Richards Group Inc. Announces 2026 Third Quarter Results: Revenue Growth of 2% Primarily on Acquisitions; Gross Margins up 7%

Toronto, Ontario--(Newsfile Corp. - October 29, 2026) - Richards Group Inc. (TSX: RIC) (the "Company") announced today results for the quarter ended September 30, 2026.

Third Quarter 2026 Highlights:

• Revenue contributions from PharmaSystems acquisition (May 2026) drove overall increase of 1.8%.
• Organic Healthcare revenue up 6.3%, representing a solid quarter with strong performance in each of our core Pharmacy and Aesthetic verticals. Growth was driven by consumables and low-price capital equipment.
• Packaging revenue fell 7.3%, lower than the 14.4% experienced in the first half and continuing to reflect the macro environment.
• Gross margins in the quarter grew 6.5% on stronger healthcare mix.
• Refinanced bank debt to 2030, increased availability to $150M and repaid $5M.

Management Comments:

"The third quarter of 2026 saw some important milestones that have significant impacts on the financial results. In Healthcare, we completed our first full year of ownership of the DermapenWorld business, driving the change in aesthetics revenue growth. We also saw a full quarter of the PharmaSystems consumer goods acquisition, which boosted the pharmacy division. Packaging saw a continuation of the lower demand trend experienced during the first half, with cosmetic packaging performing at a similar level to prior quarters." commented John Glynn, President and Chief Executive Officer.

Details of the Company's results and podcast are currently available on the Company's website at www.richardsgroup.com and on SEDAR+ at www.sedarplus.ca.

FOR MORE INFORMATION CONTACT:

Please visit our YouTube channel at https://www.youtube.com/@RichardsGroup_RIC

About Richards Group Inc.

Founded in 1912 and headquartered in Mississauga, Ontario, Canada, Richards Group operates across two core segments, Healthcare and Packaging, serving a global customer base with market leading medical devices, supplies, and equipment, as well as a diverse offering of glass and plastic packaging solutions. Richards is the largest Canadian distributor in aesthetic, pharmacy, and vision care devices, the third largest in Canadian packaging, and is newly developing a medical device global OEM footprint. The company differentiates itself through product innovation, high touch service, and deep industry expertise. For more information, visit richardsgroup.com.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/321679