RICHELIEU HARDWARE Reports First Quarter FY2023 Earnings Results on February 28, 2023.
April 8, 2023
Earnings Overview
RICHELIEU HARDWARE ($TSX:RCH) reported earnings results for the first quarter of FY2023, ending April 6th, 2023. Total revenue for the quarter was CAD 22.4 million, which represented a decrease of 25.6% compared to the same period in the prior year. Net income for the quarter, however, was up 4.8% from the same time last year, totaling CAD 403.0 million.
Market Price
On Thursday, February 28, 2023, RICHELIEU HARDWARE released their financial results for the first quarter of FY2023. Their stock opened at CA$36.5 and closed at CA$37.2, representing a 1.2% increase from the previous day’s closing price of CA$36.8. The company saw a strong performance in the third quarter of their fiscal year, reporting an overall growth in their earnings.
The company attributed the success to their focus on cost optimization and strategic investments, with improved cost efficiencies resulting in increased profitability. Overall, investors responded positively to RICHELIEU HARDWARE’s financial results, with stock prices increasing after the announcement and continued optimism that the company can maintain its strong performance for the remainder of the fiscal year. Live Quote…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for Richelieu Hardware. More…
| Total Revenues | Net Income | Net Margin |
| 1.82k | 160.68 | 8.8% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for Richelieu Hardware. More…
| Operations | Investing | Financing |
| 17.81 | -42.94 | -78.05 |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for Richelieu Hardware. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 1.35k | 510.43 | 14.65 |
Key Ratios Snapshot
Some of the financial key ratios for Richelieu Hardware are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| 19.6% | 33.6% | 12.7% |
| FCF Margin | ROE | ROA |
| -0.4% | 17.5% | 10.7% |
Analysis
At GoodWhale, we have conducted an analysis of the fundamentals of RICHELIEU HARDWARE. We rate the company as a medium risk investment in terms of financial and business aspects. Our analysis has flagged two potential risk warnings in their cashflow statement and financial journal. To view more details on the risk levels, please visit goodwhale.com to register and access our detailed report. More…
Peers
Richelieu Hardware Ltd is no stranger to the competition they face from their competitors. La-Z-Boy Inc, MasterBrand Inc, and Techcential International Ltd are all formidable foes in the hardware industry. Despite the tough competition, Richelieu Hardware Ltd has managed to remain a leader in the market due to their dedication to quality and innovation.
– La-Z-Boy Inc ($NYSE:LZB)
La-Z-Boy Inc is an American furniture manufacturer and retailer, best known for its recliners and upholstered chairs. The company has a market cap of 1.15 billion as of 2023 and has seen an impressive Return on Equity of 17.04%. This indicates that the company has been able to generate strong profits with its operations and has successfully utilized the capital provided by its shareholders. La-Z-Boy Inc has a wide network of retail stores across the United States, Canada, Mexico and other countries, allowing it to reach a large customer base. It is also involved in the design, manufacture, marketing, and distribution of furniture, as well as the sale of furniture through its own retail stores.
– MasterBrand Inc ($NYSE:MBC)
MasterBrand Inc is a leading global manufacturer of kitchen and bath cabinetry, accessories, and storage solutions. Founded in 1986, the company has grown to become the largest cabinet manufacturer in the United States, with a diversified portfolio of over nine brands. As of 2023, the company has a market capitalization of 1.06 billion dollars. Its Return on Equity (ROE) is 6.59%, which means that for every dollar invested in the company, 6.59 cents are earned back as profit. This indicates that MasterBrand Inc is a strong and profitable company.
– Techcential International Ltd ($TPEX:6616)
Techcential International Ltd is a technology company that specializes in providing innovative solutions to organizations and businesses. The company has a market cap of 395.02M as of 2023, making it one of the largest tech companies in the world. It also has a Return on Equity (ROE) of 8.26%, which indicates that its shareholders are receiving a substantial return on their investments. The company’s high market cap and ROE demonstrate that it is a profitable and successful business with the potential to continue to grow and expand in the future.
Summary
RICHELIEU HARDWARE reported their earnings for the first quarter of FY2023, with total revenue falling 25.6% from the previous year. Despite this decrease, net income was up 4.8% year over year at CAD 403.0 million. For investors, this may indicate that the company is well positioned to weather the current economic conditions and its diversified business model is providing a cushion against declines in certain areas. With cost-cutting measures and other strategies implemented, RICHELIEU HARDWARE could be an attractive play for long-term investors.
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