), PARA (~68.95 mln), C (~55.16 mln), ALLY (~8.97 mln), CE (~7.88 mln), MCK (~2.92 mln), MKL (~0.42 mln)
• Increased positions in: CVX (to ~159.18 mln shares from ~38.25 mln shares), ATVI (to ~64.32 mln from ~14.66 mln), FWONK (to ~7.72 mln from ~2.12 mln), FND (to ~4.78 mln from ~0.84 mln), GM (to ~62.05 mln from ~60 mln) RH (to ~2.17 mln from ~1.82 mln)
• Maintained positions in: BAC (~1010.1 mln shares), AAPL (~890.92 mln shares), KO (~400 mln shares), KHC  (~325.63 mln shares), AXP (~151.61 mln shares), USB (~126.42 mln shares), DVA (~36.1 mln shares), MCO (~24.67 mln shares)
• Closed positions in: BMY (from ~5.2 mln), ABBV (from ~3.03 mln), WFC (from ~0.68 mln)
• Decreased positions in: VZ (to ~1.38 mln shares from ~158.82 mln shares), STOR (to ~14.75 mln from ~24.42 mln), RPRX (to ~1.5 mln from ~8.65 mln), KR (to ~57.99 mln from ~61.41 mln)

-=RH (RH) reported earnings on Wed 4 Dec 19 (a/h)

RH beats by $0.48, reports revs in-line; increases long-term targets

Reports Q3 (Oct) earnings of $2.73 per share, excluding non-recurring items, $0.48 better than the S&P Capital IQ Consensus of $2.25; revenues rose 6.3% year/year to $676.7 mln vs the $676.54 mln S&P Capital IQ Consensus.

• The Company's adjusted net income and adjusted diluted EPS benefited by $5.5M and $0.24, respectively, in the third quarter due to a lower tax rate of 13.7% versus the previous estimate based on a normalized tax rate of 21%.

We are projecting to generate free cash flow in the range of $350 to $360 million for 2019 and expect a ratio of net debt to trailing twelve month adjusted EBITDA of approximately 1.7 times at year end.

Regarding trade with China, we do not expect the current tariffs to impair our ability to achieve stated financial goals and the impact from the increased tariffs is embedded in our guidance for the year. We continue to receive pricing accommodations from vendors and have implemented price increases where necessary with little to no impact to our business.

We believe our Company remains undervalued and we will continue to evaluate share repurchases.

We expect our operating margin to expand at least 200 basis points in fiscal 2020 and now see a clear path to a 20% operating margin over the next several years. We expect to open five new Galleries and one Guesthouse in fiscal 2020. We also plan to open a minimum of 7 new Galleries in fiscal 2021.

We are increasing our long-term targets to:

• Net revenue growth of 8% to 12%
• Adjusted operating margins in the high teens to low twenties
• Adjusted net income growth of 15% to 20%
• Return on invested capital (ROIC) in excess of 50%

Earnings this week : Dec 2 - 6, 19 (wk 49)

Monday (Dec 2)

• Morning: DSX
• Afternoon: COUP

Tuesday (Dec 3)

• Morning: BMO DCI GSM LE  QTT
• Afternoon: AVAV HQY MRVL CRM WDAY ZS

Wednesday (Dec 4)

• Morning: BNED CPB GIII JW.A RY
• Afternoon: HOME DSGX ESTC FIVE GEF HRB POWL PGNY RH SMTC WORK SMAR SPWH SNPS TLYS VRNT 

Thursday (Dec 5)

• Morning: BF.B CM DG DLTH EXPR GMS JILL KIRK KLXE KR MEI MIK PDCO SCWX SIG SY TIF TD
• Afternoon: AOBC CLDR COO CRWD DOCU DOMO EZPW GWRE MDLA OKTA PD SAIC ULTA YEXT ZM ZUMZ ZUO

Friday (Dec 6) 

• Morning: BIG GCO  HHR

Notable earnings reports:

• Coupa Software (NASDAQ:COUP) and Diana Shipping (NYSE:DSX) on December 2; 
• Salesforce (NYSE:CRM), Workday (NASDAQ:WDAY), Marvell Technologies (NASDAQ:MRVL) and AutoZone (NYSE:AZO) on December 3; 
• Slack Technologies (NYSE:WORK), Campbell Soup (NYSE:CPB), At Home Group (NYSE:HOME) and Five Below (NASDAQ:FIVE) on December 4; 
• Kroger (NYSE:KR), Lululemon (NASDAQ:LULU), DocuSign (NASDAQ:DOCU), Dollar General (NYSE:DG) and Zoom Video (NASDAQ:ZM) on December 5; 
• Big Lots (NYSE:BIG) and Genesco (NYSE:GCO) on December 6.

