Canada · Delayed Price · Currency is CAD Richelieu Hardware Earnings Call Transcripts
Fiscal Year 2026
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Q2 and first half saw solid sales and earnings growth, driven by internal gains and four acquisitions. EBITDA margin slightly declined due to tariffs, but management expects improvement in the second half. Ontario remains weak, while Quebec and specialized U.S. segments outperformed.
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Sales grew 5% to CAD 463.6 million in Q1 2026, driven by acquisitions and internal growth, with EBITDA up 1.9% despite FX and tariff pressures. Outlook remains positive, with robust M&A activity and margin improvement expected.
Fiscal Year 2025
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Q4 saw sales rise 7.3% and EBITDA up 9.1%, with strong cash flow and a robust acquisition pace. Retailer sales were flat or down due to timing, but manufacturer sales and U.S. growth were strong. EBITDA margin is expected to remain above 11% in 2026.
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Q3 sales rose 6.7% year-over-year, driven by internal growth and acquisitions, with EBITDA margin at 11.4%. Eight acquisitions in 2025 added $75 million in annual sales, and Q4 is expected to maintain similar performance. Market conditions remain uncertain, but outlook is confident.
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Q2 sales grew 6.4% with strong U.S. gains and stable Canadian results, supported by six acquisitions and network expansion. EBITDA rose 2.7% but margins declined due to integration costs. Tariff-related price increases were passed through, with minimal margin impact.
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Q1 2025 sales grew 8.6% year-over-year, driven by internal growth and acquisitions, with strong performance in the manufacturers' segment and stable retail sales. EBITDA rose 5%, but net earnings fell 8.6% due to higher amortization. U.S. tariffs and market volatility remain key risks.
Fiscal Year 2024
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Fourth quarter sales grew 5% year-over-year, driven by internal growth and acquisitions, but EBITDA margin declined to 11.4% due to price deflation and higher costs. Seven acquisitions in 2024 and early 2025 are expected to add CAD 100 million in annual sales and expand product lines.
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Q3 sales grew 1.9% year-over-year, driven by US acquisitions, but margins and net earnings declined due to cost pressures and soft retail demand. Four new acquisitions are expected to add up to CAD 40 million in revenue, with only slight margin improvement anticipated unless markets recover.
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Q2 sales grew 2% year-over-year, driven by U.S. manufacturer growth and acquisitions, but EBITDA and net earnings declined due to margin pressure and amortization. Retail sales remain soft, but new projects and cost rationalization are expected to support future growth.