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Hillman Solutions Q1 2025 Earnings Report
Hillman Solutions reported its financial results for the first quarter ended March 29, 2025, showing an increase in net sales and a reduced net loss compared to the prior year quarter.
Key Takeaways
Hillman Solutions reported a 2.6% increase in net sales to $359.3 million for the first quarter of 2025, alongside a reduced net loss of $(0.3) million. Adjusted EBITDA saw an increase to $54.5 million, while free cash flow was negative at $(21.3) million.
Net sales increased by 2.6% to $359.3 million, up from $350.3 million in the prior year quarter.
Net loss improved to $(0.3) million, or $(0.00) per diluted share, compared to $(1.5) million, or $(0.01) per diluted share in the prior year quarter.
Adjusted EBITDA increased to $54.5 million from $52.3 million in the prior year quarter.
Free Cash Flow was $(21.3) million, a decrease from $(6.1) million in the prior year quarter.
Forward Guidance
Hillman Solutions Corp. has reiterated its full-year 2025 guidance for Net Sales and Adjusted EBITDA, but has withdrawn its free cash flow guidance due to uncertainties surrounding tariffs. The company expects to end the year with a leverage ratio of around 2.5 times.
Positive Outlook
- Reiterated Net Sales guidance for FY 2025 ($1.495 to $1.575 billion).
- Reiterated Adjusted EBITDA guidance for FY 2025 ($255 to $275 million).
- Management remains confident in both top- and bottom-line expectations.
- Believes they can manage the business to achieve a leverage ratio of around 2.5 times by year-end.
- The company's products are small-ticket items for repair and maintenance, which historically provides resilience.
Challenges Ahead
- Withdrew free cash flow guidance for FY 2025.
- Uncertainties around the timing and magnitude of tariffs are impacting free cash flow.
- Net cash used by operating activities was $(0.7) million compared to net cash generated of $11.7 million in the prior year quarter.
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