This week's biggest % winners & losers : June 10 - 14, 19 (wk 24)

The following are this week's top percentage gainers and losers, categorized by sectors (over $300 mln market cap and 100K average daily volume).

This week's top % gainers

• Healthcare: ARQL (8.2 +25.96%), DXCM (148.04 +17.51%), DRNA (14.76 +14.24%)
• Materials: OSB (23.43 +15.53%), LOMA (11.38 +13.57%)
• Consumer Discretionary: RRGB (33.1 +26.43%), RH (111.37 +25.21%), BOOT (33.3 +15.15%), NEW (6.71 +15.09%), ELY (18.06 +14.96%), EYE (30.04 +14.7%), BBX (4.49 +13.38%)
• Information Technology: DATA (163.25 +30.38%)
• Financials: SUPV (7.44 +22.17%), GGAL (32.9 +20.03%), BMA (65.76 +17.2%)
• Consumer Staples: CASY (151.98 +13.5%)
• Utilities: PAM (31.82 +22.24%)

This week's top % losers

• Healthcare: CBAY (6.28 -45.44%), TXMD (2.44 -22.54%), EPZM (11.63 -18.21%), ENDP (4.05 -17.18%)
• Consumer Discretionary: LOVE (30.26 -20.7%), PLAY (39.58 -19.59%)
• Financials: PPDF (3.99 -13.82%)
• Energy: NE (1.58 -24.04%), ESV (6.62 -18.47%), ALTM (3.99 -17.56%), SDRL (3.12 -14.29%)
• Consumer Staples: DF (1.06 -13.82%)

=RH (RH) reported earnings on Wed 12 June 19 (a/h)

RH earnings soared 53% to $1.85 a share as revenue climbed 7.4% to $598 million. Wall Street expected RH earnings of $1.54 with sales at $583 million.

RH also raised full-year EPS guidance to $8.76-$9.27. Analysts expected RH earnings of $8.33 a share.

RH stock surged 26% in late trading. Shares closed up 1.5% to 94.62 but have been in a sharp downtrend since March 1. RH stock hit a record high of 164.49 on June 12, 2018.

The upscale home furnishings store formerly known as Restoration Hardware has benefited from a shift to a membership model and opening huge stores.

RH said it's expanding U.S. manufacturing facilities due to China tariffs.

This week's biggest % winners & losers : March 25 - 29, 19 (wk 13)

The following are this week's top percentage gainers and losers, categorized by sectors (over $300 mln market cap and 100K average daily volume).

This week's top 20 % gainers

• Healthcare: TCDA (38.62 +61.19%), CCXI (13.89 +27.31%), DNLI (23.22 +19.38%), AMRN (20.76 +18.56%), ADAP (4.30 +18.46%), GLPG (117.78 +18.41%), TGTX (8.04 +17.72%), GRTS (13.30 +16.16%), GTHX (16.6 +15.28%)
• Materials: EXP (84.30 +18.25%)
• Consumer Discretionary: BBBY (16.99 +24.01%), MOV (36.38 +14.91%), LULU (163.87 +14.43%), KMX (69.80  +13.26%)  
• Information Technology: AVYA (16.83 +27.4%), PRGS (44.37 +23.87%), QTNA (24.33 +21.59%), SYNA (39.75 +21.49%), SVMK (18.21 +21.24%), BB (10.09  +11.86%)

