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• Content META

  Title	Hillman Reports Record Fourth Quarter 2024 Results; Provides 2025 Guidance
  ID	7057929
  External ID	7560061611
  Author	Unknown
  Published Date	Feb. 18, 2025, 7:03 a.m.
  Summary	CINCINNATI, Feb. 18, 2025 (GLOBE NEWSWIRE) -- Hillman Solutions Corp. (Nasdaq: HLMN) (the "Company” or "Hillman”), a leading provider of hardware products and merchandising solutions, reported financi
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  URL	https://www.manilatimes.net/2025/02/18/tmt-newswire/globenewswire/hillman-reports-record-fourth-quarter-2024-results-provides-2025-guidance/2057547
  Sentiment	Negative: 0.88005    Neutral: 0.05491    Positive: 0.06504
  Relevance	0.02424

• Content Details

  Content ID	4415601
  Key	019aa71c-edfe-4b56-a4c5-1ab43065538c
  Content	CINCINNATI, Feb. 18, 2025 (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 and fifty-two weeks ended December 28, 2024. Fourth Quarter 2024 Highlights (Thirteen Weeks Ended December 28, 2024) Net sales increased 0.5% to $349.6 million compared to $347.8 million in the prior year quarter Net loss totaled $(1.2) million, or $(0.01) per diluted share, compared to net loss of $(10.1) million, or $(0.05) per diluted share, in the prior year quarter Adjusted diluted EPS was $0.10 per diluted share compared to $0.10 per diluted share in the prior year quarter Adjusted EBITDA totaled $56.3 million compared to $54.4 million in the prior year quarter On February 13, 2025, Jon Michael Adinolfi, Hillman's president and chief executive officer, was appointed to the Hillman Board of Directors; following the appointment, the board consists of ten members, eight of which are independent Full Year 2024 Highlights (Fifty-Two Weeks Ended December 28, 2024) Net sales decreased (0.3)% to $1.47 billion compared to $1.48 billion in the prior year Net income totaled $17.3 million, or $0.09 per diluted share, compared to net loss of $(9.6) million, or $(0.05) per diluted share, in the prior year Adjusted diluted EPS was $0.49 per diluted share, which includes the impact of a $0.03 per diluted share write off of receivables from True Value, compared to $0.41 per diluted share in the prior year Adjusted EBITDA totaled a record $241.8 million, which includes the impact of a $8.6 million write off of receivables from True Value, compared to $219.4 million in the prior year Net cash provided by operating activities totaled $183.3 million compared to $238.0 million in the prior year Free Cash Flow totaled $98.1 million compared to $172.3 million in the prior year Acquired Koch Industries, a provider of rope and twine, chain and wire rope, and related hardware products in January 2024; and Intex DIY, a supplier of wiping cloths, consumable rags and cleaning textiles in August 2024 Balance Sheet and Liquidity at December 28, 2024 Gross debt decreased to $718.6 million from $760.9 million at December 30, 2023 Net debt decreased to $674.0 million from $722.4 million at December 30, 2023 Liquidity available totaled $233 million, consisting of $189 million of available borrowing under the revolving credit facility and $45 million of cash and equivalents Net debt to trailing twelve month Adjusted EBITDA improved to 2.8x times from 3.3x at December 30, 2023 Management Commentary Doug Cahill, Hillman's executive chairman commented: "During 2024, Hillman delivered record bottom line results despite the soft macro environment. Our focus on disciplined execution and taking care of our customers added to Hillman's 60-year legacy of service, which resulted in us winning vendor of the year awards at our two biggest customers: Home Depot and Lowe's." "Throughout the year we reduced our net debt by $48 million while strategically expanding our portfolio through the acquisitions of Koch and Intex DIY, further strengthening our position in these key product categories. These accomplishments underscore our focus on creating value for our customers and shareholders, positioning us for continued success in the years ahead." Advertisement Jon Michael Adinolfi, Hillman's newly appointed chief executive officer added: "The progress we made during 2024 has set us up for a successful 2025, as we