Hillman Reports First Quarter 2024 Results • Net sales increased 0.2% to $350.3 million compared to $349.7 million in the prior year quarter • Net loss totaled $(1.5) million, or $(0.01) per diluted share, compared to net loss of $(9.1) million, or $(0.05) per diluted share, in the prior year quarter • Adjusted diluted EPS was $0.10 per diluted share compared to $0.06 per diluted share in the prior year quarter 1 • Adjusted EBITDA totaled $52.3 million compared to $40.2 million in the prior year quarter 1 • ...

CINCINNATI, April 15, 2024 (GLOBE NEWSWIRE) -- Hillman Solutions Corp. (NASDAQ:HLMN) ("Hillman"), a leading provider of hardware products and merchandising solutions, plans to host a conference call to discuss its results for the thirteen weeks ended March 30, 2024 on Tuesday, May 7, 2024 at 8:30 a.m. Eastern Time. Hillman will issue its earnings release on the same day prior to the results presentation. Chairman, President, and Chief Executive Officer Doug Cahill; Chief Operating Officer Jon Michael Adinol ...

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UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 30, 2023 ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 FOR THE TRANSITION PERIOD FROM _____ TO _____ Commission file number 001-39609 Hillman Solutions Corp. (Exact name of registrant as specified in its charter) Delaware 85-2096734 Securities registered pursuant ...

Hillman Reports Fourth Quarter 2023 Results; Provides 2024 Guidance CINCINNATI, February 22, 2024 -- 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 30, 2023. Fiscal 2023 consisted of fifty-two weeks compared to fifty-three weeks during fiscal 2022 and the fourth quarter of fiscal 2023 consisted of thirteen weeks compared to fourteen weeks d ...

Financial Data and Key Metrics Changes - Net sales in Q3 2023 increased by 5.4% to $398.9 million compared to the same quarter last year, driven by a 4% increase in total volumes and a 2% price lift, despite FX headwinds in the Canadian business [9][41] - Adjusted EBITDA rose to $66.8 million, up 13.3% from $59 million in the prior year quarter, resulting in an adjusted EBITDA margin improvement to 16.7% [14][51] - Free cash flow for the quarter was $41.3 million, significantly higher than $31 million in the year-ago quarter, contributing to a year-to-date total of $119.3 million [16][55] - The net debt to adjusted EBITDA leverage ratio improved to 3.7 times, down from 4.2 times at the end of 2022 [57] Business Line Data and Key Metrics Changes - Hardware Solutions, which constitutes over 50% of total revenue, saw net sales increase by 8% to $229 million, attributed to new business wins and price increases [43] - Robotics and Digital Solutions (RDS) accounted for about 16% of revenue, with net sales down 1% to $63.5 million due to reduced foot traffic and discretionary spending [44] - Protective Solutions revenues increased by 14% compared to last year, driven by promotional off-shelf activities [49] Market Data and Key Metrics Changes - Year-to-date foot traffic at home improvement centers declined by 8%, with a reported 13% drop in October [13][25] - The Canadian segment, making up about 10% of overall revenue, experienced a 9% decline, impacted by volume decreases and FX headwinds [48] Company Strategy and Development Direction - The company aims to maintain its competitive moat by focusing on customer service and direct store delivery, which differentiates it from competitors [18][19] - Plans for 2024 include cautious growth strategies, with expectations of flat to slightly down revenues while controlling costs to grow EBITDA [68][69] - The company is exploring M&A opportunities, particularly in adjacent categories, as the market for acquisitions has become more favorable [74][75] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about the future, citing healthy home equity values and the aging housing stock as drivers for repair and maintenance projects [36][38] - The company anticipates that margins will expand in Q4 2023 and maintain above historical rates into 2024, despite ongoing cost pressures [34][126] - Management emphasized the importance of customer relationships and trust as key to long-term success [64] Other Important Information - The company has reduced its inventory by $92 million from the end of 2022, contributing to improved cash flow [54][31] - The launch of the new MinuteKey 3.5 self-service machines is expected to enhance customer experience and drive future growth [46][118] Q&A Session Summary Question: What are the plans for R&R activity in early 2024? - Management plans for flat to slightly down revenues, preparing for potential challenges in the market [68][69] Question: Update on M&A market engagement? - The company is looking to re-engage in M&A discussions in 2024, focusing on opportunities that align with its business model [74][75] Question: New business wins for 2024? - Management confirmed $27 million in new business wins, with some expected to contribute to revenue in 2023 [82] Question: Promotional activity expectations for 2024? - Similar promotional activity levels are expected in 2024, with a more evenly distributed approach compared to 2023 [87] Question: Inventory benefits in 2024? - Management does not foresee inventory reductions as a headwind for 2024, expecting benefits from lower commodity prices [112][114] Question: Margin benefits from lower inventory costs? - Specific quantification of margin benefits was not provided, but management expects to maintain or exceed current EBITDA rates [115] Question: Details on the rollout of MinuteKey 3.5? - Over 500 units are expected to be deployed, primarily retrofitting existing machines to enhance customer experience [117][118]

