Inferra AI / Company / HLMN / Slides
Hillman Solutions Corp. — 2026 11 02 Hillman Reports Third Quarter 2026 Results 172 (company IR deck)
Hillman Solutions Corp. (HLMN) · 10 slides · Filed Nov 2, 2026
Every slide of this earnings presentation, with the text as published. Open the original deck ↗ · All HLMN deck slides
Slide 1 — Hillman Reports Third Quarter 2026
November 2, 2026 Hillman Reports Third Quarter 2026 Results; Updates Full-Year Outlook Q3 2026 Net Sales increased 7.7% to a record $457.5 million Reiterates FY 2026 Adj. EBITDA and Free Cash Flow guidance; updates Net Sales outlook CINCINNATI, Nov. 02, 2026 (GLOBE NEWSWIRE) -- Hillman Solutions Corp. (Nasdaq: HLMN) (the “Company” or “Hillman”), a leading provider of hardware and related products, reported financial results for the thirteen and thirty-nine weeks ended September 26, 2026. Third Quarter 2026 Highlights (Thirteen weeks ended September 26, 2026) Net sales increased 7.7% to $457.5 million compared to $424.9 million in the prior year quarter Net income totaled $6.3 million, or $0.03 per diluted share, compared to $23.2 million, or $0.12 per diluted share, in the prior year quarter Adjusted diluted EPS1 totaled $0.22 per diluted share compared to $0.22 in the prior year quarter Adjusted EBITDA1 increased to $90.2 million compared to $88.0 million in the prior year quarter Net cash provided by operating activities increased to $69.9 million compared to $26.2 million in the prior year quarter Free Cash Flow1 increased to $51.1 million compared to $9.1 million in the prior year quarter Repurchased approximately 0.6 million shares of its common stock at an average price of $7.75 per share, which totaled $5.0 million Completed the acquisition of Kanebridge, a leading master distributor of industrial fasteners Balance Sheet and Liquidity at September 26, 2026 Successfully refinanced its existing credit facilities, consisting of a new $735 million senior secured term loan B and a $375 million asset-based revolving credit facility; closed a $200 million add-on term loan B for the Kanebridge acquisition Gross debt was $967.7 million compared to $693.1 million on December 27, 2025 Net debt1 was $932.6 million compared to $665.8 million on December 27, 2025
Slide 2 — Liquidity available totaled $343.1 million; consisting of $308.0 million of available
Liquidity available totaled $343.1 million; consisting of $308.0 million of available borrowing under the revolving credit facility and $35.1 million of cash and equivalents Net debt1 to trailing twelve month Adjusted EBITDA was 3.4x at quarter end compared to 2.4x on December 27, 2025 Management Commentary “The third quarter reflects the continued execution of Hillman’s Blueprint for Strategic Growth,” commented Hillman's CEO, Jon Michael Adinolfi. “We continue to deliver net sales growth and strong free cash flow generation that give us the flexibility to invest into attractive opportunities, like our high-margin Robotics and Digital Solutions segment - which had a great quarter, up 19.2% - and accretive acquisitions, like Kanebridge.” “We are winning in Pro, where our channel relationships, sourcing agility, and field sales team are driving new business wins. The Kanebridge acquisition, which is off to a great start, accelerates that momentum, establishing our position as a long-tail master distributor in the U.S. industrial market.” “Given our performance through the first nine months, we are reaffirming our full-year Adjusted EBITDA and free cash flow guidance while narrowing down our net sales range, given the macro environment. As we look to the rest of 2026 and beyond, we are well positioned to drive growth and create long-term 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 updated its guidance most recently provided on August 3, 2026. Previous FY 2026 Guidance Updated FY 2026 Guidance Net Sales $1.670 to $1.720 billion $1.660 to $1.680 billion Adjusted EBITDA1 ~$285 million ~$285 million Free Cash Flow1 $105 to $115 million $105 to $115 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. Third Quarter 2026 Results Presentation Hillman plans to host a conference call and webcast presentation on November 3, 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, November 3, 2026 Time: 8:30 a.m. Eastern Time Listen-Only Webcast: https://edge.media-server.com/mmc/p/diivckgp A webcast replay will be available approximately one hour after the conclusion of the call using the link above.
