RH delivered $922.2M in second-quarter GAAP Revenue and set fiscal 2026 revenue growth guidance at 5.5% to 7.0%. The updated outlook also gives investors an adjusted EBITDA Margin range of 15.0% to 16.2% and a combined free cash flow, asset sales and Equity Investment distribution target of $300M to $400M.

Key Highlights

  • GAAP revenue increased 2.6%, while EBITDA margin reached 18.3% during the second quarter.
  • Cash generation totaled $72.3M, including a $42.0M distribution from Aspen Joint Ventures.
  • RH recognized a $55.1M Tariff benefit, equivalent to 600 bps, against an applied-for total refund of $69M.

RH generated GAAP net revenues of $922.2M in the second quarter ended August 1, 2026, while GAAP Net Income reached $60.2M. The company also reported EBITDA of $168.3M and adjusted EBITDA of $178.5M. RH set fiscal 2026 revenue growth at 5.5% to 7.0% and adjusted EBITDA margin at 15.0% to 16.2%.

Second-Quarter Operating Results

GAAP revenue increased 2.6% during the quarter. EBITDA margin was 18.3%, while adjusted EBITDA margin reached 19.4%. Normalized adjusted EBITDA totaled $123.5M, with a normalized adjusted EBITDA margin of 13.4%. RH released the second-quarter results on September 10, 2026. Second-quarter gross margins benefited from a recognized tariff benefit of $55.1M, or 600 bps.

Fiscal 2026 Targets

RH also expects free cash flow, asset sales and distributions of equity method investments to total $300M to $400M. The outlook provides investors with ranges for the company’s expected revenue expansion, adjusted profitability and specified cash sources during fiscal 2026.