This week's top 20 % losers

• Healthcare: ARA (6.14 -35.37%), CDNA (31.52 -14.63%), TYME (1.76 -14.56%), CYH (3.73 -13.66%), IRTC (74.96 -11.75%), ABMD (285.59 -11.64%), SGRY (11.28 -10.9%)
• Materials: MUX (1.50 -10.71%), SA (12.39 -10.61%)
• Industrials: NLSN (23.67 -11.88%), MAXR (4.02 -11.26%)
• Consumer Discretionary: RH (102.95 -21.45%), HOME (17.86 -19.44%)
• Information Technology: SGH (19.2 -18.02%)
• Energy: PVAC (44.1 -14.39%), CVIA (5.59 -14%)

-=RH (RH) reported earnings on Thur 28 March 19 (a/h)

RH beats by $0.14, misses on revs; lowers FY20 below consensus; reaffirms long-term targets

• Reports Q4 (Jan) earnings of $3.00 per share, excluding non-recurring items, $0.14 better than the S&P Capital IQ Consensus of $2.86; revenues rose 0.1% year/year to $671 mln vs the $686.44 mln S&P Capital IQ Consensus. 
• "Our core RH business, which has historically tracked to stock market fluctuations, experienced a sales decline of approximately 10 points beginning the third week of December which persisted through the remainder of the fourth quarter leading to a $13 million shortfall to the mid-point of our revised revenue guidance in December."
• Co issues downside guidance for FY20, lowers EPS to $8.41-9.08, excluding non-recurring items, from $9.30-10.70 vs. $9.98 S&P Capital IQ Consensus; revs to $2.585-2.635 bln from $2.72-2.82 vs. $2.75 bln S&P Capital IQ Consensus due to the continued weakness in our core business post the fourth quarter market volatility, the negative trends in the high end housing market, and continued efforts to edit unprofitable and non-strategic businesses
• "We remain confident in our long-term targets as the earnings power and capital efficiency of our new model continues to evolve and we return to our product and brand expansion strategy. In addition, we have made improvements to our real estate development model, and continue to reduce capital requirements for future Galleries by improving deal economics and lowering construction costs. While all of our new Galleries scheduled to open in fiscal 2019 are under construction, we were able to lower capital requirements for three of the five new Galleries planned for next year, and the vast majority of future projects. As a reminder, our long-term targets are as follows: Net revenue growth of 8% to 12% annually Adjusted operating margins in the mid-to-high teens Adjusted earnings growth of 15% to 20% annually Return on invested capital (ROIC) in excess of 50%. We continue to see a clear path to $4 to $5 billion in North American revenues, and an international opportunity that could lead to RH becoming a $7 to $10 billion dollar global brand. We are currently exploring opportunities for Bespoke Design Galleries in London, Paris, and other parts of Europe, and believe there is tremendous opportunity for the RH brand to expand globally.

Earnings this week : March 25 - 29, 19 (wk 13)

Earnings confirmed for next week

Monday (March 25)

• Morning: CMCM WGO YRD
• Afternoon: RHT

Tuesday (March 26)

• Morning: CCL CONN CRON FDS INFO MKC NEOG
• Afternoon: KBH OLLI SCVL

Wednesday (March 27)

• Morning: HOME LEN OMN PAYX SCWX TITN UNF VRNT
• Afternoon: FIVE FUL LULU PVH SNX VRNT

Thursday (March 28)

• Morning:  ACN MOV QIWI RUBY SPWH
• Afternoon: OXM PRGS RH SAIC SGH 

Friday (March 29)

• Morning: BB  KMX

Notable earnings reports: MediWound (NASDAQ:MDWD), Red Hat (NYSE:RHT), Winnebago, (NYSE:WGO), Yirendai (NYSE:YRD) and FalconStor Software (OTC:FALC) on March 25;

Neogen (NASDAQ:NEOG), PhaseBio Pharmaceuticals (NASDAQ:PHAS), IHS Markit (NASDAQ:INFO), Carnival (NYSE:CCL), Conn's (NASDAQ:CONN), McCormick & Co. (NYSE:MKC), Ollie's Bargain Outlet Holdings (NASDAQ:OLLI), Shoe Carnival (NASDAQ:SCVL), KB Home (NYSE:KBH) and Orion Group Holdings (NYSE:ORN) on March 26;

