Sep. 13 at 12:59 PM
$RH Trimmed its guidance, now expecting revenue growth of 9–11% instead of 10–13%, & lowered adjusted EBITDA margin forecasts to 19–20%. Production is being moved away from China & India toward domestic plants, a logistical maneuver unlikely to inspire much beyond higher costs. The CEO warned of “significant inflation” through 2026, as though this revelation will shock anyone. Risks are the same: tariffs, costs & consumer wallets. The stock shows resistance around current levels, but that resistance may just be fatigue.
#RKT Notes: The Redfin purchase. Fifty million monthly visitors now feed into a mortgage machine already chained to rate cycles. A funnel. Falling rates. Rates down, volumes up. This is the entire “thesis.” It was true yesterday, it will be true tomorrow. Mr. Cooper synergies. They promise
$500 million in “synergies.” Redfin synergies. Over
$200 million projected. Allegedly from cost cuts & cross-selling. EPS boost. Analysts raised 2026 EPS forecasts by 11%.
