first quarter of 2022 43.2% increase in net earnings per shr Sales in the United States reach 40% of total sales
- Total sales for the first quarter ended February 28, 2022 reached $384.5 million, up 29.2%, of which 16.3% was internal growth and 12.9% by acquisitions. In Canada, sales were $230.5 million, up 19.3%. In the United States, sales rose by 48.0% (US$) to US$121.2 million, accounting for 40% of total sales in Canadian currency.
- EBITDA was $53.7 million, up 40.8%, and EBITDA margin increased to 14.0%, compared to 12.8% in Q1 2021.
- Net earnings attributable to shareholders increased 43.4% to $30.1 million, or $0.53 per share diluted, up 43.2%.
- The three acquisitions concluded in the United States on December 31, 2021 represent additional sales of approximately $100 million on an annual basis.
- The financial position remains sound and solid with working capital of $449.9 million for a ratio of 2.9:1 and an average return on equity of 24.0% at February 28, 2022.
MONTREAL, April 7, 2022 /CNW Telbec/ - "Richelieu (RCH: TSX) started the 2022 fiscal year with sharply improved results, reflecting solid internal growth as well as a substantial contribution from acquisitions in the first quarter ended February 28. Thanks to our interconnected network, our strategies of continuous innovation, acquisition and multi-access service, we have seized the opportunities generated by the diversified and vigorous markets we serve. The financial performance of the first quarter, both in Canada and the United States, is all the more satisfactory since the first three months of the year are historically the weakest", indicated Richard Lord, President and Chief Executive Officer.