Affimed (NASDAQ:AFMD), Osmotica Pharmaceuticals (NASDAQ:OSMT), electroCore (NASDAQ:ECOR), Fuller (NYSE:FUL), Bassett Furniture Holdings (NASDAQ:BSET), At Home Group (NYSE:HOME), UniFirst (NYSE:UNF), Five Below (NASDAQ:FIVE), Lululemon (NASDAQ:LULU), PVH, RumbleON (NASDAQ:RMBL), Lennar (NYSE:LEN), Paychex (NASDAQ:PAYX), Weidai (NYSE:WEI), SecureWorks (NASDAQ:SCWX), Synnex (NYSE:SNX), Verint (NASDAQ:VRNT), Arcos Dorados Holdings (NYSE:ARCO) and Evine Live (NASDAQ:EVLV) on March 27;

Forty Seven (NASDAQ:FTSV), Rubius Therapeutics (NASDAQ:RUBY), Tricida (NASDAQ:TCDA), Unum Therapeutics (NASDAQ:UMRX), Vascular Biogenics (NASDAQ:VBLT), Accenture (NYSE:ACN), Progress Software (NASDAQ:PRGS), SAIC, Smart Global Holdings (NASDAQ:SGH), China Automotive Systems (NASDAQ:CAAS), Dollarama (OTC:DLMAF), MAV Beauty Brands (OTCPK:MAVBF), Movado Group (NYSE:MOV), Sportsman's Warehouse (NASDAQ:SPWH), Oxford Industries (NYSE:OXM), Reed's (NYSEMKT:REED), RH, Qiwi (NASDAQ:QIWI), Syncora Holdings (OTCPK:SYCRF) and Gafisa (OTC:GFASY) on March 28.

BlackBerry (NYSE:BB) and CarMax (NYSE:KMX) on March 29.

=RH (RH) reported earnings on Mon 3 Dec 18 (a/h)

 RH beats by $0.46, reports revs in-line; raises Q4 EPS above consensus, revs above consensus; guides FY20 EPS above consensus, revs in-line

• Reports Q3 (Oct) earnings of $1.73 per share, $0.46 better than the S&P Capital IQ Consensus of $1.27; revenues rose 7.4% year/year to $636.6 mln vs the $632.25 mln S&P Capital IQ Consensus.
• Reports Q3 Adj. Operating Margin of 10.3% vs. 8.1% last year.
• Q3 comparable brand revenue up 4%.
• Co issues raises guidance for Q4, sees EPS of $2.75-$2.90 vs. prior outlook of $2.33-$2.54 and vs the $2.50 S&P Capital IQ Consensus; sees Q4 revs of $680-$690 mln vs. prior outlook of $665-$685 mln and vs. the $679.66 mln S&P Capital IQ Consensus.
• Co issues guidance for FY20, sees EPS of $9.30-$10.70 vs. $8.33 S&P Capital IQ Consensus; sees FY20 revs of $2.72-$2.82 bln vs. $2.73 bln S&P Capital IQ Consensus.

Earnings this week : Dec 3 - 7, 18 (wk 49)

Earnings confirmed to report this week

Monday (Dec 3)    

• Morning: FNSR
• Afternoon:  COUP MESA RH SMAR

Tuesday (Dec 4)

• Morning:  AZO AVYA BMO BNED CONN DG DCI GMS HDS MOV SECO TOL
• Afternoon: ESTC GWRE HOME HPE HQY MDB MRVL OLLI  OL ZS

Wednesday (Dec 5)
Markets will be closed for the mourning of the 41st US President George H.W. Bush

• Morning: AEO BF.B GIII JW.A LE MOMO SCWX 
• Afternoon: CLDR FIVE GEF HRB KFY  OKTA SNPS  

Thursday (Dec 6)

• Morning:  DLTH GCO GIII HOME HOV HRB KFY KR LE MEI MIK MOMO PDCO PLCE SCWX SIG THO TTC VRNT
• Afternoon:  AOBC AVGO CMTL COO DOCU DOMO LULU SAIC ULTA UNFI ZUMZ

Friday (Dec 7)

• Morning: BIG MTN

=RH (RH) reported earnings on Mon 11 June 18 (a/h)

RH (RH), the upscale furniture chain formerly known as Restoration Hardware, is soaring after beating Q1 earnings views and lifting 2018 guidance late Monday, continuing a string of wild post-earnings stock swings.

