$RH
RH

2023 Q4 Form 10-Q Financial Statement

#000155837023019631 Filed on December 07, 2023

View on sec.gov

Income Statement

Concept 2023 Q4
Revenue $751.2M
YoY Change -13.56%
Cost Of Revenue $410.8M
YoY Change -8.37%
Gross Profit $340.5M
YoY Change -19.09%
Gross Profit Margin 45.32%
Selling, General & Admin $289.2M
YoY Change 15.44%
% of Gross Profit 84.95%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $28.46M
YoY Change 1.53%
% of Gross Profit 8.36%
Operating Expenses $289.2M
YoY Change 15.44%
Operating Profit $51.24M
YoY Change -69.91%
Interest Expense $54.64M
YoY Change 73.92%
% of Operating Profit 106.64%
Other Income/Expense, Net $59.95M
YoY Change 79.44%
Pretax Income -$8.709M
YoY Change -106.36%
Income Tax -$9.215M
% Of Pretax Income
Net Earnings -$2.187M
YoY Change -102.21%
Net Earnings / Revenue -0.29%
Basic Earnings Per Share -$0.12
Diluted Earnings Per Share -$0.12
COMMON SHARES
Basic Shares Outstanding 18.37M
Diluted Shares Outstanding 18.37M

Balance Sheet

Concept 2023 Q4
SHORT-TERM ASSETS
Cash & Short-Term Investments $380.7M
YoY Change -82.3%
Cash & Equivalents $380.7M
Short-Term Investments
Other Short-Term Assets $28.63M
YoY Change 1.92%
Inventory $719.0M
Prepaid Expenses $17.44M
Receivables $56.05M
Other Receivables $46.86M
Total Short-Term Assets $1.287B
YoY Change -60.6%
LONG-TERM ASSETS
Property, Plant & Equipment $1.665B
YoY Change 5.55%
Goodwill $141.0M
YoY Change -0.02%
Intangibles
YoY Change
Long-Term Investments $128.1M
YoY Change 32.07%
Other Assets $200.7M
YoY Change 57.43%
Total Long-Term Assets $2.954B
YoY Change 12.86%
TOTAL ASSETS
Total Short-Term Assets $1.287B
Total Long-Term Assets $2.954B
Total Assets $4.241B
YoY Change -27.93%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $179.5M
YoY Change -0.52%
Accrued Expenses $309.7M
YoY Change 7.78%
Deferred Revenue
YoY Change
Short-Term Debt $0.00
YoY Change
Long-Term Debt Due $84.96M
YoY Change 4924.13%
Total Short-Term Liabilities $935.0M
YoY Change -0.02%
LONG-TERM LIABILITIES
Long-Term Debt $3.053B
YoY Change -2.34%
Other Long-Term Liabilities $9.300M
YoY Change 30.05%
Total Long-Term Liabilities $9.300M
YoY Change 30.05%
TOTAL LIABILITIES
Total Short-Term Liabilities $935.0M
Total Long-Term Liabilities $9.300M
Total Liabilities $4.574B
YoY Change -0.35%
SHAREHOLDERS EQUITY
Retained Earnings -$595.1M
YoY Change -159.95%
Common Stock $2.000K
YoY Change 0.0%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity -$333.2M
YoY Change
Total Liabilities & Shareholders Equity $4.241B
YoY Change -27.93%

Cashflow Statement

Concept 2023 Q4
OPERATING ACTIVITIES
Net Income -$2.187M
YoY Change -102.21%
Depreciation, Depletion And Amortization $28.46M
YoY Change 1.53%
Cash From Operating Activities $67.77M
YoY Change -52.77%
INVESTING ACTIVITIES
Capital Expenditures $50.24M
YoY Change -206.63%
Acquisitions
YoY Change
Other Investing Activities -$621.0K
YoY Change -113.82%
Cash From Investing Activities -$50.86M
YoY Change 19.33%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -53.89M
YoY Change 70.93%
NET CHANGE
Cash From Operating Activities 67.77M
Cash From Investing Activities -50.86M
Cash From Financing Activities -53.89M
Net Change In Cash -36.97M
YoY Change -153.31%
FREE CASH FLOW
Cash From Operating Activities $67.77M
Capital Expenditures $50.24M
Free Cash Flow $17.53M
YoY Change -90.8%

