Richelieu Hardware Ltd. reported consolidated sales of $499.2 million for the third quarter ended Aug. 31, a 6.7 per cent increase over the same period last year, driven by internal growth and recent acquisitions.
The company said internal growth accounted for 4.1 per cent of the increase, while acquisitions contributed 2.6 per cent. Net earnings attributable to shareholders were $23.9 million, or $0.43 per diluted share, up 4.9 per cent from the third quarter of 2024.
“The solid performance of all of our market segments in the United States and in all regions of Canada, with the exception of Ontario, resulted in sales growth of 6.7 per cent in the third quarter,” said Richard Lord, president and chief executive officer of Richelieu.
“Our sales increased by 6.5 per cent in the manufacturers’ market to reach $442.5 million and they rose by 8.6 per cent in the retailers’ market to $56.7 million.”
Following the end of the quarter, Richelieu completed two acquisitions — Ideal Security and Finmac Lumber — adding $22 million in projected annual sales.
“The acquisition of Ideal Security, a Canadian distributor of door and window products mainly for the retailers’ market, enables us to increase our sales and broaden our offering in Canada and in the United States,” said Lord. “As for the acquisition of Finmac Lumber, it strengthens our presence in Manitoba and allows us to complete our product lines in this market.”
Lord added the company continues to execute on its disciplined growth strategy and expects to close out the fiscal year with strong results.
For the quarter, EBITDA reached $57 million, an increase of $4.1 million or 7.7 per cent year-over-year. The EBITDA margin was 11.4 per cent, compared to 11.3 per cent for the same period in 2024. Net earnings were $25.6 million, up 6.7 per cent year-over-year.
“I am also proud to highlight that our operations generated $82.7 million in cash flow during the quarter, including a $16 million reduction in inventories, generating a positive cash position,” said Lord. “This reflects the strength of our financial position and an exceptional balance sheet.”
He added: “Despite uncertainties related to tariffs, our business model remains strong: it enables us to protect our margins, stay competitive, and respond with agility to our customers’ needs.”
In the first nine months of fiscal 2025, Richelieu posted sales of $1.45 billion, up 7.2 per cent compared to the same period in 2024. EBITDA for the nine months totalled $154.7 million, while net earnings attributable to shareholders were $60.3 million, or $1.08 per diluted share.
Cash flows from operating activities reached $133.6 million in the first nine months, compared to $106.4 million in the same period of 2024.
Since the beginning of 2025, Richelieu has completed eight acquisitions — six in the first half of the year and two after the third quarter — representing more than $75 million in additional annual sales.
The company’s board of directors approved a quarterly dividend of $0.1533 per share, payable Nov. 6, 2025, to shareholders of record as of Oct. 23, 2025. The dividend is designated as an eligible dividend under the Income Tax Act of Canada.
Richelieu, a TSX-listed company, operates 117 centres across North America and serves more than 120,000 customers in the specialty hardware market.
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