Hillman Solutions Corp. reports decrease in net sales, acquired Intex DIY, and won awards.

From GlobeNewswire: 2024-11-05 07:30:00

Hillman Solutions Corp. reported a decrease in net sales for the third quarter of 2024, with net income totaling $7.4 million and adjusted EBITDA of $72.6 million. The company also acquired Intex DIY and won awards from Lowe’s and Home Depot. Net sales for the year-to-date period also decreased, with adjusted EBITDA totaling $193.2 million.

The company’s balance sheet and liquidity at September 28, 2024, showed gross debt of $758.6 million and net debt decreasing to $698.7 million. Liquidity available totaled $324.6 million, with net debt to trailing twelve month adjusted EBITDA improving to 2.8x. Chairman, President, and CEO Doug Cahill credited efficient operations and customer care for the strong results.

Hillman’s full-year 2024 guidance was updated, with net sales expected to be $1.455 to $1.485 billion and adjusted EBITDA approximately $250 million. CFO Rocky Kraft noted the increase in guidance was due to the acquisition of Intex and strong bottom-line results. Free cash flow guidance was adjusted to $100 to $115 million.

The company plans to host a conference call and webcast on November 5, 2024, at 8:30 a.m. Eastern Time to discuss its results. Hillman, founded in 1964, is a leading North American provider of hardware solutions to over 46,000 locations. The company emphasizes outstanding customer service and innovative product solutions for various customers, including home improvement centers and hardware stores.



Read more at GlobeNewswire:: Hillman Reports Third Quarter 2024 Results