Q2 2022 Richelieu Hardware Ltd Earnings Call Transcript

Feb 14, 2024

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Jul 07, 2022 / 06:30PM GMT
Operator

Good afternoon, ladies and gentlemen, and welcome to Richelieu Hardware Second Quarter 2022 Conference Call. (Operator Instructions) Also note that the call is being recorded on July 7, 2022. (foreign language)

Richard Lord - Richelieu Hardware Ltd. - CEO, President & Executive Director

(foreign language) Thank you. Good afternoon, ladies and gentlemen, and welcome to this Richelieu's conference call for the second quarter and first 6 months ended May 31, 2022. With me is Antoine Auclair, CFO. As usual, note that some of today's issue include forward-looking information, which is provided with the usual disclaimer as reported in our financial filings.

We achieved strong growth in the second quarter as reflected in our results with a 31.4% increase in total sales, including a record 55% increase in the U.S. sales, a 25.8% increase in net earnings per share and a sound financial position with a 24.4% return on average equity.

We are benefiting from our recent acquisitions and the investments that we have made in recent years in new market

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