Howden Joinery Group (HWDN) Q1 2026 TU earnings summary

Executive summary

• Underlying Group sales grew 3.7% year-over-year for the first 16 weeks of 2026, with UK up 3.5% and International up 9.1% despite two fewer trading days.

• Price increases were implemented across all geographies, optimizing margin and volume.

• Supply chain remains robust, with strong stock availability and hedged fuel expenses through year-end.

Financial highlights

• Group revenue up 3.7% year-over-year; UK revenue up 3.5%, International up 9.1%.

• On a same depot basis, Group sales rose 2.8%, UK 2.6%, International 7.9%.

• Adjusted for two fewer trading days, underlying performance remains positive.

Outlook and guidance

• Trading is on track with 2026 outlook; sales are expected to be weighted toward the second half due to the Autumn peak.

• Continued investment in the trade-only, local business model is planned.

• Confidence maintained in the differentiated business model.