expect to grow both our top and bottom line during the year. Our focus remains unchanged - taking great care of our customers, securing new business wins to drive organic growth, and expanding our offerings by way of acquisitions." "During 2025, we will continue our measured and prudent capital investments into our MinuteKey 3.5 fleet and other growth opportunities, which we expect to generate healthy returns on invested capital in the future. We are confident we can drive strong results for our shareholders during 2025 and beyond." Full Year 2025 Guidance Hillman has provided the following guidance based on its current view of the market and its performance expectations during the fifty-two weeks ended December 27, 2025. Advertisement Full Year 2025 Guidance Net Sales $1.495 to $1.575 billion Adjusted EBITDA $255 to $275 million Free Cash Flow $90 to $110 million Adjusted EBITDA, Adjusted Diluted EPS, Net Debt, and Free Cash Flow are non-GAAP financial measures. Refer to the "Reconciliation of Adjusted EBITDA”, "Reconciliation of Adjusted Earnings per Share", "Reconciliation of Net Debt" and "Reconciliation of Free Cash Flow" sections of this press release for additional information as well as reconciliations between the company's GAAP and non-GAAP financial results Fourth Quarter and Full Year 2024 Results Presentation Hillman plans to host a conference call and webcast presentation today, February 18, 2025, at 8:30 a.m. Eastern Time to discuss its results and guidance. Executive Chairman Doug Cahill; President and Chief Executive Officer Jon Michael Adinolfi; and Chief Financial Officer Rocky Kraft will host the results presentation. Date: Today, February 18, 2025 Time: 8:30 am Eastern Time Advertisement Listen-only Webcast: https://edge.media-server.com/mmc/p/33zifmes A webcast replay will be available approximately one hour after the conclusion of the call using the Audio-Only Webcast link above. Hillman's earnings release and results presentation are expected to be filed with the SEC and posted to its website, https://ir.hillmangroup.com, before the webcast presentation begins, with the 10-K being filed and posted subsequent to the call. About Hillman Solutions Corp. Advertisement Hillman Solutions Corp. ("Hillman”) is a leading provider of hardware-related products and solutions to home improvement, hardware, and farm and fleet retailers across North America. Renowned for its commitment to customer service, Hillman has differentiated itself with its competitive moat built on direct-to-store shipping, a dedicated in-store sales and service team of over 1,200 professionals, and over 60 years of product and industry experience. Hillman's extensive portfolio includes hardware solutions (fasteners, screws, nuts and bolts), protective solutions (work gloves, jobsite storage and protective gear), and robotic and digital solutions (key duplication and tag engraving). Leveraging its world-class distribution network, Hillman regularly earns vendor of the year recognition from top customers. For more information on Hillman, visit www.hillman.com. Forward Looking Statements 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 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 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 its Annual Report on Form 10-K for the fiscal year ended December 28, 2024. 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. Advertisement Contact: Michael Koehler Vice President of Investor Relations & Treasury Advertisement IR@hillmangroup.com HILLMAN SOLUTIONS CORP. Condensed Consolidated Statement of Net Income, GAAP Basis (dollars in thousands) Unaudited Thirteen Weeks Ended December 28, Thirteen Weeks Ended December 30, Fifty-two Weeks Ended December 28, Fifty-two Weeks Ended December 30, Net sales Cost of sales (exclusive of depreciation and amortization shown separately below) Selling, warehouse, general and administrative expenses Depreciation Amortization Other expense, net Income from operations Interest expense, net Refinancing costs Loss (income) before income taxes Income tax expense (benefit) Net loss (income) Basic (loss) income per share Weighted average basic shares outstanding Diluted (loss) income per share Weighted average diluted