Howden Joinery Group (LON:HWDN) Issues Earnings Results

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

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 10.3%

Shares of Howden Joinery Group stock traded up GBX 88 on Thursday, reaching GBX 944. The stock had a trading volume of 6,271,200 shares, compared to its average volume of 11,237,741. The company has a quick ratio of 0.94, a current ratio of 1.99 and a debt-to-equity ratio of 60.20. The stock has a market capitalization of £5.09 billion, a P/E ratio of 20.39, a P/E/G ratio of 1.96 and a beta of 1.07. The company has a 50 day moving average price of GBX 849.23 and a 200 day moving average price of GBX 840.40. Howden Joinery Group has a 1 year low of GBX 647.10 and a 1 year high of GBX 957.50.

Analyst Ratings Changes

HWDN has been the subject of a number of recent analyst reports. JPMorgan Chase & Co. boosted their target price on shares of Howden Joinery Group from GBX 884 to GBX 900 and gave the company a “neutral” rating in a research note on Wednesday, December 3rd. Berenberg Bank restated a “buy” rating and issued a GBX 975 target price on shares of Howden Joinery Group in a research note on Thursday, November 6th. Finally, Royal Bank Of Canada reissued a “sector perform” rating and issued a GBX 900 price objective on shares of Howden Joinery Group in a research note on Friday, October 31st. One research analyst has rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of GBX 918.75.

Howden Joinery Group Company Profile

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.