Filing Flows › RH (RH) › Q3 FY26
RH (RH) Q3 FY26 earnings results (third quarter fiscal 2026)
10-Q filed Dec 11, 2025
RH (RH) reported revenue of $884M for the third quarter fiscal 2026 (Q3 FY26), +9% from a year earlier and -2% from the quarter before. Operating margin was 12.0%, net earnings $36.3M (4.1% of revenue).
RH, Q3 FY26: revenue $884M (+9% year over year), operating margin 12.0%, net earnings $36.3M, operating cash flow $132M. The chart follows the revenue to costs, profit and cash.
| Q3 FY26 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $884M | -2% | +9% |
| Gross profit | $390M | -5% | +8% |
| Operating profit | $106M | -18% | +4% |
| Net earnings | $36.3M | -30% | +9% |
| Operating cash flow | $132M | -4% | — |
| Free cash flow | $83.0M | +3% | — |
What changed
Revenue was $883.8M in Q3 FY26, up 9% year over year and down 2% from the previous quarter.
Gross margin was 44.1%, down 0.4 points from a year earlier. Operating profit was $105.9M, a 12.0% margin (down 0.5 points year over year). Of the extra revenue versus a year earlier, 6% reached operating profit, below the 13% margin then. Operating expenses grew 9% against revenue growth of 9%. Net earnings were $36.3M, up 9% year over year. The effective tax rate was 24.3%.
Operating cash flow was $131.9M, 364% of net earnings. Non-cash charges added back $38.4M of depreciation and amortization and $11.3M of share-based compensation. Working capital and other items added $45.9M. Capital expenditures of $48.8M left free cash flow of $83.0M.
Questions
What was RH's revenue in the third quarter fiscal 2026?
RH (RH) reported revenue of $884M for the third quarter fiscal 2026 (Q3 FY26), +9% from a year earlier and -2% from the quarter before.
Was RH profitable in the third quarter fiscal 2026?
Operating profit was $106M (12.0% of revenue) and net earnings $36.3M.
Source: RH 10-Q on SEC EDGAR.