Richelieu Q4 sales down slightly year over year

Richelieu had consolidated sales of $453.6 million for the fourth quarter of 2023, down slightly by 0.8 percent over sales of $457.5 million in the fourth quarter of 2022. Earnings before interest, income taxes, and amortization (EBITDA) were $58.8 million, down 23.3 percent compared with $76.7 million in the fourth quarter of 2022. The gross margin reduced compared to the previous year and EBITDA margin stood at 13 percent, compared with 16.8 percent for the fourth quarter of 2022. The company had net earnings of $29.4 million, down by 35.7 percent over the corresponding quarter of 2022.