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Mar 30, 2024
Hillman Solutions Q1 2024 Earnings Report
Hillman Solutions reported mixed results for Q1 2024, with a slight increase in net sales but a net loss, alongside significant growth in adjusted EBITDA and adjusted EPS.
Key Takeaways
Hillman Solutions Corp. reported a slight increase in net sales for Q1 2024, reaching $350.3 million, while experiencing a net loss of $(1.5) million. However, the company saw significant improvements in adjusted diluted EPS, which rose to $0.10, and adjusted EBITDA, which increased to $52.3 million. The acquisition of Koch Industries was finalized during the quarter, marking a milestone for Hillman's growth strategy.
Net sales increased slightly to $350.3 million, a 0.2% increase compared to the prior year quarter.
Net loss totaled $(1.5) million, an improvement from the $(9.1) million loss in the prior year quarter.
Adjusted EBITDA increased to $52.3 million, compared to $40.2 million in the prior year quarter.
The acquisition of Koch Industries was finalized, expanding the product portfolio.
Forward Guidance
Hillman reiterated its full year 2024 guidance, originally provided on February 22, 2024, based on its current view of the market and performance expectations.
Positive Outlook
- Net Sales are expected to be between $1.475 billion and $1.555 billion.
- Adjusted EBITDA is projected to be in the range of $230 million to $240 million.
- Free Cash Flow is anticipated to be between $100 million and $120 million.
- Guidance was reiterated based on current market view.
- Company is confident in delivering strong results.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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