Increases FY 2026 Net Sales guidance; reiterates Adj. EBITDA and Free Cash Flow guidance
CINCINNATI, April 27, 2026 (GLOBE NEWSWIRE) -- Hillman Solutions Corp. (NASDAQ:HLMN) (the "Company" or "Hillman"), a leading provider of hardware products and merchandising solutions, reported financial results for the thirteen weeks ended March 28, 2026.
First Quarter 2026 Highlights (Thirteen weeks ended March 28, 2026)
Net sales increased 3.0% to $370.1 million compared to $359.3 million in the prior year quarter
Net loss totaled $(4.7) million, or $(0.02) per diluted share, compared to $(0.3) million, or $(0.00) per diluted share, in the prior year quarter
Adjusted diluted EPS1 totaled $0.07 per diluted share compared to $0.10 per diluted share in the prior year quarter
Adjusted EBITDA1 totaled $50.1 million compared to $54.5 million in the prior year quarter
Net cash used by operating activities was $(19.5) million compared to $(0.7) million in the prior year quarter
Free Cash Flow1 totaled $(34.3) million compared to $(21.3) million in the prior year quarter
Hillman repurchased approximately 1.2 million shares of its common stock at an average price of $8.29 per share, which totaled $10.1 million
Subsequent to the quarter end, closed two acquisitions:
Campbell Chain & Fittings, a premier manufacturer and supplier of industrial chain and related products
Delaney Hardware, a U.S.-based supplier of door hardware and builder's hardware used in residential, multifamily, and commercial construction
Balance Sheet and Liquidity at March 28, 2026
Gross debt was $737.8 million compared to $693.1 million on December 27, 2025
Net debt1 was $710.1 million compared to $665.8 million on December 27, 2025
Liquidity available totaled $282.4 million; consisting of $254.7 million of available borrowing under the revolving credit facility and $27.7 million of cash and equivalents
Net debt1 to trailing twelve month Adjusted EBITDA was 2.6x at quarter end compared to 2.4x on December 27, 2025
Management Commentary
"Consistent demand for our hardware products, driven by repair, maintenance, and remodeling projects, coupled with mid-single digit growth in our robotics and digital solutions business ('RDS') drove a solid quarter for Hillman, despite the impact from weather and the macro," commented Jon Michael Adinolfi, President and CEO of Hillman.
"We are raising our full year net sales guidance, driven by the two acquisitions we made subsequent to the end of the quarter. These tuck-in acquisitions support two important strategic initiatives for Hillman: category expansion and pro distribution."
"After the quarter end, we acquired Campbell Chain and Fittings, a premier manufacturer and supplier of industrial chain and chain-related products. This acquisition adds U.S.-based manufacturing and complements our existing retail chain business. Campbell also expands our position within the industrial MRO sector, a key focus area for our future growth.
"Additionally, one week later, we acquired Delaney Hardware, a U.S.-based supplier of door hardware and builder's hardware used in residential, multifamily, and commercial construction. This acquisition expands our product breadth in our residential pro distribution business.
"We will continue to be laser focused on strengthening our leadership position, executing our strategy to expand across categories and channels, and unlocking meaningful growth opportunities. As we look to the rest of the year, we remain confident in our ability to drive growth and manage this dynamic environment while taking great care of our customers and delivering value for our shareholders."
Full Year 2026 Guidance - Updated
Based on year-to-date performance and its expectations for the remainder of the year, management is updating its guidance most recently provided on February 17, 2026.
Previous FY 2026 Guidance
Updated FY 2026 Guidance
Net Sales
$1.600 to $1.700 billion
$1.630 to $1.730 billion
Adjusted EBITDA1
$275 to $285 million
$275 to $285 million
Free Cash Flow1
$100 to $120 million
$100 to $120 million
1) Denotes Non-GAAP metric. For additional information, including our definitions, use of, and reconciliations of these metrics to the most directly comparable financial measures under GAAP, please see the reconciliations toward the end of the press release.
First Quarter 2026 Results Presentation
Hillman plans to host a conference call and webcast presentation on April 28, 2026, at 8:30 a.m. Eastern Time to discuss its results. President and Chief Executive Officer Jon Michael Adinolfi and Chief Financial Officer Rocky Kraft will host the results presentation.
Date: Tuesday, April 28, 2026Time: 8:30 a.m. Eastern TimeListen-Only Webcast: https://edge.media-server.com/mmc/p/3we7oiaa
A webcast replay will be available approximately one hour after the conclusion of the call using the link above.
Hillman's quarterly presentation and Form 10-Q are expected to be filed with the SEC and posted to its Investor Relations website, https://ir.hillmangroup.com, prior to the webcast presentation.
About Hillman Solutions Corp.
