RH Q2 revenue $922M beats guidance; FY adj EBITDA margin 15-16.2%; RH Estates launch

Q2 revenue $922.2M, +2.6% YoY, above guidance; GAAP net income $60.2M.
Adjusted EBITDA $178.5M (19.4% margin) incl. $55.1M tariff benefit; normalized adj. EBITDA $123.5M (13.4%).
FY2026 outlook: revenue +5.5-7.0%, adj. EBITDA margin 15.0-16.2%, FCF+asset sales+distributions $300-400M.
Launched RH Estates brand extension; avg price point 45% higher, potential to double TAM; Q4 revenue growth guided 16.1-21.2%.
RH London opened June 27; design pipeline ~$7M in 8 weeks; international drag to ease to 250 bps in H2.

This headline and bullets were generated automatically by deepseek-v4-flash:cloud@v2 from the public filing. Read the source on SEC.gov before relying on any specific claim. Not investment advice. See methodology for how this pipeline works.