Filing Flows › RH (RH) › Q2 FY27
RH (RH) Q2 FY27 earnings results (second quarter fiscal 2027)
10-Q filed Sep 10, 2026
RH (RH) reported revenue of $922M for the second quarter fiscal 2027 (Q2 FY27), +3% from a year earlier and +15% from the quarter before. Operating margin was 11.7%, net earnings $60.2M (6.5% of revenue).
RH, Q2 FY27: revenue $922M (+3% year over year), operating margin 11.7%, net earnings $60.2M, operating cash flow $145M. The chart follows the revenue to costs, profit and cash.
| Q2 FY27 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $922M | +15% | +3% |
| Gross profit | $445M | +34% | +9% |
| Operating profit | $108M | +214% | -17% |
| Net earnings | $60.2M | — | +16% |
| Operating cash flow | $145M | +177% | +5% |
| Free cash flow | $99.6M | +650% | +23% |
What changed
Revenue was $922.1M in Q2 FY27, up 3% year over year and up 15% from the previous quarter.
Gross margin was 48.2%, up 2.7 points from Q2 FY26. Operating profit was $107.6M, a 11.7% margin (down 2.7 points year over year). Operating profit fell $21.3M even though revenue rose $23.0M versus Q2 FY26, so costs grew faster than sales. Operating expenses grew 20% against revenue growth of 3%. Net earnings were $60.2M, up 16% year over year. The effective tax rate was 21.3%.
Operating cash flow was $145.2M (up 5% year over year), 241% of net earnings. Non-cash charges added back $40.9M of depreciation and amortization and $12.5M of share-based compensation. Working capital and other items added $31.6M. Capital expenditures of $45.6M left free cash flow of $99.6M.
Questions
What was RH's revenue in the second quarter fiscal 2027?
RH (RH) reported revenue of $922M for the second quarter fiscal 2027 (Q2 FY27), +3% from a year earlier and +15% from the quarter before.
Was RH profitable in the second quarter fiscal 2027?
Operating profit was $108M (11.7% of revenue) and net earnings $60.2M.
Source: RH 10-Q on SEC EDGAR.