• We have long-standing strategic partnerships with leading retailers across North America: ◦ Home Depot, Lowes, Walmart, Tractor Supply, and ACE Hardware • Founded in 1964; HQ in Cincinnati, Ohio | --- | --- | --- | |----------------------------------|-----------------------------------------------------------|--------------------------------------| | ~20 billion Fasteners Sold | 2022: By The Numbers \n~400 million Pairs of Gloves Sold | ~120 million Keys Duplicated | | | | | | ~112,000 | ~40,000 | ~35,000 ...

PART I. FINANCIAL INFORMATION [Item 1. Condensed Consolidated Financial Statements (Unaudited)](index=3&type=section&id=Item%201.%20Condensed%20Consolidated%20Financial%20Statements%20(Unaudited)) This section presents unaudited financial statements for the period ended September 30, 2023, detailing key accounting policies and events Condensed Consolidated Balance Sheet Highlights (in thousands) | Account | Sep 30, 2023 | Dec 31, 2022 | | :--- | :--- | :--- | | Total current assets | $595,826 | $631,619 | | Total assets | $2,411,914 | $2,470,690 | | Total current liabilities | $233,476 | $215,412 | | Long-term debt | $780,043 | $884,636 | | Total liabilities | $1,252,314 | $1,313,951 | | Total stockholders' equity | $1,159,600 | $1,156,739 | Condensed Consolidated Statements of Comprehensive Income (Loss) Highlights (in thousands) | Metric | Thirteen Weeks Ended Sep 30, 2023 | Thirteen Weeks Ended Sep 24, 2022 | Thirty-nine Weeks Ended Sep 30, 2023 | Thirty-nine Weeks Ended Sep 24, 2022 | | :--- | :--- | :--- | :--- | :--- | | Net sales | $398,943 | $378,538 | $1,128,669 | $1,135,665 | | Income (loss) from operations | $34,742 | ($449) | $56,628 | $36,173 | | Net income (loss) | $5,057 | ($9,466) | $470 | ($2,537) | | Diluted income (loss) per share | $0.03 | ($0.05) | $0.00 | ($0.01) | - Net cash from operating activities for the 39 weeks ended September 30, 2023, was **$171.5 million**, a significant increase from $63.2 million, driven by a **$92.8 million positive change from inventory reduction**[12](index=12&type=chunk) - In Q1 2023, the Company **realigned its segments**, moving certain businesses into the Canada segment, with prior period data reclassified accordingly[19](index=19&type=chunk)[106](index=106&type=chunk) - The company experienced a ransomware attack in May 2023, resulting in **net costs of $1.0 million** for the 39-week period after an expected insurance receivable[47](index=47&type=chunk) [Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations](index=24&type=section&id=Item%202.%20Management's%20Discussion%20and%20Analysis%20of%20Financial%20Condition%20and%20Results%20of%20Operations) Management discusses Q3 and YTD 2023 financial performance, highlighting sales growth, improved net income, and key operational events Q3 2023 vs Q3 2022 Performance Summary | Metric | Q3 2023 | Q3 2022 | Change | | :--- | :--- | :--- | :--- | | Net Sales | $398.9M | $378.5M | +5.4% | | Net Income (Loss) | $5.1M | ($9.5M) | +$14.6M | | Diluted EPS | $0.03 | ($0.05) | +$0.08 | | Adjusted EBITDA | $66.8M | $59.0M | +13.3% | YTD 2023 vs YTD 2022 Performance Summary | Metric | YTD 2023 | YTD 2022 | Change | | :--- | :--- | :--- | :--- | | Net Sales | $1,128.7M | $1,135.7M | -0.6% | | Net Income (Loss) | $0.5M | ($2.5M) | +$3.0M | | Diluted EPS | $0.00 | ($0.01) | +$0.01 | | Adjusted EBITDA | $165.0M | $165.3M | -0.2% | - The Robotics and Digital Solutions segment's operating income **increased by $26.8 million** in Q3 2023, primarily due to a **$25.1 million decrease in G&A expenses** from reduced litigation costs[137](index=137&type=chunk)[142](index=142&type=chunk) - Operating cash flow for the 39-week period **improved by $108.2 million** year-over-year to $171.5 million, driven by strategic inventory reduction and an **$80.0 million voluntary debt prepayment**[175](index=175&type=chunk)[176](index=176&type=chunk)[181](index=181&type=chunk) [Item 3. Quantitative and Qualitative Disclosures about Market Risk](index=40&type=section&id=Item%203.