Slide 3 — Hillman’s quarterly presentation and Form 10-Q are expected to be filed with the SEC and
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 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 over 150,000 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.
Slide 4 — Except as required by applicable law, the Company does not undertake or accept any
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 Koehler Vice President – Corporate Development, Investor Relations, Treasury 513-826-5495 [email protected] HILLMAN SOLUTIONS CORP. Condensed Consolidated Statement of Net Income, GAAP Basis (dollars in thousands) Unaudited Thirteen Weeks Ended September 26, 2026 Thirteen Weeks Ended September 27, 2025 Thirty-nine Weeks Ended September 26, 2026 Thirty-nine Weeks Ended September 27, 2025 Net sales $ 457,488 $ 424,939 $ 1,269,812 $ 1,187,085 Cost of sales (exclusive of depreciation and amortization shown separately below) 225,203 205,378 660,861 604,456 Selling, warehouse, general and administrative expenses 157,896 138,342 416,450 381,101 Depreciation 22,308 20,100 66,842 59,343 Amortization 15,649 15,265 46,148 45,937 Other income, net (1,457) (50) (6,525) (988) Income from operations 37,889 45,904 86,036 97,236 Interest expense, net 14,338 14,692 40,385 43,044 Refinancing costs 13,505 — 13,505 906 Income before income taxes 10,046 31,212 32,146 53,286 Income tax expense 3,755 8,020 9,467 14,579 Net income $ 6,291 $ 23,192 $ 22,679 $ 38,707 Basic income per share $ 0.03 $ 0.12 $ 0.12 $ 0.20 Weighted average basic shares outstanding 194,826 197,754 195,779 197,544 Diluted income per share $ 0.03 $ 0.12 $ 0.11 $ 0.19 Weighted average diluted shares outstanding 196,058 199,849 197,349 199,454 HILLMAN SOLUTIONS CORP. Condensed Consolidated Balance Sheets (dollars in thousands) Unaudited
Slide 5 — HILLMAN SOLUTIONS CORP.
September 26, 2026 December 27, 2025 ASSETS Current assets: Cash and cash equivalents $ 35,078 $ 27,276 Accounts receivable, net of allowances of $2,431 ($1,944 - 2025) 168,151 114,926 Inventories, net 479,310 485,938 Other current assets 20,724 18,342 Total current assets 703,263 646,482 Property and equipment, net of accumulated depreciation of $485,923 ($428,726 - 2025) 230,229 231,482 Goodwill 936,011 830,747 Other intangibles, net of accumulated amortization of $638,342 ($592,748 - 2025) 658,024 546,171 Operating lease right of use assets 105,355 75,152 Other assets 36,998 26,160 Total assets $ 2,669,880 $ 2,356,194 LIABILITIES AND STOCKHOLDERS’ EQUITY Current liabilities: Accounts payable $ 149,298 $ 141,662 Current portion of debt and financing lease liabilities 16,292 14,830 Current portion of operating lease liabilities 21,414 17,947 Accrued expenses: Salaries and wages 16,106 35,790 Pricing allowances 14,255 8,098 Income and other taxes 9,014 9,466 Other accrued liabilities 44,567 29,766 Total current liabilities 270,946 257,559 Long-term debt 940,512 668,337 Deferred tax liabilities 129,529 131,870 Operating lease liabilities 90,328 63,459 Other non-current liabilities 5,702 6,462 Total liabilities $ 1,437,017 $ 1,127,687 Commitments and contingencies (Note 6) Stockholders' equity: Common stock: $0.0001 par value, 500,000,000 shares authorized, 199,329,814 and 194,358,288 issued and outstanding in 2026, respectively, and 197,857,100 and 196,487,532 shares issued and outstanding in 2025, respectively 20 20 Treasury stock, at cost, 4,971,526 shares in 2026 and 1,369,568 shares in 2025 (40,774) (12,423) Additional paid-in capital 1,469,227 1,457,422 Accumulated deficit (155,967) (178,646) Accumulated other comprehensive loss (39,643) (37,866) Total stockholders' equity 1,232,863 1,228,507 Total liabilities and stockholders' equity $ 2,669,880 $ 2,356,194 HILLMAN SOLUTIONS CORP. Condensed Consolidated Statement of Cash Flows (dollars in thousands) Unaudited
Slide 6 — Reconciliations of Non-GAAP Financial Measures to the Most Directly Comparable