RH Earnings

Estimates: Analysts polled by Zacks Investment Research expect RH earnings to soar to $1.01 a share from 5 cents a share. Revenue should tick up 0.4% to $564 million. Same-store sales are expected to dip 0.9%, according to Consensus Metrix.

Results: Adjusted diluted EPS rose nearly 27-fold from the prior-year quarter to $1.33, on revenue of $557 million. Comparable brand revenue grew 1%.

The major profit figure reflects "the power of our new membership model, our unique and proprietary product offering, our efforts to revolutionize physical retailing, and our work designing a massively more efficient operating platform," said RH CEO Gary Friedman in a press release late Monday.

Outlook: RH management raised full-year guidance to adjusted EPS of $6.34-$6.83 vs. prior outlook for $5.45 to $6.20. It reaffirmed revenue of $2.53 billion-$2.57 billion. Analysts expect $5.85 EPS and $2.555 billion.

For the current quarter, RH sees $1.70-$1.77 EPS and $655 million-$662 million in revenue. Consensus is for $1.48 EPS and $658 million in sales.

The company said it expects revenue to accelerate through the current quarter and the back half of the fiscal year. Four new galleries are planned for 2018 in Portland, Nashville, Yountville and New York; the latter three locations will feature wine bars, cafes and, in Yountville's case, an outpost of the Doughnut Vault. Hospitality is a growing business within RH.

Friedman maintained his view that RH can be a $4 billion-$5 billion business in North America.

This week's biggest % winners & losers : March 26 - 29, 18 (wk 13)

+ 3/30  Good Friday (markets closed) +

The following are this week's top 20 percentage gainers and top 20 percentage losers, categorized by sectors (over $300 mln market cap and 100K average daily volume).

This week's top 20 % gainers

• Healthcare: SHPG (149.79 +18.51%), NSTG (7.53 +14.44%), ALDR (12.73 +12.11%), DXCM (74.29 +11.31%)
• Industrials: USG (40.42 +20.73%), TITN (23.54 +19.37%)
• Consumer Discretionary: FINL (13.55 +36.87%), RH (95.28 +22.2%), HOME (32.04 +21.09%), FRED (3.02 +20.32%), MOV (38.4 +19.07%), SHLD (2.66 +15.43%), GIII (37.77 +14.42%)
• Information Technology: TVPT (16.34 +14.19%)
• Energy: RSPP (46.88 +21.61%)
• Consumer Staples: ENR (59.58 +14.36%), SPB (103.7 +11.84%), HRG (16.49 +11.8%)

This week's top 20 % losers

• Healthcare: NVTA (4.69 -35.58%), OMER (11.18 -29.02%), GERN (4.25 -19.2%), AKBA (9.54 -18.32%), ALNY (119.48 -16.15%), BLCM (6.62 -15.45%), PTCT (27.26 -14.83%)
• Materials: GSM (10.78 -25.76%)
• Industrials: RRTS (2.54 -25.29%)
• Consumer Discretionary: SUP (13.3 -14.19%)
• Information Technology: ACXM (22.68 -26.79%), NQ (1.66 -20.95%), SHOP (124.59 -14.34%)
• Energy: CIE (0.04 -37.59%), SDRL (0.2 -21.37%), EPE (1.34 -19.76%)
• Telecommunication Services: IDT (6.27 -28.56%)

-=Restoration Hardware (RH) reported earnings on Tue 27 March 18 (a/h)

Restoration Hardware beats by $0.15, reports revs in-line; guides Q1 EPS above consensus, revs below consensus; guides FY19 EPS above consensus, revs below consensus 

