Richelieu Hardware Ltd

RCH

Equity

ISIN CA76329W1032 / Valor 103204

Toronto Stock Exchange (2025-04-04)

CAD 33.54+1.12%

Richelieu Hardware Ltd
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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 Materials

Revenue Growth

In the second quarter of 2024, Richelieu Hardware Ltd reported consolidated sales of $481.4 million, marking a 2% increase compared to the same quarter in 2023. This growth was primarily driven by a 6% increase in U.S. sales, which amounted to US$150.5 million. The Canadian market contributed $276.3 million to the total sales.

EBITDA and Margins

Richelieu Hardware Ltd's EBITDA for Q2 2024 was $53.8 million, with an EBITDA margin of 11.2%. This represents a decrease from the previous year's EBITDA margin of 13.0%, primarily due to lower gross margins and increased operational expenses related to recent expansion projects.

Net Earnings

The net earnings attributable to shareholders for the second quarter of 2024 were $23.4 million, or $0.42 per diluted share. This reflects a 23.7% decrease from the net earnings reported in Q2 2023, which were $30.7 million, or $0.55 per diluted share.

Cash Flow

Richelieu Hardware Ltd generated cash flows from operating activities of $55.7 million in Q2 2024. This is a decrease from the $74.4 million reported in the same quarter of the previous year, mainly due to a reduction in net earnings and changes in non-cash working capital items.

Dividend Announcement

The Board of Directors of Richelieu Hardware Ltd declared a quarterly dividend of $0.15 per share for Q2 2024. This dividend is payable on August 8, 2024, to shareholders of record as of July 25, 2024, and is designated as an eligible dividend under Canadian tax regulations.

Summarized from source with an LLMView Source

Key figures

-18.7%1Y

-24.2%3Y

55.2%5Y

Performance

23.0%1Y

25.5%3Y

27.1%5Y

Volatility