Thirty-nine Weeks Ended September 26, 2026 Thirty-nine Weeks Ended September 27, 2025 Cash flows from operating activities: Net income $ 22,679 $ 38,707 Adjustments to reconcile net income to net cash provided by operating activities: Depreciation and amortization 112,990 105,280 Deferred income taxes (4,056) 9,791 Deferred financing and original issue discount amortization 1,397 3,767 Stock-based compensation expense 11,727 10,739 Loss on debt restructuring, net of third party fees paid 1,488 — Gain on acquisition, net of tax (5,214) — Gain on disposal of property and equipment 112 (135) Change in fair value of contingent consideration (489) (500) Changes in operating items: Accounts receivable, net (38,772) (34,721) Inventories, net 62,269 (53,925) Other assets (12,183) (19,691) Accounts payable 3,563 22,575 Accrued salaries and wages (19,648) (1,217) Other accrued expenses 2,484 (6,381) Net cash provided by operating activities 138,347 74,289 Net cash from investing activities Acquisition of business, net of cash received (314,503) — Capital expenditures (51,390) (55,347) Other investing activities (145) (154) Net cash used for investing activities (366,038) (55,501) Cash flows from financing activities: Repayments of senior term loans (636,960) (6,384) Borrowings on senior term loans 935,000 — Financing fees (3,751) — Borrowings on revolving credit loans 203,645 109,000 Repayments of revolving credit loans (230,617) (122,000) Principal payments under finance lease obligations (4,963) (4,156) Proceeds from exercise of stock options 2,392 1,177 Repurchases of common stock (28,351) (3,165) Payments of contingent consideration (207) (199) Other financing activities (587) 142 Net cash provided by (used for) financing activities 235,601 (25,585) Effect of exchange rate changes on cash (108) 18 Net increase (decrease) in cash and cash equivalents 7,802 (6,779) Cash and cash equivalents at beginning of period 27,276 44,510 Cash and cash equivalents at end of period $ 35,078 $ 37,731 Reconciliations of Non-GAAP Financial Measures to the Most Directly Comparable GAAP Financial Measures The Company uses non-GAAP financial measures to analyze underlying business performance and trends. The Company believes that providing these non-GAAP financial measures enhances the Company’s and investors’ ability to compare the Company’s past financial performance with its current performance. These non-GAAP financial measures are provided as supplemental information to the financial measures presented in this press release that are calculated and presented in accordance with GAAP. Non-GAAP financial measures should not be considered a substitute for, or superior to, financial measures determined or calculated in accordance with GAAP. The Company’s definitions of its non-
Slide 7 — GAAP financial measures may not be comparable to similarly titled measures reported by
GAAP financial measures may not be comparable to similarly titled measures reported by other companies. Because GAAP financial measures on a forward-looking basis are not accessible, and reconciling information is not available without unreasonable effort, reconciliations to GAAP financial measures are not provided for forward-looking non-GAAP measures. For the same reasons, the Company is unable to address the probable significance of the unavailable information, which could be material to future results. Non-GAAP financial measures such as consolidated adjusted EBITDA and Adjusted Diluted Earnings per Share (EPS) exclude from the relevant GAAP metrics items that neither relate to the ordinary course of the Company’s business, nor reflect the Company’s underlying business performance. Reconciliation of Adjusted EBITDA (Unaudited) (dollars in thousands) Adjusted EBITDA is a non-GAAP financial measure and is the primary basis used to measure the operational strength and performance of our businesses as well as to assist in the evaluation of underlying trends in our businesses. This measure eliminates the significant level of noncash depreciation and amortization expense that results from the capital-intensive nature of our businesses and from intangible assets recognized in business combinations. It is also unaffected by our capital and tax structures, as our management excludes these results when evaluating our operating performance. Our management use this financial measure to evaluate our consolidated operating performance and the operating performance of our operating segments as well as to allocate resources and capital to our operating segments. Additionally, we believe that Adjusted EBITDA is useful to investors because it is one of the bases for comparing our operating performance with that of other companies in our industries, although our measure of Adjusted EBITDA may not be directly comparable to similar measures used by other companies.
