Q3 2024 Richelieu Hardware Ltd Earnings Call Transcript

Oct 10, 2024 / 06:30PM GMT
Operator

(audio in progress) Third quarter results conference call. (Operator Instructions) Also note that this call is being recorded on October 10, 2024. (spoken in foreign language)

Richard Lord – Richelieu Hardware Ltd – President, Chief Executive Officer, Director

Merci. Thank you. Good afternoon, ladies, and gentlemen, and welcome to Richelieu’s conference call for the third quarter and first nine months ended August 31, 2024. With me is Antoine Auclair, CFO. As usual, note that some of today’s issues include forward-looking information which is provided with the usual disclaimer as reported in our financial filings.

Overall, we had a good third quarter where we achieved sales growth and maintained a healthy and solid financial position, considering the soft demand in the R&R and the new housing market. Total sales growth for the quarter reached 1.9%, partially fueled by our strong performance in the US manufacturers market where sales increased by 7.5% in US dollar, driven by the significant impact of our acquisitions.

As for the retailer