Business
Hillman Reports Fourth Quarter 2022 Results; Provides 2023 Guidance
CINCINNATI, Feb. 23, 2023 (GLOBE NEWSWIRE) -- Hillman Solutions Corp. (Nasdaq: HLMN) (the “Company” or “Hillman”), a leading provider of hardware products and
About this update from Hillman Solutions Corp.
[{"type":"text","content":"CINCINNATI, Feb. 23, 2023 (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 fourteen and fifty-three weeks ended December 31, 2022. Fiscal 2022 consisted of fifty-three weeks compared to fifty-two weeks in fiscal 2021 and the fourth quarter of fiscal 2022 consisted of fourteen weeks compared to thirteen weeks during the fourth quarter of 2021. Fourth Quarter 2022 Highlights (Fourteen Weeks Ended December 31, 2022) Net sales increased 1.8% to $350.7 million compared to $344.5 million in the prior year quarter; excluding the 53rd week during 2022, net sales decreased 2.8% to $334.9 millionNet loss totaled $(13.9) million, or $(0.07) per diluted share, compared to net income of $6.5 million, or $0.03 per diluted share, in the prior year quarterAdjusted Diluted EPS1 was $0.05 per diluted share compared to $0.06 per diluted share in the prior year quarterAdjusted EBITDA1 totaled $45.0 million compared to $38.6 million in the prior year quarter Full Year 2022 Highlights (Fifty-Three Weeks Ended December 31, 2022) Net sales increased 4.2% to $1.49 billion as compared to $1.43 billion in the prior year period; excluding the 53rd week during 2022, net sales increased 3.1% to $1.47 billionNet loss totaled $(16.4) million, or $(0.08) per diluted share, compared to a loss of $(38.3) million, or $(0.28) per diluted share, in the prior year periodAdjusted Diluted EPS1 was $0.43 per diluted share compared to $0.51 per diluted share in the prior year periodAdjusted EBITDA1 totaled $210.2 million compared to $207.4 million in the prior year period Management Commentary “I am grateful to the entire Hillman team for their strong performance during a dynamic and challenging year,\" commented Doug Cahill, Chairman, President and Chief Executive Officer of Hillman. “During 2022, we grew Adjusted EBITDA to $210 million, which was in line with our expectations. In our Hardware Solutions segment, we achieved industry-leading average fill rates of 96%, bolstering our reputation in the industry. In our Robotics and Digital Solutions segment, we continue to roll out innovative self-serve kiosks to an expanding footprint of stores, establishing a firm platform to generate attractive returns for Hillman and our custom...