Founded in 1964 and headquartered in Cincinnati, Hillman is a leading provider of hardware and related products serving retail, pro distribution, and industrial MRO customers. Over the last 60-plus years, Hillman has built a legacy of service and growth by forming strategic partnerships with North America's leading home improvement, hardware, and farm and fleet retailers. Hillman differentiates itself from the competition with its dedicated field sales team of 1,200+ associates, direct-to-store distribution capabilities, and world class global sourcing and supply chain expertise. The company offers an extensive product portfolio of more than 111,000 SKUs, including fasteners (power screws, nuts, and bolts), hardware (builder's hardware, door locks, rope & chain, accessories), project gear & supplies (gloves, work gear, paint & cleaning sundries), and key and engraving services (key duplication, auto keys, and engraving). Hillman is committed to delivering exceptional customer service, innovative products, and dependable solutions to its customers and regularly earns vendor of the year recognition from top customers. For more information on Hillman, visit www.hillman.com.
Forward-Looking Statements
All statements made in this press release that are considered to be forward-looking are made in good faith by the Company and are intended to qualify for the safe harbor from liability established by Section 27A of the Securities Act of 1933, Section 21E of the Securities Exchange Act of 1934, and the Private Securities Litigation Reform Act of 1995. You should not rely on these forward-looking statements as predictions of future events. Words such as "expect," "estimate," "project," "budget," "forecast," "anticipate," "intend," "plan," "target", "goal", "may," "will," "could," "should," "believes," "predicts," "potential," "continue," and similar expressions are intended to identify such forward-looking statements. These forward-looking statements include, without limitation, the Company's expectations with respect to future performance. These forward-looking statements involve significant risks and uncertainties that could cause the actual results to differ materially from the expected results. Most of these factors are outside the Company's control and are difficult to predict. Factors that may cause such differences include, but are not limited to: (1) unfavorable economic conditions that may affect our and our customers', suppliers' and other business partners' operations, financial condition and cash flows including spending on home renovation or construction projects, inflation, recessions, instability in the financial markets or credit markets; (2) increased supply chain costs, including tariffs, raw materials, sourcing, transportation and energy; (3) the highly competitive nature of the markets that we serve; (4) the ability to continue to innovate with new products and services; (5) seasonality; (6) large customer concentration; (7) the ability to recruit and retain qualified employees; (8) the outcome of any legal proceedings that may be instituted against the Company; (9) adverse changes in currency exchange rates; or (10) regulatory changes and potential legislation that could adversely impact financial results. The foregoing list of factors is not exclusive, and readers should also refer to those risks that are included in the Company's filings with the Securities and Exchange Commission ("SEC"), including the Annual Report on Form 10-K filed on February 17, 2026. Given these uncertainties, current or prospective investors are cautioned not to place undue reliance on any such forward-looking statements.
Except as required by applicable law, the Company does not undertake or accept any obligation or undertaking to release publicly any updates or revisions to any forward-looking statements in this communication to reflect any change in its expectations or any change in events, conditions or circumstances on which any such statement is based.
Contact:
Michael KoehlerVice President, Corporate Development, Investor Relations, Treasury513-826-5495[email protected]
HILLMAN SOLUTIONS CORP.
Condensed Consolidated Statement of Net Loss, GAAP Basis(dollars in thousands) Unaudited
Thirteen Weeks EndedMarch 28, 2026
Thirteen Weeks EndedMarch 29, 2025
Net sales
$
370,073
$
359,343
Cost of sales (exclusive of depreciation and amortization shown separately below)
201,496
190,740
Selling, warehouse, general and administrative expenses
124,571
119,052
Depreciation
21,999
19,395
Amortization
15,276
15,415
Other income, net
(483
)
(274
)
Income from operations
7,214
15,015
Interest expense, net
13,005
14,460
Refinancing costs
—
906
loss before income taxes
(5,791
)
(351
)
Income tax benefit
(1,059
)
(34
)
Net loss
$
(4,732
)
$
(317
)
Basic and diluted loss per share
$
(0.02
)
$
(0.00
)
Weighted average basic and diluted shares outstanding
196,626
197,284
HILLMAN SOLUTIONS CORP.
Condensed Consolidated Balance Sheets(dollars in thousands)Unaudited
March 28, 2026
December 27, 2025
ASSETS
Current assets:
Cash and cash equivalents
$
27,731
$
27,276
Accounts receivable, net of allowances of $1,876 ($1,944 - 2025)
138,767
114,926
Inventories, net
483,323
485,938
Other current assets
20,066
18,342
Total current assets
669,887
646,482
Property and equipment, net of accumulated depreciation of $446,048 ($428,726 - 2025)
224,575
231,482
Goodwill
830,372
830,747
Other intangibles, net of accumulated amortization of $607,790 ($592,748 - 2025)
530,707
546,171
Operating lease right of use assets
77,222
75,152
Other assets
28,216
26,160
Total assets
$
2,360,979
$
2,356,194
LIABILITIES AND STOCKHOLDERS' EQUITY
Current liabilities:
Accounts payable
$
139,832
$
141,662
Current portion of debt and financing lease liabilities
14,898
14,830
Current portion of operating lease liabilities
19,432
17,947
Accrued expenses:
Salaries and wages
10,419
35,790
Pricing allowances
5,514
