Richelieu Hardware Ltd
RCH
ISIN CA76329W1032 / Valor 103204
Richelieu Hardware Ltd
UMushroom community rating:
About company
Richelieu Hardware Ltd is a prominent supplier in the hardware industry, offering an extensive portfolio of over 130,000 products across a diverse range of categories. The company caters to various sectors including furniture, building construction, and interior design, providing everything from decorative and functional hardware, lighting systems, and ergonomic workstation components to kitchen and closet storage solutions. Richelieu also specializes in sliding door systems, decorative panels, high-pressure laminates, and floor protection products, alongside accessories for power tools. A significant portion of its offerings, over 60%, is sold under its own brands, highlighting the company's emphasis on quality and brand recognition. Additionally, Richelieu boasts specialized products through its subsidiaries, Cedan Industries Inc. and Menuiserie des Pins Ltd, which produce veneer sheets, edge banding products, and decorative moldings. The company's commitment to innovation is evident in its tailored manufacturing approach, ensuring products meet specific customer and industry specifications.
Summarized from source with an LLMView SourceSector: Non-Energy MaterialsLatest Results (07.08.2024):
Sales Performance
Richelieu Hardware Ltd. reported sales of $406.9 million for the first quarter of 2024, marking a 1% increase from the same period in 2023. This growth was primarily driven by the manufacturers' market, which saw a 1.6% rise in sales to $349.6 million, largely due to recent acquisitions. However, sales to retailers and the renovation superstores market declined by 2.7%, totaling $57.3 million.
Geographical Sales
In the first quarter of 2024, Richelieu Hardware Ltd. achieved sales of $232.1 million in Canada, slightly up from $230.9 million in the first quarter of 2023. In the United States, sales reached US$129.9 million, representing a 1.7% increase and accounting for 43% of the total sales for the quarter.
EBITDA and Margins
Richelieu Hardware Ltd. reported an EBITDA of $40.4 million for the first quarter of 2024, a decrease of 17.7% compared to the same period in 2023. The EBITDA margin also fell to 9.9% from 12.2% in the first quarter of 2023. This decline was attributed to the sale of higher-cost inventory at market prices and the start-up costs of new distribution centers.
Net Earnings
Net earnings attributable to shareholders for Richelieu Hardware Ltd. in the first quarter of 2024 were $0.27 per diluted share, down from $0.40 per diluted share in the corresponding quarter of 2023. This decrease reflects the challenges faced in maintaining profit margins amidst fluctuating inventory costs and market conditions.
Dividend Announcement
Richelieu Hardware Ltd.'s Board of Directors approved a quarterly dividend of $0.15 per share on April 11, 2024. This dividend is scheduled to be paid on May 9, 2024, to shareholders of record as of April 25, 2024, continuing the company's commitment to returning value to its shareholders.
Summarized from source with an LLMView SourceKey figures
Performance
Volatility
1477 M
Market cap (USD)
29,583
Daily traded volume (Shares)
39.03 / 38.35
1 day high/low (USD)
52 weeks high/low (USD)
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EPS (USD)
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Ratings & reviews
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