Facts In Submission

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<p style="font-family:'Times New Roman','Times','serif';font-size:10pt;font-weight:bold;margin:0pt 0pt 2pt 0pt;">Business Conditions</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt 0pt 9pt 0pt;">There are a number of macroeconomic factors and uncertainties affecting the overall business climate as well as our business, including substantially higher interest and mortgage rates, increased inflation and volatility in the global financial markets related to the foregoing as well as, among other things, the conflict in the Middle East and the recent failures of several financial institutions. We experienced increased demand for our products during the pandemic, and there have been significant shifts in consumer consumption patterns with the easing of the pandemic including increases in travel and services rather than spending on home furnishings. These and other macroeconomic factors may have a number of adverse effects on macroeconomic conditions and markets in which we operate, including the housing market, with the potential for an economic recession and a sustained downturn in the housing market. Factors such as a slowdown in the housing market or negative trends in stock market prices could have an adverse impact on demand for our products. We believe that these macroeconomic and other factors have contributed to the slowdown in demand that we have experienced in our business over the last several fiscal quarters.</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt 0pt 9pt 0pt;">Our decisions regarding the sources and uses of capital will continue to reflect and adapt to changes in market conditions and our business, including further developments with respect to macroeconomic factors.</p>
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CY2023Q4 rh Operating And Finance Lease Liability Undiscounted Excess Amount
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CY2023Q4 rh Operating And Finance Lease Liability
OperatingAndFinanceLeaseLiability
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CY2023Q4 rh Lessee Operating And Finance Lease Lease Not Yet Commenced Amount
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CY2022Q4 us-gaap Finance Lease Weighted Average Remaining Lease Term1
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CY2022Q4 us-gaap Finance Lease Weighted Average Discount Rate Percent
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OperatingAndFinanceLeasePayments
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us-gaap Debt Instrument Covenant Description
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The ABL Credit Agreement does not contain any significant financial ratio covenants or coverage ratio covenants other than a consolidated fixed charge coverage ratio (“FCCR”) covenant based on the ratio of (i) consolidated EBITDA to the amount of (ii) debt service costs plus certain other amounts, including dividends and distributions and prepayments of debt as defined in the ABL Credit Agreement (the “FCCR Covenant”). The FCCR Covenant only applies in certain limited circumstances, including when the unused availability under the ABL Credit Agreement drops below the greater of (A) $40 million and (B) an amount based on 10% of the total borrowing availability at the time. The FCCR Covenant ratio is set at 1.0 and measured on a trailing twelve-month basis. As of October 28, 2023, RHI was in compliance with the FCCR Covenant.
us-gaap Debt Instrument Covenant Compliance
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As of October 28, 2023, RHI was in compliance with the FCCR Covenant.
CY2023Q4 us-gaap Income Tax Expense Benefit
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CY2022Q4 us-gaap Income Tax Expense Benefit
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CY2022Q4 us-gaap Weighted Average Number Of Shares Outstanding Basic
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us-gaap Weighted Average Number Of Shares Outstanding Basic
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us-gaap Weighted Average Number Of Shares Outstanding Basic
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CY2022Q4 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
