Richelieu Hardware Q2 profit down from year ago, sales up on acquisitions and growth

Richelieu Hardware head offices are seen Tuesday, Jan. 11, 2011 in Montreal. THE CANADIAN PRESS/Ryan Remiorz

MONTREAL — Richelieu Hardware Ltd. reported its second-quarter profit fell compared with a year ago as its consolidated sales climbed, helped by internal growth and acquisitions.

The specialty hardware company says, including non-controlling interests, net earnings attributable to shareholders totalled US$22.5 million for the quarter ended May 31, down 3.9 per cent from a year ago.

The profit amounted to 41 cents per diluted share for the quarter, down from 42 cents per diluted share in the same quarter last year.

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Sales in the quarter totalled US$512.2 million compared with US$481.4 million in the second quarter of 2024.

Richelieu says part of the internal growth in the U.S. came from price adjustments applied to reflect new tariffs, representing essentially a cost pass-through with no impact on gross margin.

In Canada, the company says overall sales remained stable, reflecting good performance in the Eastern manufacturing markets, offset by a decline in Ontario due to a more challenging economic environment.

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This report by The Canadian Press was first published July 10, 2025.