Richelieu Hardware (RCH) Q4 2025 earnings summary

Executive summary

• Achieved strong Q4 and full-year growth, with sales up 7.3% to CAD 511 million in Q4 and CAD 1.96 billion for the year, and EBITDA up 9.1% in Q4 and 6.2% for the year.

• Completed 10 acquisitions in 13 months, adding CAD 100 million in sales and expanding private brand offerings to 10 brands.

• Ended the year with a positive cash position, minimal debt, and working capital of CAD 622–624 million.

• Expanded North American presence to 119 centers, including 51 in Canada and 65 in the U.S.

Financial highlights

• Q4 net earnings attributable to shareholders were CAD 25.6 million, up from CAD 24.4 million year-over-year, with diluted EPS of CAD 0.46, up 4.5%.

• Full-year net earnings were CAD 85.8 million, or CAD 1.55 per diluted share, up 1.3%.

• Q4 EBITDA was CAD 59.2 million, up 9.1%, with an EBITDA margin of 11.6%.

• Yearly EBITDA was CAD 213.9 million, up 6.2%, with a margin of 10.9%.

• Cash flow from operations reached CAD 202 million for the year and CAD 68.7 million in Q4, aided by a CAD 30–33.6 million inventory reduction.

Outlook and guidance

• Q1 started with flat sales in the retailer market and about 5% growth in the manufacturers market.

• U.S. market expected to see slightly higher growth than Canada.

• EBITDA margin expected to remain slightly above 11% for 2026, with continued improvement anticipated.

• M&A pipeline remains healthy, targeting CAD 100 million in acquisitions for 2026.

• Quarterly dividend increased by 2.2% to CAD 0.1566 per share for Q1 2026.