Richelieu earnings plummet in Q4

Richelieu Hardware posted Q4 earnings of $29.4 million, or $0.51 per share, 36 percent below the comparable period of 2022. Sales were down by 0.8 percent to $453.7 million, the decline tempered by acquisitions. In Canada, sales fell by $2.6 million, or 4.4 percent, to $1.05 billion. On a call to analysts, CEO Richard Lord said “Richelieu is well positioned to achieve good results in 2024.”