%20Quantitative%20and%20Qualitative%20Disclosures%20about%20Market%20Risk) The company outlines its primary market risk exposures from interest rates, foreign currency, and commodity prices - A hypothetical **1% change in interest rates** would impact annual interest expense by approximately **$4.4 million**, net of interest rate swaps[190](index=190&type=chunk) - The company is exposed to foreign exchange risk from its Canadian and Mexican subsidiaries, with a combined net asset value of **$151.2 million**[191](index=191&type=chunk) - Commodity price risk from transportation and materials is mitigated through alternative sourcing and cost pass-through strategies[193](index=193&type=chunk) [Item 4. Controls and Procedures](index=40&type=section&id=Item%204.%20Controls%20and%20Procedures) Management concluded that disclosure controls and internal controls over financial reporting were effective as of September 30, 2023 - The Chief Executive Officer and Chief Financial Officer concluded that the company's **disclosure controls and procedures were effective** as of September 30, 2023[194](index=194&type=chunk) - No material changes to the company's **internal control over financial reporting** occurred during the quarter[195](index=195&type=chunk) PART II. OTHER INFORMATION [Item 1. Legal Proceedings](index=42&type=section&id=Item%201.%20Legal%20Proceedings) The company reports that ongoing litigation is not expected to have a material adverse effect on its financial condition - Information on legal proceedings is incorporated by reference from **Note 6 - Commitments and Contingencies**[197](index=197&type=chunk) - Management believes that litigation arising from the normal course of business is **not expected to have a material adverse effect** on the company's financials[53](index=53&type=chunk) [Item 1A. Risk Factors](index=42&type=section&id=Item%201A.%20Risk%20Factors) The company reports no material changes to the risk factors previously disclosed in its latest Form 10-K - There have been **no material changes** to risk factors from those disclosed in the Annual Report on Form 10-K filed on February 27, 2023[198](index=198&type=chunk) [Item 2. Unregistered Sales of Equity Securities, Use of Proceeds, and Issuer Purchases of Equity Securities](index=42&type=section&id=Item%202.%20Unregistered%20Sales%20of%20Equity%20Securities%2C%20Use%20of%20Proceeds%2C%20and%20Issuer%20Purchases%20of%20Equity%20Securities) This item is reported as not applicable for the current reporting period - The company reports this item as **not applicable** for the period[199](index=199&type=chunk) [Item 5. Other Information](index=42&type=section&id=Item%205.%20Other%20Information) This section details a Q1 2023 segment realignment and the adoption of a new Executive Severance Plan in November 2023 - In Q1 2023, the Company **realigned its segments** to include certain Canada-based businesses under the Canada segment and provided restated historical data[202](index=202&type=chunk)[203](index=203&type=chunk)[205](index=205&type=chunk) - On November 2, 2023, the Board adopted the **Hillman Solutions Corp. Executive Severance Plan** to standardize executive severance arrangements[206](index=206&type=chunk) - The new severance plan provides for salary continuation and other benefits, with **enhanced benefits following a Change in Control**[210](index=210&type=chunk)[211](index=211&type=chunk)[212](index=212&type=chunk) [Item 6. Exhibits](index=46&type=section&id=Item%206.%20Exhibits) This section lists all exhibits filed with the Form 10-Q, including certifications and the new severance plan - Lists exhibits filed with the report, including the **Executive Severance Plan (Exhibit 10.1)**, CEO/CFO certifications, and XBRL data[214](index=214&type=chunk)

Thank you, Amy. Good morning, everyone, and thank you for joining us. I am Michael Koehler, Vice President of Investor Relations and Treasury. Joining me on today's call are Doug Cahill, our Chairman, President and Chief Executive Officer; Rocky Kraft, our Chief Financial Officer, and John Michael Adinolfi, our Chief Operating Officer. Michael Koehler Hillman Solutions Corp. (NASDAQ:HLMN) Q2 2023 Earnings Call August 8, 2023 8:30 AM ET Company Participants Michael Koehler - Vice President of Investor Relati ...

HLMN | Nasdaq Listed August 8, 2023 PresBuilder Placeholder - Delete this box if you see it on a slide, but DO NOT REMOVE this box from the slide layout All statements made in this presentation that are consider 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 shoul ...