Business
Hillman Solutions Corp. Reports Third Quarter and Year-to-Date 2021 Results
CINCINNATI, Nov. 03, 2021 (GLOBE NEWSWIRE) -- Hillman Solutions Corp. (Nasdaq: HLMN) (the “Company” or “Hillman”) reported today selected financial results
About this update from Hillman Solutions Corp.
[{"type":"text","content":"CINCINNATI, Nov. 03, 2021 (GLOBE NEWSWIRE) -- Hillman Solutions Corp. (Nasdaq: HLMN) (the “Company” or “Hillman”) reported today selected financial results for the thirty-nine weeks ended September 25, 2021. Third Quarter 2021 Highlights Net sales for the third quarter of 2021 decreased 8.6% to $364.5 million as compared to prior year quarter net sales of $398.7 millionOperating income decreased 137.9% to $(13.3) million compared to $35.1 million in the prior year third quarterAdjusted EBITDA1 decreased 24.6% to $56.5 million compared to $75.0 million in the prior year quarter Year-to-Date 2021 Highlights Net sales for the thirty-nine weeks ended September 25, 2021 increased 3.9% to $1,081.5 million as compared to $1,041.2 million in 2020Operating income for the thirty-nine weeks ended September 25, 2021 decreased 81.6% to $12.0 million as compared to $65.3 million in 2020Adjusted EBITDA1 for the thirty-nine weeks ended September 25, 2021 decreased 5.2% to $168.8 million compared to $178.1 million in 2020 Doug Cahill, Chairman, President and Chief Executive Officer, stated, “Our Hardware Solutions, RDS and Canadian businesses all performed well in the quarter, in spite of historical supply chain challenges and a very strong third quarter last year, but the unwinding of our Covid-related products in Protective Solutions negatively impacted our earnings.\" Cahill went on to say, \"At Hillman, we are in the business of solving labor, logistics, and supply chain challenges for our customers so they can stay in stock and service their consumers. There has never been a time they've needed us more and we remain focused every day on delivering industry leading service and fill rates with our world class service team.\" 1) Adjusted EBITDA is a non-GAAP financial measure. Refer to the \"Reconciliation of Adjusted EBITDA” section of this press release for additional information as well as reconciliations between the company’s GAAP and non-GAAP financial results. Conference Call and WebcastThe Company will host a conference call to discuss the financial results for the thirteen and thirty-nine weeks ended September 25, 2021 on Wednesday, November 3, 2021, at 8:30 am Eastern time. Participants may join the call by dialing 1(866)-673-2033, passcode: 3093168, a few minutes before the call start time. A live audio webcast of the conference call...