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Operating Income by Segment
Shows profitability for each business line (for example galleries, online, membership services or commercial/design projects), revealing which parts of RH generate healthy margins and which are loss-making. Useful for spotting whether growth comes from high-margin areas or from investments that could pressure the bottom line.RH’s operating income has shifted from pandemic-era strength to a much lower, more volatile footing, with the latest quarter falling into negative territory — driven less by a structural demand collapse and more by costly strategic moves (international gallery openings, RH Estates) and hefty pre‑opening/start‑up and tariff-related backorder costs. Waterworks remains a modest, waning profit contributor. The path to restored profitability hinges on H2 backlog conversion, new‑store productivity, Estates traction and planned asset sales/deleveraging; miss those execution milestones and margins stay pressured.
Date | RH | Waterworks |
|---|---|---|
Jun 30, 2026 | $110.88M | $10.33M |
Mar 31, 2026 | -$1.04M | $3.62M |
Dec 31, 2025 | $92.20M | $4.35M |
Sep 30, 2025 | $97.15M | $5.41M |
Jun 30, 2025 | $128.75M | $6.87M |
Mar 31, 2025 | $51.45M | $5.31M |
Dec 31, 2024 | $85.45M | $6.70M |
Sep 30, 2024 | $118.79M | $3.08M |
Jun 30, 2024 | $90.53M | $6.46M |
Mar 31, 2024 | $41.43M | $5.80M |