• Reports Q4 (Jan) earnings of $1.69 per share, excluding non-recurring items, $0.15 better thanthe Capital IQ Consensus of $1.54; revenues rose 14.2% year/year to $670 mln vs the $672.39 mln Capital IQ Consensus.
• Co issues mixed guidance for Q1, sees EPS of $0.95-1.05, excluding non-recurring items, vs. $0.57 Capital IQ Consensus Estimate; sees Q1 revs of $555-565 mln vs. $589.77 mln Capital IQ Consensus Estimate.
• Co issues mixed guidance for FY19, sees EPS of $5.45-6.20, excluding non-recurring items, vs. $5.50 Capital IQ Consensus Estimate; sees FY19 revs of $2.53-2.57 bln vs. $2.59 bln Capital IQ Consensus Estimate, representing growth of 5% to 7% on a comparable 52-week vs. 52-week basis. The Company's net revenue outlook is ~$50 million lower than its prior expectations due to its decision to delay the opening of its New York Design Gallery (now scheduled for Fall 2018) and the Company's first Guesthouse (now scheduled for Spring 2019) as a result of the ongoing disruption from the city's street and infrastructure construction in the Meatpacking District. Additionally, the Company does not plan to launch any new businesses in 2018 outside of RH Hospitality while it remains focused on designing an operating platform that aligns with and amplifies its luxury positioning. Adjusted gross margin in the range of 37.7% to 38.5% and adjusted SG&A as a percentage of revenue in the range of 28.3% to 28.5%.
• "We remain confident in our long term goal of $4 to $5 billion in North American revenues with industry leading operating margins and returns on invested capital. We also believe there is tremendous potential for the RH brand internationally, and we continue to explore opportunities to open our first Gallery in London."
• The Company plans to pivot towards revenue growth in fiscal 2019, by accelerating its disruptive real estate transformation and returning to its product and business expansion strategy, which has been on hold while architecting its new operating platform. Net revenue growth is expected to reaccelerate to a range of 8% to 12%. 
• As the Company continues to gain benefits from its move to membership, a simplified and more efficient operating platform and cycles the current investment drag from its hospitality initiatives, operating margins are now expected to reach the low to mid-teens by 2021.

=Restoration Hardware (RH) reported earnings on Wed 6 Sept 17 (a/h)

Restoration Hardware beats by $0.18, beats on revs; guides Q3 EPS above consensus, revs in-line; raises FY18 guidance

• Reports Q2 (Jul) earnings of $0.65 per share, excluding non-recurring items, $0.18 better than the Capital IQ Consensus of $0.47; revenues rose 13.2% year/year to $615.3 mln vs the $606.38 mln Capital IQ Consensus.
• Co issues guidance for Q3, sees EPS of $0.68-0.80, excluding non-recurring items, vs. $0.38 Capital IQ Consensus Estimate; sees Q3 revs of $575-590 mln vs. $598.78 mln Capital IQ Consensus Estimate.
• Co issues raised guidancefor FY18, sees EPS of $2.43-2.67 from $1.67-1.94, excluding non-recurring items, vs. $2.09 Capital IQ Consensus Estimate; sees FY18 revs of $2.42-2.46 bln from $2.40-2.45 bln vs. $2.44 bln Capital IQ Consensus Estimate.
• Comparable brand revenues increased 7% compared to a 3% decrease last year. "Our profit margins in the second quarter continued to be affected by efforts to
  rationalize our product offer and reduce inventories. Outlet revenues were up 46% in the quarter on significantly reduced margins versus last year."
• As previously discussed, we believe there is an opportunity to improve our financial results and return on invested capital by having a more disciplined approach to capital allocation. Accordingly, we plan to reduce our new Gallery opening cadence to a range of 3 to 5 per year, which is expected to drive high-quality sustainable growth, while lowering capital requirements and execution risk over the course of our real estate transformation. In fiscal 2017, we expect to open 3 next generation Design Galleries, all with an integrated food and beverage experience, and 3 to 5 Design Galleries in 2018.

This week's biggest % winners & losers : May 30 - June 2, 17 (wk 22)

The following are this week's top 20 percentage gainers and top 20 percentage losers, categorized by sectors (over $300 mln market cap and 100K average daily volume).

This week's top 20 % gainers

• Healthcare: NERV (9.95 +19.88%), ACHN (5.03 +19.48%), TXMD (4.61 +15.83%), EXAS (38.31 +14.98%), SGYP (4 +14.94%), RVNC (24.9 +13.44%), NH (3.48 +13.36%), JUNO (26.21 +12.49%), SUPN (40.05 +12.03%)
• Consumer Discretionary: CONN (18.6 +17.72%), LULU (54.29 +12.56%), RCII (12.5 +11.51%)
• Information Technology: PANW (138.11 +16.96%), HIMX (7.8 +16.77%), CIEN (27.5 +15.55%), FIVN (24.32 +11.66%)
• Energy: ATW (10.13 +25.37%), ANW (6.05 +18.63%)

