Montreal-based Richelieu Hardware has reported its financial results for the second quarter ended May 31, with overall sales of $532.1 million, up 3.9% from a year ago.
“Our principal market segments continued to perform well during the second quarter, generating sales growth of 5.5% in Canada and 4.4% (US$) in the United States. Total sales increased by 3.9% to reach $532.1 million; on a constant-currency basis with 2025, this increase would have been 5.0%,” explained Richard Lord, President and Chief Executive Officer.
“In the manufacturers market, where sales totalled $473.7 million, the 3.8% increase was driven equally by internal growth and acquisitions. Sales to hardware retailers and renovation superstores market increased by 4.2% to $58.4 million.
“We remained focused on our expansion strategy to seize new acquisition opportunities. On May 1, 2026, we acquired Fini U.V. International Inc. (Finium) in Quebec, followed by the acquisitions of Distributions Air-Cube Inc. (Solutions Acoustiques) in the Greater Montreal Area on June 26, 2026 and Winnec Inc. (Winnec) in the Greater Toronto Area on July 8, 2026. These three recent acquisitions represent $27 million in additional annual sales, while bringing valuable market expertise, new customers and future synergies through specialized products that complement our diversified offering.
“At Richelieu, we continue to differentiate ourselves by offering design and space planning professional products that reflect the latest market trends. The addition of Finium and Solutions Acoustiques strengthens our leadership in decorative and acoustic solutions—two fast-growing market segments—while further expanding our presence among architects and designers across North America. This strategy builds on the recognition we received earlier this year with our Best of KBIS award in the Decorative Hardware category and reflects our commitment to remaining a leader in innovation and product differentiation.
Lord said the current economic environment is also creating attractive acquisition opportunities in its target markets.
“We continue to evaluate several opportunities and remain well positioned to pursue those that meet our strategic criteria and contribute to our long-term growth,” added Lord.
Following the acquisition of three McKillican American distribution centres in Oregon and Washington State during the first quarter, Richelieu acquired Finium on May 1, a distributor and manufacturer based in Frampton, Quebec, specializing in premium decorative and acoustic wall covering panels for residential and commercial applications. On June 26, it completed the acquisition of Solutions Acoustiques, which operates in the Greater Montreal Area as a specialized distributor of standard and premium acoustic products recognized for their performance and architectural design. This acquisition was followed by the acquisition of Winnec on July 8, a specialized hardware distributor operating three distribution centres in the Greater Toronto Area.
Over the coming periods, Richelieu said it will integrate these new operations while continuing to execute its strategy of innovation and expansion across the North American market.
HIGHLIGHTS OF THE SECOND QUARTER ENDED MAY 31, 2026
- Sales of $532.1 million, up 3.9%, including $291.1 million in Canada and US$175.5 million in the United States, up 5.5% and 4.4% (US$), respectively;
- EBITDA of $56.1 million – EBITDA margin of 10.6%;
- Net earnings attributable to shareholders of $23.2 million, or $0.42 per diluted share;
- Adjusted cash flows from operating activities of $47.9 million, or $0.87 per diluted share;
- Expansion: 1 acquisition (QC) on May 1, 2026, and 2 new acquisitions completed on June 26 and July 8, 2026 (QC and ON), adding $27 million in annual sales.
FIRST-HALF
- Sales of $995.6 million, up 4.4%, including $540.9 million in Canada and US$331.1 million in the United States, up 4.5 % and 7.5 % (US$) respectively;
- EBITDA of $99.4 million – EBITDA margin of 10.0%;
- Net earnings attributable to shareholders of $37.6 million, or $0.68 per diluted share;
- Adjusted cash flows from operating activities of $85.8 million, or $1.56 per diluted share;
- Strong financial position as at May 31, 2026, with working capital of $629.5 million (ratio of 3.0:1)
- Quarterly dividend of $0.1566 per share payable on August 7, 2026, to shareholders registered as of July 23, 2026.
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