Slide 8 — Reconciliation of Adjusted Diluted Earnings Per Share
Thirteen Weeks Ended September 26, 2026 Thirteen Weeks Ended September 27, 2025 Thirty-nine Weeks Ended September 26, 2026 Thirty-nine Weeks Ended September 27, 2025 Net income $ 6,291 $ 23,192 $ 22,679 $ 38,707 Income tax expense 3,755 8,020 9,467 14,579 Interest expense, net 14,338 14,692 40,385 43,044 Depreciation 22,308 20,100 66,842 59,343 Amortization 15,649 15,265 46,148 45,937 EBITDA $ 62,341 $ 81,269 $ 185,521 $ 201,610 Stock compensation expense 4,365 3,904 11,727 10,739 Restructuring and other (1) 1,469 749 2,903 2,860 Litigation expense (2) — 1,950 — 1,950 Transaction and integration expense (3) 8,610 87 4,221 215 Change in fair value of contingent consideration (137) 67 (489) (500) Refinancing costs (4) 13,505 — 13,505 906 Total adjusting items 27,812 6,757 31,867 16,170 Adjusted EBITDA $ 90,153 $ 88,026 $ 217,388 $ 217,780 (1) Includes consulting and other costs associated with severance related to our distribution center relocations and corporate restructuring activities. (2) Litigation expense includes an accrual for the preliminary settlement of a California wage-hour class action / Private Attorneys General Act (PAGA) claim. (3) Transaction and integration expense includes professional fees and other costs related to acquisition activity, including the acquisitions of Campbell Chain and Fittings and Delaney Hardware in the second quarter of 2026, and the Kanebridge acquisition in the third quarter. Also included is a $5.2 million gain, net of deferred taxes, on the Campbell acquisition. (4) In July of 2026 we entered into a new Term Loan B consisting of a $735 million senior secured Term Loan B and new $375 million senior secured asset based revolving credit facility. In August of 2026, we entered into Amendment No. 1 to provide for an additional $200.0 million of senior secured term loans. In the first quarter of 2025, we entered into a Repricing Amendment (2025 Repricing Amendment) on our existing Senior Term Loan due July 14, 2028. Reconciliation of Adjusted Diluted Earnings Per Share (in thousands, except per share data) Unaudited We define Adjusted Diluted EPS as reported diluted EPS excluding the effect of one-time, non-recurring activity and volatility associated with our income tax expense. The Company believes that Adjusted Diluted EPS provides further insight and comparability in operating performance as it eliminates the effects of certain items that are not comparable from one period to the next. The following is a reconciliation of reported diluted EPS from continuing operations to Adjusted Diluted EPS from continuing operations:
Slide 9 — Per Share Impact of Adjusting Items
Thirteen Weeks Ended September 26, 2026 Thirteen Weeks Ended September 27, 2025 Thirty-nine Weeks Ended September 26, 2026 Thirty-nine Weeks Ended September 27, 2025 Reconciliation to Adjusted Net Income Net Income $ 6,291 $ 23,192 $ 22,679 $ 38,707 Remove adjusting items (1) 27,812 6,757 31,867 16,170 Remove amortization expense 15,649 15,265 46,148 45,937 Remove tax benefit on adjusting items and amortization expense (2) (7,424) (1,967) (10,031) (4,864) Adjusted Net Income $ 42,328 $ 43,247 $ 90,663 $ 95,950 Reconciliation to Adjusted Diluted Earnings per Share Diluted Earnings per Share $ 0.03 $ 0.12 $ 