This week's top 20 % losers

• Healthcare: MACK (1.52 -53.94%), NLNK (12.59 -12.2%)
• Materials: AKG (1.56 -23.15%), UAN (3.78 -14.29%), SBGL (4.85 -12.14%), NAK (1.53 -11.56%)
• Industrials: GOGL (5.66 -11.15%)
• Consumer Discretionary: RH (42.54 -26.41%), BOOT (5.98 -25.16%), EXPR (6.25 -20.38%)
• Energy: DNR (1.43 -18.29%), GLNG (22.51 -15.38%), OSG (2.65 -14.79%), SWN (5.74 -13.16%), CRC (10.3 -13.08%), ECR (2.11 -12.81%), GPOR (13.39 -11.91%), BBG (3.35 -11.61%), SDRL (0.46 -11.43%), BTE (2.8 -10.54%)

=Restoration Hardware (RH) reported earnings on Thur 1 June 17 (a/h)

Restoration Hardware reports EPS in-line, revs in-line (co previously pre-announced quarter); co lowers FY18 EPS guidance, below consensus, revs in-line:

• Reports Q1 (Apr) earnings of $0.05 per share (co pre-announced EPS of $0.03-0.05), excluding non-recurring items, in-line with the Capital IQ Consensus of $0.05; revenues rose 23.4% year/year to $562.1 mln (co pre-announced revs at $558-562 mln) vs the $560.3 mln Capital IQ Consensus.
• Co lowers EPS guidance for FY18, sees EPS of $1.67-1.94, excluding non-recurring items, vs. $2.17 Capital IQ Consensus Estimate, down from $1.78-2.19; raises FY18 revs to $2.40-2.45 bln vs. $2.41 bln Capital IQ Consensus Estimate, from $2.3-2.4 bln.
  • Co said, "For fiscal 2017, we are increasing our revenue guidance to a range of $2.4 billion to $2.45 billion, reflecting a more aggressive approach to rationalizing our product offer, reducing inventories, and increasing free cash flow. While this approach will benefit revenues and cash flow for the year, it will have a negative impact on earnings. As a result, we are lowering our adjusted net income guidance from a range of $65 million to $80 million, to a range of $60 million to $70 million."

=Restoration Hardware (RH) reported earnings on Tue 28 March 2017 (a/h)

Restoration Hardware on Tuesday announced a forecast for first-quarter sales that beat analysts' expectations, sending its shares higher in extended trading.

The high-end furniture retailer said it saw first-quarter net revenues in a range of $530 million to $545 million, beating the forecast for $485.1 million according to Bloomberg.

For the fourth quarter, Restoration Hardware reported adjusted earnings per share of $0.68 and net revenues of $586.7 million, both in line with its earlier guidance.

"We made several strategic investments and changes to our business last year, which temporarily depressed financial results in the short term, that we believe will strengthen our brand and position the business for accelerated growth in fiscal 2017 and beyond," said Gary Friedman, the company's CEO, in the earnings statement.

After lowering its outlook on full-year EPS last quarter, the company attributed weakness to slow sales around the election and late delivery of its Fall 2016 catalogs.

Restoration Hardware shares gained 10% in after-hours trading. They rose 2% in the 12 months through Tuesday's market close.

=Restoration Hardware (RH) reported earnings Thur 8 Dec 2016 (a/h)

Restoration Hardware beats by $0.04, beats on revs; guides Q4 EPS below consensus, revs below consensus:

• Reports Q3 (Oct) earnings of $0.20 per share, excluding non-recurring items, $0.04 better than the Capital IQ Consensus of $0.16; revenues rose 3.2% year/year to $549.3 mln vs the $527.38 mln Capital IQ Consensus. In addition, our margins continued to be negatively impacted by many of the temporal factors impacting our fiscal 2016 earnings in addition to one-time costs associated with the remodel and refresh of our legacy Galleries during the quarter."
• Co issues downside guidance for Q4, sees EPS of $0.60-0.70, excluding non-recurring items, vs. $1.07 Capital IQ Consensus Estimate; sees Q4 revs of $562-592 mln vs. $639.18 mln Capital IQ Consensus Estimate.
• "Guidance Commentary: "First, our business in November was below our expectations, which we largely attribute to consumer softness related to the US election and our Fall 2016 Source Books getting in homes later than planned. While our Fall 2016 Source Books began mailing in mid-September, the vast majority of the circulation is just getting in homes over the last few weeks versus our original expectations for the Books to be building earlier in the mailing cycle. This is resulting in a shift of sales that would have been booked in the fourth quarter into the first quarter of next year. In addition, sales of our Holiday Collection are trending lower than our expectations."