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us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
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us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
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CY2022Q4 us-gaap Incremental Common Shares Attributable To Conversion Of Debt Securities
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us-gaap Incremental Common Shares Attributable To Conversion Of Debt Securities
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us-gaap Incremental Common Shares Attributable To Conversion Of Debt Securities
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CY2023Q4 us-gaap Weighted Average Number Of Diluted Shares Outstanding
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CY2022Q4 us-gaap Weighted Average Number Of Diluted Shares Outstanding
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us-gaap Weighted Average Number Of Diluted Shares Outstanding
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us-gaap Weighted Average Number Of Diluted Shares Outstanding
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CY2023Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Outstanding Weighted Average Exercise Price
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356997000
CY2023Q4 us-gaap Revenue From Contract With Customer Including Assessed Tax
RevenueFromContractWithCustomerIncludingAssessedTax
751225000
CY2022Q4 us-gaap Revenue From Contract With Customer Including Assessed Tax
RevenueFromContractWithCustomerIncludingAssessedTax
869066000
CY2023Q4 us-gaap Gross Profit
GrossProfit
340450000
CY2022Q4 us-gaap Gross Profit
GrossProfit
420778000
CY2023Q4 us-gaap Depreciation And Amortization
DepreciationAndAmortization
28454000
CY2022Q4 us-gaap Depreciation And Amortization
DepreciationAndAmortization
28032000
us-gaap Revenue From Contract With Customer Including Assessed Tax
RevenueFromContractWithCustomerIncludingAssessedTax
2290866000
us-gaap Revenue From Contract With Customer Including Assessed Tax
RevenueFromContractWithCustomerIncludingAssessedTax
2817978000
us-gaap Gross Profit
GrossProfit
1068068000
us-gaap Gross Profit
GrossProfit
1442579000
us-gaap Depreciation And Amortization
DepreciationAndAmortization
84360000
us-gaap Depreciation And Amortization
DepreciationAndAmortization
79760000
CY2023Q4 us-gaap Goodwill
Goodwill
140997000
CY2023Q1 us-gaap Goodwill
Goodwill
141048000
CY2023Q4 us-gaap Indefinite Lived Intangible Assets Excluding Goodwill
IndefiniteLivedIntangibleAssetsExcludingGoodwill
75746000
CY2023Q1 us-gaap Indefinite Lived Intangible Assets Excluding Goodwill
IndefiniteLivedIntangibleAssetsExcludingGoodwill
74633000
CY2023Q4 us-gaap Equity Method Investments
EquityMethodInvestments
128112000
CY2023Q1 us-gaap Equity Method Investments
EquityMethodInvestments
101468000
CY2023Q4 us-gaap Assets
Assets
4240619000
CY2023Q1 us-gaap Assets
Assets
5309289000
CY2023Q4 us-gaap Revenue From Contract With Customer Including Assessed Tax
RevenueFromContractWithCustomerIncludingAssessedTax
751225000
CY2022Q4 us-gaap Revenue From Contract With Customer Including Assessed Tax
RevenueFromContractWithCustomerIncludingAssessedTax
869066000
us-gaap Revenue From Contract With Customer Including Assessed Tax
RevenueFromContractWithCustomerIncludingAssessedTax
2290866000
us-gaap Revenue From Contract With Customer Including Assessed Tax
RevenueFromContractWithCustomerIncludingAssessedTax
2817978000
rh Entity Wide Revenue Major Customer Number
EntityWideRevenueMajorCustomerNumber
0
rh Entity Wide Revenue Major Customer Number
EntityWideRevenueMajorCustomerNumber
0
CY2023Q4 ecd Rule10b51 Arr Trmntd Flag
Rule10b51ArrTrmntdFlag
false
CY2023Q4 rh Rule10b51arrmodified Flag
Rule10b51arrmodifiedFlag
false
CY2023Q4 ecd Non Rule10b51 Arr Trmntd Flag
NonRule10b51ArrTrmntdFlag
false
CY2023Q4 rh Nonrule10b51arrmodified Flag
Nonrule10b51arrmodifiedFlag
false
CY2023Q4 ecd Rule10b51 Arr Adopted Flag
Rule10b51ArrAdoptedFlag
false
CY2023Q4 ecd Non Rule10b51 Arr Adopted Flag
NonRule10b51ArrAdoptedFlag
false

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0001558370-23-019631.txt Edgar Link pending
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rh-20231028_lab.xml Edgar Link unprocessable
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