0.11 $ 0.19 Remove adjusting items (1) 0.14 0.03 0.16 0.08 Remove amortization expense 0.08 0.08 0.23 0.23 Remove tax benefit on adjusting items and amortization expense (2) (0.04) (0.01) (0.05) (0.02) Adjusted Diluted Earnings per Share $ 0.22 $ 0.22 $ 0.46 $ 0.48 Diluted Shares, as reported 196,058 199,849 197,349 199,454 Note: Adjusted EPS may not add due to rounding. (1) Please refer to the “Reconciliation of Adjusted EBITDA” table above for additional information on adjusting items. See the “Per share impact of Adjusting Items” table below for the per share impact of each adjustment. (2) We have calculated the income tax effect of the non-GAAP adjustments shown above at the applicable statutory rate of 25% for the U.S. and 26.2% for Canada except for the following items: a. The tax impact of stock compensation expense was calculated using the statutory rates above, excluding certain awards that are non-deductible. b. Amortization expense for financial accounting purposes was offset by the tax benefit of deductible amortization expense using the statutory rate of 25%. Per Share Impact of Adjusting Items Thirteen Weeks Ended September 26, 2026 Thirteen Weeks Ended September 27, 2025 Thirty-nine Weeks Ended September 26, 2026 Thirty-nine Weeks Ended September 27, 2025 Stock compensation expense $ 0.02 $ 0.02 $ 0.06 $ 0.05 Restructuring and other costs 0.01 0.00 0.01 0.01 Litigation expense 0.00 0.01 0.00 0.01 Transaction and integration expense 0.04 0.00 0.02 0.00 Change in fair value of contingent consideration 0.00 0.00 0.00 0.00 Refinancing costs 0.07 0.00 0.07 0.00 Total adjusting items $ 0.14 $ 0.03 $ 0.16 $ 0.08 Note: Adjusting items may not add due to rounding. Reconciliation of Net Debt We define Net Debt as reported gross debt less cash on hand. Net debt is not defined under
Slide 10 — U.S. GAAP and may not be computed the same as similarly titled measures used by other
U.S. GAAP and may not be computed the same as similarly titled measures used by other companies. The Company believes that Net Debt provides further insight and comparability into liquidity and capital structure. The following is the calculation of Net Debt: September 26, 2026 December 27, 2025 Revolving loans $ 9,000 $ 36,000 Senior term loan, due 2028 — 636,960 Senior term loan, due 2033 935,000 — Finance leases and other obligations 23,718 20,090 Gross debt $ 967,718 $ 693,050 Less cash 35,078 27,276 Net debt $ 932,640 $ 665,774 Reconciliation of Free Cash Flow We calculate free cash flow as cash flows from operating activities less capital expenditures. Free cash flow is not defined under U.S. GAAP and may not be computed the same as similarly titled measures used by other companies. We believe free cash flow is an important indicator of how much cash is generated by our business operations and is a measure of incremental cash available to invest in our business and meet our debt obligations. Thirteen Weeks Ended September 26, 2026 Thirteen Weeks Ended September 27, 2025 Thirty-nine Weeks Ended September 26, 2026 Thirty-nine Weeks Ended September 27, 2025 Net cash provided by operating activities $ 69,884 $ 26,237 $ 138,347 $ 74,289 Capital expenditures (18,795) (17,172) (51,390) (55,347) Free cash flow $ 51,089 $ 9,065 $ 86,957 $ 18,942 Source: Hillman Solutions Corp. Source: The Hillman Group