shares outstanding HILLMAN SOLUTIONS CORP. Condensed Consolidated Balance Sheets (dollars in thousands) Unaudited December 28, December 30, ASSETS Current assets: Cash and cash equivalents Accounts receivable, net of allowances of $2,827 ($2,770 - 2023) Inventories, net Other current assets Total current assets Property and equipment, net of accumulated depreciation of $376,150 ($333,875 - 2023) Goodwill Other intangibles, net of accumulated amortization of $530,398 ($470,791 - 2023) Operating lease right of use assets Other assets Total assets LIABILITIES AND STOCKHOLDERS' EQUITY Current liabilities: Accounts payable Current portion of debt and finance lease liabilities Current portion of operating lease liabilities Accrued expenses: Salaries and wages Pricing allowances Income and other taxes Other accrued liabilities Total current liabilities Long-term debt Deferred tax liabilities Operating lease liabilities ()[\]\\.,;:\s@\"]+)*)|(\".+\"))@((\[[0-9]{1,3}\.[0-9]{1,3}\.[0-9]{1,3}\.[0-9]{1,3}\])|(([a-zA-Z\-0-9]+\.)+[a-zA-Z]{2,}))$/;return b.test(a)}$(document).ready(function(){if(performance.navigation.type==2){location.reload(true)}$("iframe[data-lazy-src]").each(function(b){$(this).attr("src",$(this).attr("data-lazy-src"))});if($(".owl-article-body-images").length){$(".owl-article-body-images").owlCarousel({items:1,loop:true,center:false,dots:false,autoPlay:true,mouseDrag:false,touchDrag:false,pullDrag:false,nav:true})}var a=$("#display_full_text").val();if(a==0){$.ajax({url:"/ajax/set-article-cookie",type:"POST",data:{cmsArticleId:$("#cms_article_id").val()},dataType:"json",success:function(b){},error:function(b,d,c){}})}$(".read-full-article").on("click",function(d){d.preventDefault();var b=$(this).attr("data-cmsArticleId");var c=$(this).attr("data-productId");var f=$(this).attr("data-href");dataLayer.push({event:"paywall_click",paywall_name:"the_manila_times_premium",paywall_id:"paywall_article_"+b});$.ajax({url:"/ajax/set-article-cookie",type:"POST",data:{cmsArticleId:b,productId:c},dataType:"json",success:function(e){window.location.href=$("#BASE_URL").val()+f},error:function(e,h,g){}})});$(".article-embedded-newsletter-form .close-btn").on("click",function(){$(".article-embedded-newsletter-form").fadeOut(1000)})});$(document).on("click",".article-embedded-newsletter-form .newsletter-button",function(){var b=$(".article-embedded-newsletter-form .newsletter_email").val();var d=$("#ga_user_id").val();var c=$("#ga_user_yob").val();var a=$("#ga_user_gender").val();var e=$("#ga_user_country").val();if(validateEmail(b)){$.ajax({url:"/ajax/sendynewsletter",type:"POST",data:{email:b},success:function(f){$(".article-embedded-newsletter-form .nf-message").html(f);$(".article-embedded-newsletter-form .nf-message").addClass("show");setTimeout(function(){$(".article-embedded-newsletter-form .nf-message").removeClass("show");$(".article-embedded-newsletter-form .nf-message").html("")},6000);dataLayer.push({event:"newsletter_sub",user_id:d,product_name:"newsletter",gender:a,yob:c,country:e})},error:function(f,h,g){}})}else{$(".article-embedded-newsletter-form .nf-message").html("Please enter a valid email address.");$(".article-embedded-newsletter-form .nf-message").addClass("show");setTimeout(function(){$(".article-embedded-newsletter-form .nf-message").removeClass("show");$(".article-embedded-newsletter-form .nf-message").html("")},6000)}});$(document).on("click",".article-embedded-newsletter-form .nf-message",function(){$(this).removeClass("show");$(this).html("")}); News Nation Regions World Sports Entertainment Lifestyle The Sunday Times Opinion Editorial Editorial Cartoon OP-ED Columns From our Readers Legal Advice Business Top Business Corporate News Foreign Business Sunday Business & IT Company Announcements Special Sections Special Features TMT Newswire Videos Podcasts Market Overview Weather Exam Results The Manila Times Home Delivery Subscription Subscribe to our Digital Edition The Manila Times College The Manila Times Streaming The Manila Times Forum The Manila Times Coffee Break The Manila Times Classifieds Twitter Youtube Facebook Instagram DailyMotion Spotify Subscribe Now Copyright © The Manila Times – All Rights Reserved. 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