RH restates prior quarterly EPS due to debt extinguishment accounting error; updates FY2022 guidance

Restating Q1-Q3 FY2022 EPS: basic EPS corrected from $15.34 to $8.88 (Q1), $5.95 to $5.00 (Q2), $25.07 to $17.88 (Q3).
Diluted EPS corrected from $12.16 to $7.22 (Q1), $5.37 to $4.54 (Q2), $21.70 to $15.65 (Q3). Net income unchanged.
Identified material weakness in internal controls over financial reporting; disclosure controls also ineffective.
FY2022 guidance: revenue growth at lower end of prior (3.5%-4.5%) decline; adjusted operating margin toward high end of 21.5%-22.0%.
Non-GAAP adjusted effective tax rate to increase above 0%, reducing previously reported adjusted diluted EPS.

item 2.02 item 4.02

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Earnings Releases SEC 8-K Item 2.02 confidence 0.9

RH updated its fiscal 2022 guidance (reaffirmed).

Period: fiscal 2022
Guidance: reaffirmed
Result: guidance update

Exact text from the filing

we are updating our fiscal 2022 outlook by confirming that we now expect fiscal 2022 revenue growth at the lower end of the prior range of (3.5%) to (4.5%) and adjusted operating margin toward the higher end of the prior range of 21.5% to 22.0%.

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Source: SEC EDGAR

accession 0001558370-23-000847

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