=Restoration Hardware(RH) reported earnings Wed 8 June 2016 (b/o)

Restoration Hardware misses by $0.10, reports revs in-line; guides Q2 EPS well below consensus, revs below consensus; lowers FY17 guidance below consensus :

• Reports Q1 (Apr) loss of $0.05 per share, excluding non-recurring items, $0.10 worse than the Capital IQ Consensus of $0.05; revenues rose 7.8% year/year to $455.5 mln vs the $452.27 mln Capital IQ Consensus.
• Comparable brand revenue growth, which includes direct, was 4% in Q1 (ests +5.4%) on top of 15% for the same period last year.
  • Stores revenues increased 19% to $256.1 million in the first quarter of fiscal 2016. This growth is on top of a 13% increase in stores revenues in the first quarter of fiscal 2015.
  • Direct revenues decreased 4% to $199.4 million in the first quarter of fiscal 2016. Direct revenues during the first quarter of fiscal 2016 represented 44% of total net revenues.
• Co issues downside guidance for Q2, sees EPS of $0.28-0.33, excluding non-recurring items, vs. $0.80 Capital IQ Consensus Estimate; sees Q2 revs of $505-520 mln vs. $531.78 mln Capital IQ Consensus Estimate.
• Co issues downside guidance for FY17:
  • Lowers EPS to $1.60-1.80 from 'flat to down slightly from $2.72', excluding non-recurring items, vs. $2.66 Capital IQ Consensus
  • Lowers FY17 revs to +1-3% (from low to mid single digit growth) to ~$2.13-2.17 bln vs. $2.21 bln Capital IQ Consensus Estimate. 
• "Our near term business performance is being pressured by the continued headwinds in the markets impacted by energy and currency, as well as a general slowdown in the luxury consumer market. In addition, the costs associated with RH Modern production delays and investments to elevate the customer experience, the timing of recognizing membership revenues related to the transition from a promotional to a membership model, and a more aggressive approach to rationalizing our SKU count to optimize inventory, are expected to negatively impact our fiscal 2016 adjusted diluted EPS outlook by approximately $0.90 to $1.00. While there is uncertainty regarding the headwinds impacting revenues, we expect many of the cost and margin related issues to be short term in nature.
• "Despite our recent difficulties, we remain the leading luxury home brand in the world, with a clear path to $4 billion to $5 billion in North American revenues with mid-teens operating margins. The two fundamental strategies that get us there - the expansion of our product offer and the transformation of our real estate - remain well on track.

=Restoration Hardware (RH) reported earnings on Thur 10 Dec 2015 (a/h)

** charts before earnings **



** charts after earnings **

Restoration Hardware beats by $0.02, misses on revs; guides Q4 EPS in-line, revs above consensus; Reaffirms long-term guidance :

• Reports Q3 (Oct) earnings of $0.65 per share, $0.02 better than the Capital IQ Consensus of $0.63; revenues rose 9.8% year/year to $532.4 mln vs the $540.05 mln Capital IQ Consensus.
• Comp stores increased 7% y/y.
• Co issues guidance for Q4, sees EPS of $1.37-1.42, excluding non-recurring items, vs. $1.40 Capital IQ Consensus Estimate; sees Q4 revs of $708-718 mln vs. $703.99 mln Capital IQ Consensus Estimate.
• "When we step back and consider the positive response to our two new businesses -- RH Modern and RH Teen, the outperformance in all of our next generation Design Galleries, and the exciting new real estate and businesses we have in the pipeline for 2016 and beyond, we could not be more confident in our long term goal of reaching $4 billion to $5 billion in North American revenues, mid-teens operating margins, significant free cash flow and industry-leading return on invested capital."