Howden Joinery Group (LON:HWDN) Issues Quarterly Earnings Results

Howden Joinery Group (LON:HWDN) issued its earnings results on Thursday. The company reported GBX 49.20 EPS for the quarter, Digital Look Earnings reports. Howden Joinery Group had a return on equity of 25.70% and a net margin of 10.82%.

Here are the key takeaways from Howden Joinery Group’s conference call:

• The group delivered a strong set of results with group sales up ~4.1% to £2.4bn, PBT of £345m (c.5% ahead), EPS +8%, gross margin +110bps, ending the year with £345m cash and an increased dividend plus a new £100m share buyback.
• Network-led growth remains a focus — 970 depots trading (891 UK), 23 UK openings in 2025 and plans for ~25 openings and ~45 refurbishments in 2026, with a line of sight to ~1,000 UK depots and a Runcorn expansion to add ~1m cabinets over ~3 years.
• The company emphasised its competitive moat from in‑house manufacturing, the XDC distribution network and new digital tools (99.98% primary-to-depot service level, the PAM pricing tool), plus product pipeline (24 new kitchens for 2026 and ~29% of UK product sales from recent launches) supporting availability, margin and share gains.
• Management expects the UK kitchen market to be roughly flat in 2026 after several years of decline, and highlighted that Howdens gained share in a market they estimate fell ~3% in 2025, expressing confidence it can continue to outperform peers.
• Inflation and cost pressure remain a risk — management expects ~£30m of inflationary headwinds in 2026 (commodities, labour, property) despite planned productivity offsets, and will continue to invest ~£125m p.a. capex plus strategic initiative spend (c.£28m in 2025).

Howden Joinery Group Stock Up 2.8%

LON HWDN opened at GBX 975 on Friday. The stock has a 50 day moving average price of GBX 851.37 and a 200-day moving average price of GBX 841.12. Howden Joinery Group has a one year low of GBX 647.10 and a one year high of GBX 976.50. The company has a debt-to-equity ratio of 60.20, a quick ratio of 0.94 and a current ratio of 1.99. The company has a market capitalization of £5.26 billion, a P/E ratio of 21.06, a P/E/G ratio of 1.96 and a beta of 1.07.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the stock. JPMorgan Chase & Co. raised their price target on shares of Howden Joinery Group from GBX 884 to GBX 900 and gave the company a “neutral” rating in a report on Wednesday, December 3rd. Royal Bank Of Canada reiterated a “sector perform” rating and set a GBX 900 price objective on shares of Howden Joinery Group in a research note on Friday, October 31st. Finally, Berenberg Bank reaffirmed a “buy” rating and set a GBX 975 price target on shares of Howden Joinery Group in a report on Thursday, November 6th. One equities research analyst has rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of GBX 918.75.

About Howden Joinery Group

Howden Joinery Group Plc is the parent company of Howdens.

Howdens sells kitchens and joinery products to trade customers, primarily small local builders, through a network of over 850 UK depots. The business also operates over 70 depots across France, the Republic of Ireland, and Belgium.

Howdens only sells to the trade – they have the expertise to ensure that our products are fitted to the highest possible standards. Local Howdens depots build trusted partnerships with trade professionals, helping them to exceed their customers’ expectations and allowing their businesses and ours to profit from doing so.