Q4 2023 Richelieu Hardware Ltd Earnings Call Transcript
Good afternoon, ladies and gentlemen, and welcome to Richelieu Hardware fourth-quarter results conference call. (Operator Instructions) This call is being recorded on January 18, 2024. (Spoken in foreign language)
Thank you. Good afternoon, ladies and gentlemen, and welcome to Richelieu's conference call for the fourth quarter and 12-month period ended November 30, 2023. 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 ended 2023 with a solid fourth quarter. Our sales are nearly in line with those of the same quarter of 2022 when the renovation market continued to benefit from favorable market conditions. Our inventory level continued to improve, helping generating over $70 million of cash flow from operating activities during the quarter.
As for the EBITDA and net earnings, these were essentially impacted by the
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